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Consumer Zone

Glossary

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U

  • Ujrah ,fee
    The financial charge for using services, or manfaat (wages, allowance, commission, etc...)
  • Underwritting profit/loss,Earned contribution income less net claims incurred, commissions and management expenses.
  • Unearned contribution,Contributions already received in respect of risks which are still unexpired at the end of the reserves accounting period
  • 'Uqud al-Mu'awadhat,contracts of exchange
  • 'Uqud al-Tabarruat,charitable contracts
  • Urbun ,deposit
    Earnest money which forms part payment of the price of goods or services paid in advance, but will be forfeited in the event the transaction is cancelled. The forfeited money is considered as hibah (gift)

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