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'Aaqilah :

People who have ethnical relationship or rela�tionship of cooperation and help with an unin�tentional killer. They are legally obliged to bear blood money along with the killer.

'Abd :

slave; servant;�abd�madhun is a slave who has been authorized by his master to handle business on his behalf

'Ahd :

covenant; here it is used in the context of dhimmah (personal�ity), which is considered by the jurists a covenant with the Creator.

'Amal :

work; conduct.

'Aqd :

agreement, contract.

'Aqd ghayr 'Azim :

a contract that is terminable at the will of the parties, like partnership.

'Aqd Sahih :

A legal contract.

'Aql :

reason; fourth interest secured by the shariah and recognized as a purpose of the law; the existence of�aql�is an essential condition for ahliyat al-add.

'Ayn :

The corpus or substance of a thing. A thing present as distin�guished from one that is absents at the time of the contract. In Hanafi terminology, a thing is to be determined through weight or measure during a transaction of sale.

A 'yaan :

Plural of ayn. Goods or specific thing

Abddan :

sharikat al-abddan

Accrued Interest :

Interest that accumulates on the unpaid principal balance of a loan.

Accrued Profit :

Profit earned but not received from the customer.

Acquirer :

Acquirers are banks and financial institutions that collaborate with businesses to accept credit/debit card payments.

Additional Unit Purchase :

Excess purchase of units in Diminishing Musharakah to reduce bank's share in the asset

Adhaab / azab :

Punishment, especially the punishment for failing to obey Allah Taala. see the Holy Quran

Adl / adil :

Justice and equity. A fundamental value governing all social behaviour and forming the basis of all socialdealings and legal framework

Advance Booking :

Booking of vehicle with the manufacturer through advance payment.

Advance Rental :

Payment in the form of rent before the start of the lease term.

Afdal :

The best

Agency-based contract for investments :

Relating to Islamic banks, refers to investment contracts where the investment account holders appoint the Islamic bank as agent for investing their funds for a specified fee and share of profit if it exceeds a certain level, the latter being an incentive for the Islamic bank to achieve a return higher than expected.

Agreement stamping charges :

Charges paid by the customer for stamping of financing agreement.

AH :

After Hijra. Hijra means emigration. The Islamic calendar startsfrom the day the Holy Prophet Muhammad (S.A.W.), emigrated from�Mekkah�to Madinah, in 622 A.D.

Ahadeeth also spelled Ahadith :

Sayings and traditions of the Holy Prophet Muhammad (S.A.W.). Singular: Hadith.

Ahkam :

Plural of hukm (rule); the�ahkam�of a contract (legal ef�fects) as distinguished from its�huquq(rights of performance of the contract) the Hanna�s make a distinction between the two.

Ahl ar-ray :

Means people of opinion. It is refers to people that are consulted on Islamic matters. These people are highly learned in Islam.

Ahliyah :

Legal capacity

Ahliyat al-ada' :

Legal capacity for execution

Ahliyat al-wujub :

Legal capacity for the acquisition of rights and obligations.

Ahlul Kitab Wa�Sunnah :

Literally means "the People of the Book (the Holy Quran) and the sayings and traditions, i.e. the Sunnah of Prophet Muhammad (S.A.W.)".

Ajal :

period; duration for which delivery is delayed.

Ajanib :

plural of�ajnabi�(stranger); those who are not co-owners in a property.

Ajnabi :

stranger; see ajanib.

Ajr al-mithl / Ajrul Mithl :

reasonable wages; wages to which a person would be entitled under normal circumstances or customary in the community.

Al Hisba :

System of accountability in an Islamic state in order to check unlawful practices.

Al-Aamilu-Alaz-Zakah :

Zakah collector.

Al-bai :

A contract of sale. Tech: Sale of definite goods or property with the free consent of parties for a definite price. It involves proposal (� Ejab) and acceptance (qabul). It has many types.

Al-bai� al-batil :

An agreement of sale which is unlawful in respect of its substance and description.

Al-bai� bil takhir :

A contract of sale in which the payment has been deferred.

Al-khardj bi al-damdn :

a principle based upon a tradition; it is perhaps, the most influential principle in Islamic law, applies to contracts, damages, and even crimes.

