UAN: 111-331-331 04 February, 2012 | Rabi-ul-Awal 11, 1433

Meezan Bank Logo

Contact Us | Careers | News

Home | Knowledge Center | Glossary | G

Glossary of Islamic Banking Terminology

- G -


 

 

Ghanima

Spoils of war acquired from enemy after fighting during a holy war (Jihad).

 

Gharar

Uncertainty, hazard, chance or risk, ambiguity and uncertainty in transactions. Technically, the sale of something which is not present at hand; or the sale of something where the consequences or outcome is not known. It can also be a sale involving risk or hazard in which one does not know whether it will come to be or not, such as fish in water or a bird in the air; or an event where assurance or non-assurance is subject to chance and  thus not known to parties of a transaction. Can also mean uncertainty or a hazard that is likely to lead to a dispute in a contract.

 

Gharim

A person in debt; debtor unable to pay the debt from his wealth.

 

Ghasb

usurpation; abduction.

 

 

Register for Meezan Internet Banking Accout Login to your Meezan Internet Banking Account