Rebate/waiver of partial or total against certain right or debt
5
Ijarah
Lease or service contract that involves benefit/ usufruct of certain asset or work for an agreed payment or commission within an agreed period
6
‘Iwad
Consideration
7
Kafalah
Guarantee
8
Maysir
Gambling
9
Mudaraba
Profit Sharing Contract
10
Murabaha
Sale contract with disclosure of the asset cost price and profit margin to the buyer
11
Musharakah
Profit Sharing Contract
12
Musharakah Mutanaqisah
A contract of partnership that allows one partner to give a right to gradually own his share of the asset to the remaining partners based on agreed terms
13
Qard
Loan contract
14
Rahn
Pledge/charge
15
Ta’widh
Compensation
16
Tabarru’
Voluntary donation/contribution
17
Takaful
A scheme which is based on the spirit of corporation and helping each other by providing financial assistance participants when needed and all participants mutually agree to give contribution for the said purpose
18
Tawarruq
Purchasing an asset with deferred price, either on the basis of bargain or markup cost, then selling it to a third party to obtain cash
19
Ujrah
commission
20
Wa’d
Promise
21
Wadi’ah
Safe keeping contract in which a party entrusted his property to another party for safe keeping and to be returned upon request
