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    #
    Shari’ah Term
    Description
    1
    Al - Bai’
    Sale contract
    2
    Gharamah
    Fine/Penalty
    3
    Hibah
    Gift
    4
    Ibra’
    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
    22
    Wakalah
    Agency contract