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Glossary of Islamic Banking Terminology

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Nasi’a

by way of nasiah, that is, with a delay in the delivery of one or both counter-values in a contract of exchange (bay).

 

Nass

text; word or text with a single meaning; text from the work of a jurist.

 

Nisa (Riba al)

A type of interest. Taking interest on loaned money. An act which Haram. See the Holy Quran, Al-Baqara (2):275-280 and Aaliimran(3):13O.

 

Nisab

A threshold of wealth of which any excess is subject to  Zakah.

 

Nizam

institution; term used in Saudi law for the corporation, in place of the usual term sharikah, in Arab law.

 

Nostro

Our Correspondent Account with others, owner is not known.

 

Nubzah

beverage made from dates; mead of dates.

 

 

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