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Glossary

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H

  • Halal,lawful, permissible.
    The concept of halal has spiritual overtones. In Islam, there are activities, professions, contracts and transactions that are explicitly prohibited (haram) by the Quran or the Sunnah. All other activities, professions, contracts and transactions are halal.
  • Haq Maliy,rights on the financial assets.
    Haq Maliy are rights on the finanacial assets. Examples of such rights are haq dayn (debt rights) and haq tamalluk (ownership rights).
  • Haram,unlawful, forbidden.
    Activities, professions,contracts and transactions that are explicitly prohibited by the Quran or the Sunnah. See Halal.
  • Hibah,gift.
    A gift voluntarily donated in return for a loan provided or a benefit obtained.

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