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

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Glossary of Islamic Banking Terminology

- U -

 

 

Ulamaa

Plural of Alim. The people of knowledge from amongst    the Muslims who act on what they know and do what they say.

 

Ummah

Refers to the whole Muslim community, irrespective of colour, race, language or nationality, which carry no weight in Islam.

 

Umrah al-Qada

The fulfilled Umrah - the Umrah which the  Prophet performed in the seventh year after Hijrah which he intended to do in the sixth year but which the Quraysh unbelievers had not allowed him to complete.

 

Umrah

A pilgrimage to Mekkah, but not during the Hajj period. It   is also called "the Lesser Pilgrimage".

 

Urbun

earnest money.

 

'Urf

usage; custom.

 

Urn al-shurut

conveyancing; drafting of legal documents.

 

'Urudh

Pl. of ‘Ardh: property that includes goods, slaves and even real estate.

 

Ushr

Ten per cent (in some cases five per cent) of agricultural produce payable by a Muslim as a part of his religious obligation, like Zakat, mainly for the benefit of the poor and the needy.

 

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