Glossary

S

  • Deferred delivery sale

    [bay` as salam]

    The sale of fungible goods to be delivered in the future for a price to be paid in the present. Synonyms: salaf, bay` `ajil bi ajil.

    • Arabic: بيع السلم
  • Islamic bond

    [sukuk]

    A term used in contemporary Islamic finance to describe financial certificate equivalents to conventional debt issuances such as bonds. However, unlike debt issuances, sukuk holders are the legal and/or beneficial owners of the underlying assets, and as such, receive the equivalent of a coupon from the performance of the yielding asset.

    • Arabic: صكوك
  • Islamic law

    [Shari’a]

    Islamic law, originating from the Qur'an, as defined by practices and explanations rendered by the Prophet Muhammad (pbuh) and ijtihad of ‘ulama (personal effort by qualified Shari’a scholars to determine the true ruling of the divine law in a subject matter).

    • Arabic: شريعة
  • Long shirt and Pants

    [Shalwar kameez]

    Long shirt and pants traditionally worn in Subcontinent

    • Arabic: قميص طويل وسراويل
  • New Joint Investment concept

    [Shekra]

    Shekra is a new joint investment concept drawn from the Arabic phrase "sherik fekra" in Arabic, which means "share an idea." The platform was launched in Cairo last November by seven founders who come from backgrounds in technology, aviation, investment and banking, who have pooled their resources to support Egyptian startups

    • Religious leader

      [Sheikh]

      A religious leader in a Muslim community or organisation,.

      • Arabic: شيخ