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Glossary of Islamic Banking Terminology- Q -
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Qard al Hasan
A loan extended without interest; gracious loan without interest in which the benefit to be derived is gifted by the owner to the beneficiary without this charitable act, the use of the money for a period would be consid­ered an unjustified excess transferred to the beneficiary also called Ribaal-nasiah.

Qard
A loan given for a good cause in the name of Allah, in hopes  of repayment or reward in the Hereafter; debt.

Qarn al-Manazil
The Miqat of the pilgrims travelling through Najd, in Arabia (from the east).

Qiraad
another name given by the Malilkis to the contract of mudarabah, from the word qard.

Qiran (Hajj Al)
Combined Hajj. Performing the Umrah, followed  by the Hajj, without taking off the Ihram.

Qiyas
Lit: Analogy; syllogism. Technically: Analogy through which Islamic law is derived from a textual injunction for a given non-textual matter.

Quadaa
Paying in a debt.

Qubul
acceptance.

Quirat
gold, coin used during the time of Holy Prophet PBUH

Quran
The Holy book containing the actual words of Allah revealed to the Prophet Muhammad (peace be upon him). This Holy Book of the Muslims consisting of the revelations made by God to the Prophet Muhammad, peace be on him, during his Prophet hood of about 23 years. The Quran lays down the fundamentals of the Islamic faith, including beliefs and all aspects of the Muslim way of life. These are supplemented or further elaborated by the Sunnah. The Quran consists of 30 parts (ajza), 114 chapters (surahs}, and 6,666 verses (ayahs). There are a number of translations of the Quran by both Muslims and non-Muslims. The translations by Abdullah Yusuf Ali and Muhammad Marmaduke Pickthall, both Muslims, and by A. J. Arberry are the most popular. In all references to the Quran in the text (e.g., 30: 41), the first number refers to the surah and the second to the ayah or verse. Many commentries (Tafseer) of the Holy Quran had been written in many languages. Ahkamul Quran, Maariful Quran, Jalalain etc are among the most famous ones.

 

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