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A bride signing the nikah nama (marriage contract). An Islamic marriage contract is considered an integral part of an Islamic marriage, and outlines the rights and responsibilities of the husband and wife or other parties involved in marriage proceedings under Sharia. Whether it is considered a formal, binding contract depends on the jurisdiction.
Reportedly the most popular mode of Islamic financing is cost-plus murabaha in a credit sale setting (Bay bithaman 'ajil) with "an added binding promise on the customer to purchase the property, thus replicating secured lending in `Shari'a compliant` manner." The concept was developed by Sami Humud, and shortly after it became popular Islamic ...
Wakalah is a non-binding contract for a fixed fee and the agent or the principal may terminate this agency contract at any time "by mutual agreement, unilateral termination, discharging the obligation, destruction of the subject matter and the death or loss of legal capacity of the contracting parties". [163]
The agreement to transfer of ownership should not be a pre-condition to the signing of the leasing contract. [14] The “promise” to transfer the ownership should be unilateral and should be binding only on the lessor. [14] Another source (investment-and-finance.net) [16] describes Ijarah muntahia bittamleek as being though
A formal, binding contract – verbal or on paper [1] – is considered integral to a religiously valid Islamic marriage, and outlines the rights and responsibilities of the groom and bride. Divorce in Islam can take a variety of forms, some executed by a husband personally and some executed by a religious court on behalf of a plaintiff wife ...
Bai Salam (Arabic بيع سلم, more accurately transliterated as Bai us Salami) is an Islamic contract in which full payment is made in advance for specific goods (often agricultural products) to be delivered at a future date. It is necessary that the quality of the commodity intended to be purchased is fully specified leaving no ambiguity ...
Nikah 'urfi (Arabic: نكاح العرفي) is a "customary [marriage contract] that commonly requires a walī (guardian) and witnesses but not to be officially registered with state authorities. Couples repeat the words, "We got married" and pledge commitment, although there are many other informal ways in which people marry 'urfi .
Structure of simple mudaraba contract [11]. Mudarabah is a partnership where one party provides the capital while the other provides labor and both share in the profits. [12] [13] The party providing the capital is called the rabb-ul-mal ("silent partner", "financier"), and the party providing labor is called the mudarib ("working partner").