Al-Mofaviza :

General Partnership (one of the types of partnership under Musharakah)

Al-Qard al-Hassan :

Loans fixed for a definite period of time without interest or profit sharing.

Al-sharikah dhat al-mas 'uliyah al-mahdudah :

the name for a private limited company in Egyptian law

Al-shirkah al-mutanaqisah :

A contract of partnership in an income-generating asset or venture, according to which one partner ends up owning that asset or venture at an agreed time schedule. One form of a �diminishing partnership� is where the bank�s share is sold to the other party at a nominal value utilizing the income generated from the asset itself.

Al-wadia / Al-wadi'ah :

This refers to deposits in trust, in which a person may hold property in trust for another, sometimes by implication of a contract.

Al-wakala al mutlaqa :

Resale of goods with a discount on the original stated cost. Absolute power of attorney.

Al-�aqd :

Legal contract implying an enforceable act involving a bilateral declaration, namely, the offer (�Ejab) and the acceptance (qabul).

Alaihis Salaam / A.S. :

May Allahs peace be upon him. A phrase which is usually read after the name of a prophet other than Prophet Muhammad (S.A.W.) is mentioned.

Alim :

An Islamic religious scholar. Plural: Ulamaa.

Allah :

The Name of the Creator of the Universe and all that it contains according to Islam. Derives from the word "Ilah" which means "the One deserving all worship", the One to Whom all hearts submit in love, fear, reverence, desire, trust and sincerity, and to Whom all limbs submit in all forms of worship such as prayers, supplications, sacrifices, invocations, etc.

Al�Fard�al Kifayah :

Socially obligatory duties. Literally, a collective duty of Muslims, the discharge of which by some of them absolves the rest of its performance, such as funeral prayers. Technically it covers such functions which the community fails to or cannot perform and hence are taken over by the state, such as the provision of utilities, building of roads, bridges and canals etc.

Amana / Amanah :

Lit: reliability, trustworthiness, loyalty, honesty; Technically, an important value of Islamic society in mutual dealings; anything, which is in posses�sion of a person who is not the owner of it for safekeeping. In case of unintended loss to the thing, he is not obliged to pay compensation.

Ameen / Amin :

Custodian or guardian; trustee.

Amir :

Amir is used in Islam to mean leader or commander.

Amortization :

Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.

Amortization Schedule :

Information of Equal Monthly Installments (EMI) with breakup of principal & markup along with loan outstanding.

Amwal :

Wealth; in business context wealth that is contributed as capital in a partnership; Plural: mal.

Annual Fee / Renewal Fee :

An annual fee typically charged to customers with credit cards/revolving line facilities for maintenance of their facilities.

Applicable rate :

Rate applied on the facility.

Application/Loan application form :

A form to be filled in and signed as per the Bank�s requirements to avail Banking facilities. Requirement of details to be filled in will vary for each facility. Applications may also require certain specified documents also to be attached.

Appraisal Agency :

Agency used for assessing market value of an Asset.

Aqeeda :

Literally means belief. In Islamic terminology, it means articles of faith

Ard al-waqf :

The land assigned to the welfare of the community either by the Islamic state, corporate bodies or by individuals.

Ardh / Ardhqw :

land; property that includes goods, slaves and even real estate; according to most jurists land is not eligible for enti�tlement to profit as compared to other things that are: wealth, labor, credit-worthiness�qiyas�(analogy); a principle of law; principal amount in a debt; see A�s al-mal.

Athaman mutlaqah :

absolute currencies; the term is usually applied to dinars and dirhams.


An automated teller machine or any card-operated machine or device whether belonging to the Bank or other participating banks or financial institutions or concerns or to the Visa Card or MasterCard global ATM Network, or the affiliated networks thereof, as the case may be, which accepts the Card.

Auto Loan :

The loans or financing facilities to purchase the vehicle for personal use.

Awkaf/ Awqaf :

A religious foundation set up for the benefit of the poor;� property voluntarily transferred to a charity or trust so that it is use for public benefits.

Ayah :

A verse of the Holy Quran. Literally means "a sign". Plural: Ayaat.

A�mal :

plural of�amal�(work) that is required in a partnership or based on which a partnership is formed