Used in two senses. First, it is equivalent to that form of tenancy in which the landlord receives a fixed share of the crop or a fixed sum of money or both; it is thus almost synonymous with muzarah and kira al-ard. Second, tax-farming in which a tax-farmer guarantees and pays a lump sum to the state and obtains the right to collect rents and revenues from the contract land, retaining the difference between the two.
In a contract of qabalah, a person who provides surety in landed property for the payment of tax. It is used in the same sense as al-kafil. The qabil was a tax-farmer who acted as an intermediary between the tax payers and the government's tax collectors.
A virtuous loan. Tech: A loan with the stipulation to return the principal sum in the future without any increase.
A measure oflength: 13.6604 square metres.
Tech: Relating to zakat administration, it refers to the person appointed to distribute zakat revenues.
See al-muqataah.
See al-iqta.
Incorporated on 7 July 1983. Authorized capital, QR200 million. Paid-up capital, QR50 million.
Value, worth, size of an amount. Tech: Price of an article as prevalent in the market as compared to thaman which is the price of an article as agreed by the buyer and the seller irrespective of the marker price.
Gambling. Tech: An agreement in which possession of a property is contingent upon the happening of an uncertain event. By implication it applies to those agreements in which there is a definite loss for one party and definite gain for the other without specifying which party will lose and which will gain.
Non-fungibles. Tech: Things those are distinguishable. For example, if a person borrows a horse, it is not the same thing to return any horse. Horses are distinguishable by color, age, lineage, etc., and are therefore qimi. See al-mithli for indistinguishable things.
A weight of varying measures in different periods of.Muslim history. It refers to a large quantity of gold and silver. Some say it was equal to 1200 uqiyah; others say it was equal to 1000 dinars; still other's think it was equal to 1200 dirhams. In another opinion it was 80,000 dirhams or 100 ratl of gold.
An alternate term for al-mudarabah.
Market for qirad funds. In Islamic economy funds for qirad may be available through banks, insurance companies, joint stock companies, mutual funds, investment trusts and other financial intermediaries. The supply of and demand for qirad funds determines the ratio for distributing uncertain outcomes of the enterprise. This ratio has been variously termed in the literature as qirad rate, profit-share, B.R.P-D.R.P., mudarabah rate, etc. The qirad market automatically adjusts this rate but the central bank may also intervene and prescribe qirad rates for different sectors.
A measure of weight and length of varying sizes in different ages. A qirat for measuring silver and commodities is equivalent to 0.248 grams and for measuring gold, 0.2120 grams. For lI!easuring length, a qirat is equivalent to 175 metres.
Lit: A skin bag for water. Tech: A measure for liquids equivalents to 40 sa or 68.48 litres.
Distribution of the assets of the bankrupt among the creditors in proportion to their debts.
A measure. Tech: One qist is 0.5 sa. According to Hanafites it is equal to 1.631 kilograms or 1.680 litres, while according to other jurists it is equal to 1.086 kilograms or 1.374 litres.
Measure, example, comparison, analogy. Tech: Derivation of the law on the analogy of another law if the basis (illah) of the two is the same. It is a primary source of Islamic economics.
The book of Allah revealed to the Prophet Muhammad and transmitted to the present age through an incessant chain.
In a contract of muhaqalah, grains left over in the ears after thrashing. The qusarah also belonged to the landlord.