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Shariah Terminologies

Shariah Terminologies
NO
CONVENTIONAL TERMS
ISLAMIC TERMS
1.
Interest (Riba/ ربا )
Profit – Sale based contract (Al-Ribh/ الربح )
Dividend – CASA/IA account (Mudharabah) (Al-Hissah/ الحصة )
Hibah – CASA (Wadi’ah) (Al-Hibah/ الهبة )
2.
Loan/Borrowing (Qardh/ قرض ) Islamic Loan without interest is acceptable.
Financing (Al-Tamweel/ التمويل )
3.
Repayment (Sadad al-Dayn/ ر دُ اُلدين / سداد اُلدين )
Payment (Daf’un / دفع )
4.
Borrower (Muqtaridh/ مقترض )
Customer (Al-Zaba’in/ الزبائن )
5.
Lender (Muqridh/ مقرض )
Financier (Al-Mumawwil/ الممول )
6.
Insurance (Ta’min/ تأمين )
Takaful (Al-Takaful/ التكافل )
7.
Penalty (Gharamah/ غرامة )
Compensation (Ta’widh/ تعويض )
8.
Fixed Deposit Account (Wadi’ah marbutah/ وديعة مُربوطة )
General Investment Account (Hisab al-Istithmariah al-‘Ammah/ حساب اُلاستثمارية
العامة )
Fixed Term Account-i (Hisab Muddah Muhaddadah/ حساب مُدة مُحددة )
9.
Overdraft (Al-Sahb ‘ala al-Makshuf/ السحب عُلى اُلمكشوف )
Cash Line (Khat al-Naqdiah/ خط اُلنقدية )
10.
Non-performing Loan (NPL)
(Al-Qurudh ghayr al-‘Amilah/ القروض غُير
العاملة )
Non-performing Financing (NPF) (Al-Tamweel ghayr al-‘Amil/ التمويل غُير اُلعامل )
11.
Early Settlement Penalty
(Gharamah al-Saddad al-Mubakkir/ غرامةُ
( السداد اُلمبكر
Reduction of Ibra’ (Ibra’/ ابرأ )
12.
Bond (Sanadaat/ )سندات
Sukuk ( )صكوك

Source: http://www.almaany.com & various banks in Middle East.


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