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Glossary of Islamic Banking Terminology- W -
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Wadheeah
Sale at a loss.

Wadiah
contract of deposit; bailment.

Waijdb / Wajib
Compulsory, obligation as distinguished from wujub (duty).

Wakalah ammah
general agency.

Wakalah khassah
special agency.

Wakalah qasirah
restricted agency.

Wakalah
agency.

Wakil
agent.

Wali
guardian.

Waqf
Endowment. A charitable trust in the name of Allah, usually  in perpetuity, and usually for the purposes of establishing the Deen of Islam, teaching useful knowledge, feeding the poor or treating  the sick.

Wasiyah
Will (according to Islamic law a person cannot bequeath more than one third of his total inheri­tance nor can he bequeath in favour of his heirs).

Wilayah
guardianship.

Wilayat al-istidanah
authority granted by one partner to another to buy on credit beyond the limit of the capital of the partnership.

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