Sufficiency. Tech: That standard of living which provides subsistence and honour in a Muslim society.

Surety ship, bail, guarantee. Tech: A contract of surety ship in which a person adds to his responsibility or liability on behalf of another person in respect of a demand for something.

Providing a surety to the buyer for the delivery of a commodity according to specifications. It also refers to the performance bond in a contract.

Surety for the payment of the price of a commodity bought on credit by another person.

Providing a surety for returning a rented asset in proper condition on the termination of the contract of hire.

Security of people, sponsorship for people. Tech: Relating to functions of an Islamic state, it is an important responsibility of the state to ensure for everybody at least those necessities which are essential for the survival and maintenance of human life. It includes food, shelter, dress, and medical aid. But the list will vary according to the socio-economic conditions of the state. The responsibility of the state does not, however, mean provision of these necessities to all citizens except that the state will assist only those who are in need of help due to some physical, social or economic disability.

Grass, herbage, pasture. Tech: Grass grown up naturally. It is one of the three things, along with water and fire, which the Prophet explicitly made a public property and prohibited its monopoly in any form.

Relating to the law of inheritance, al-kalalah is a person who has neither parents nor children. His wealth is inherited by brothers and sisters in given ratios (Quran 4: 176) in the absence of whom it is credited to the bait aI-mal.

Debt whose repayment is postponed.

A treasure trove. Tech: Wealth on which zakat has not been paid. It also refers to the unproductive or idle wealth even though zakat has been paid on it.

Relating to the law of zakat, it refers to the best of the animals in a flock.

Winner, earner, provider. Tech: One who earns by physical or mental labor. Mostly used for the self-employed and business people. It is distinct from al-ajir who 'sells' his labor to someone else.

Relating to the law of zakat, one who acts as scribe or clerk to the zakat-collector. He is included in the category of al-amiliin and is paid out of zakat funds.

Relating to the law of zakat, the person who measures off zakat dues. He is included in the category of al-amilin and is paid out of zakat funds.

Relating to the law of ushr, it refers to such natural watercourses as rivulets, canals and streams.

See Kuwait Finance House.

See al-taljiah.

Substitute, succession. Tech: Relating to the law of ownership, it refers to securing or taking possession of things through succession under the law of inheritance.

Mixed, blended. Tech: A partner (of a business) whose assets cannot be distinctly identified from those of other partners. It contrasts with the sharik, whose assets can be identified distinctly. Also, relating to the law of zakat, it refers to livestock (al-mashiyah) owned by two or more partners where it is not specified which animal belongs to whom.

Land tax which is levied by the state on the state-owned lands whether the cultivator is a lease-holder or a permanent tenant. The rates can be different in different times. Al-kharaj is payable only once in a year, irrespective of the number of crops, except in the case of kharaj al-muqasamah where it is assessed on each crop. See al-jizyah also.

The right to own the yield of a property for which one is responsible in case that property is destroyed. For example, if a person buys a house and then rents it out, but subsequently notices a defect in the house and returns the house to the seller, the seller has no claim on the rent during the period the house remained with the buyer. It states the principle of Islamic jurisprudence that the yield from an asset is for the one who is liable for that asset and one who does not bear the liability has no claim to the yield.

See aI-jizyah

Land revenue fixed as a percentage of the actual produce of the land as contrary to al-kharaj al-muwazzafah, which is fixed in terms of cash.

The amount of kharaj fixed as a lump sum to be paid by the vanquished enemy as a result of an agreement. This is in contrast to al-kharaj al-muqaasamah and al-kharaaj al-muwazzafah, which are related to the land and its produce.

Land revenue fixed by the state in terms of cash as contrary to al-kharaj al-muqasamah (share-cropping), which depends on the actual produce of the land.

A fixed amount (dirhams or dinars) that is assessed upon the land as tax. Also known as al-kharaj al-muwazzafah.

Rent of land, especially from fiefs (iqta) donated to someone.

Relating to the administration of ushr; the government official deputed to assess the yield of fruit-trees and crops for levying ushr.

Assessment of a crop still in growth. Also applied to a sale transaction when the commodity sold is not weighed, measured or counted.

Lands extensively meant for the Prophet in a special way, which are of three types: Fadak and the land of Banu Nadir and all the goods therein which 'God had returned' to him without war. Second, safiy or safiya which the Prophet had selected from the booty before it was divided among Muslims. Third, one fifth of the khumus of the booty, i.e., 1/25th of the booty.

Bond or bill of exchange. Tech: The term was in vogue during the Muslim period. It was an important banking instrument.

A credit instrument of mediaeval Spain comparable to cheques of the modern day banks.

Faithlessness, breach of faith, deception. Tech: It is an important characteristic of the hypocrites and the Muslims are to be distinguished from non-Muslims by their complete abstinence from khiyanah. It is opposite of amanah (honest dealing). In economics khiyanah refers to all sorts of cheating whether at micro or at macro level.

Option Tech: A term used to express an option within a certain period after the conclusion of a bargain during which either of the parties may cancel it. Its main types are: khiyar al-shart, optional condition, where one of the parties stipulates for a period of three days or less; khiyar al-aib, option from defect, the option of dissolving the contract on discovery of defect; khiyar ai-TU yah, option of inspection, option of rejecting the thing purchased after sight; khiyar al-tayin, option of determination, where a person having purchased two or three things of the same kind, stipulates a period to make his selection; khiyar al-majlis, the condition of withdrawing from the contract as long as the meetings of the parties continue; khiyar al-naqd, where the seller has the option to cancel the contract if the buyer does not pay in cash up to a certain agreed date; khiyar al-ghubn, the option of the buyer to cancel the contract if the seller has sold it at a price higher than what evaluators evaluate, khiyar kashj ai-hat, the buyer's option to cancel the contract on knowing the specifications of the product where a product is sold without specifications; khiyar al-qabul, the option to accept or reject a proposal, in a contract of sale, before the proposal is accepted, the option is surrendered by giving acceptance to the proposal; khiyar altaghrir, option to rescind the contract if the seller perpetrates a fraud causing loss to the buyer.

see al-khiyar

See al-khiyar.

See al-khiyar

See al-khiyar

See al-khiyar

See al-khiyar

See al-khiyar.

See al-khiyar.

See al-khiyar.

See al-khiyar.

An alternate term for bait al-mal, mostly applied in Muslim Spain.

Lit: one-fifth. Tech: It has come to be known as the one-fifth share of the state from the booty. In the early days of Islam, it used to be one of the major sources of public revenue.

One-fifth of the khumus or 1/25th of the entire booty. The Prophet divided the khumus into five shares: Allah and His Prophet, relatives of the Prophet, orphans, masakin and travellers.

Rent of land. Tech: Rent of public lands received in the bait al-mal. It is an important source of revenue in an Islamic economy with agricultural bias.

Single purse. Tech: Relating to partnership business, most probably the usage owes its origin to the single purse of money which the partners used to operate.

Most commonly used measure of wheat in Iraq (tenth and eleventh centuries A.D.), equivalent to 7200 ratls.

A wheat measure employed in Iraq (tenth and eleventh centuries A.D.) equivalent to 3000 ratls.

It was established by the government of Kuwait on 23 March 1977. It started its operations on 31 August 1978 with 49 per cent shares held by the government and 51 per cent by private individuals. KFH is engaged in banking, insurance, real estate, share dealings and general trade on profit and loss sharing basis. The KFH also undertakes social operations, such as distribution of zakat, building of schools, mosques and clinics. It also provides qard hasan.