IFN RSS feeds twitter
 
Subscriber Login
User ID:
Password:
Not a subscriber? Request for free trial
 
IFN Search

 
IFN Company Directory

 
Build your own
IFN Research Report
 
 
Latest Supplement
Supplements
 
 
Currency Converter
 
Books
 
Upcoming Training
 
Upcoming Conferences
 
Partners
 
Glossary  
Definition of Major Islamic Finance Instruments
All  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z
 

Search term:


GCC = Gulf Cooperation Council

A political alliance and trade bloc consisting of six states of the Arabian Gulf: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

Ghalat = Mistake

A negative element that can affect the validity of `aqad. In Arabic, it connotes error in perception.

Gharar = uncertainty

One of three fundamental prohibitions in Islamic finance (the other two being riba and maysir). Gharar is a sophisticated concept that covers certain types of haram uncertainty in a contract. It is an exchange in which one or more parties stand to be deceived through ignorance of an essential element of the exchange. Gambling is a form of gharar because the gambler is ignorant of the result of the gamble. The prohibition on gharar is often used as the grounds for criticism of conventional financial practices such as short selling, speculation and derivatives.

Gharim =
Alternative spelling = Gharimun

A debtor who does not have the funds, after repayment of his debt, would not equal the nisab. The Shafi`i and Maliki jurists divide the gharimun into two types: (i) those whose debts were incurred in their own benefit; and (ii) those whose debts were incurred benefiting others. The gharimun are one of the eight groups mentioned in the Quran as legitimate recipients of zakah funds.

Ghasb = forfeiture

Wrongful appropriation of property by force

 

 
Latest Issue
Wednesday 23rd July 2014
Volume 11 Issue 29
   
Cover Story
IFN Rapid
News Briefs
Asset Management
Takaful
Ratings
Moves
IFN Reports
  Conventional banks switching to Islamic operations — testament to the industry’s capabilities
  Islamic finance: A healthy pipeline for Saudi healthcare
  The fall of a giant — can Al Rajhi rise again?
  Islamic entities lead Pakistan privatization program
IFN Country Correspondents
  France: Islamic finance task force to attract liquidity into infrastructure projects
  Sri Lanka: Domestic market sees dynamic growth
IFN Country Analysis
  Senegal: Sukuk dreams realized
IFN Sector Analysis
  Islamic leasing: Going global
Features
  Senegal issues Sukuk, becomes strong contender for West African Islamic finance hub
The government of Senegal issued a Sukuk of XOF100 billion (US$208 million) that closed on the 18th July, tapping a global market that could surpass record issuance of US$46.5 billion in 2012, according to arrangers ICD and Citigroup...
  Aircraft leasing: A first class opportunity for Islamic financing
Aircraft leasing was initially conceived as a tax efficient means of financing increasingly expensive commercial aircraft...
  Islamic leasing — the preferred choice
Ijarah leasing is a mode of finance that has been growing in popularity across multiple sectors and markets as a cost-effective method of financing both in the banking and non-banking sectors, either directly or through independent subsidiaries...
  MicroTakaful in Indonesia: A new business opportunity
MicroTakaful has a vast potential customer market around the world, and Shariah compliant microinsurance is making strides in emerging markets across the globe...
Case Study
Cagamas issue: The largest commodity Murabahah variable rate IMTN

Go top