• Amanah: Trusteeship

• Aqad : Contract, consisting of all tenets of a contract

• Arbun : Down payment deposit to retain a right to transact (future date)
• Al Ayn : Delivery of a Physical Asset

• Bai Ad-Dayn : Sale of Debt

• Bai Al Ma’Dum : Sale without Asset 
• Bai Al Sarf : Exchange of Money for Money
• Bai Bithaman Ajil / Bai Muajjal : Deferred Payment Sale, over a period of time

• Bai Inah : 2-party Sale (for Cash)

• Bai Salam : Trust Sale

• Bai Wa Salaf : Exchange contract Contingent to a Qard
• Dayn Lazim : Established Debt
• Dhamanah : Guarantee
• Fasakh : Dissolution

• Fatwa : Edict, opinion or judgement based on religious sources scholarly discussion

• Gharamah : Penalty

• Gharar : Uncertainty, unmitigated risk

• Hadith : Sayings of the Prophet as recorded

• Halal : Permissable, Clean & Pure

• Hamish Jiddiyyah : Security Deposit

• Haram : Prohibited

• Hibah : Gift

• Hibah Ruqba : Conditional Hibah upon demise of a party

• Hilah : Trick (contractum trinius)

• Hiwalah : Remittance / Payment / Transfer
• Hiwalah Al Dayn : Transfer of Debt Obligation
• Intiha : Completion
• Ibadah : Worship

• Ibra’ : Rebate / Absolution

• Ijab : Offer (tenets of a contract)
• Ijarah Al Ashkhas : Employment Contract

• Ijarah / Ijarah Tasghiliyyah: Rent (Operating Lease)

• Ijarah Mausufah Fi Dhimmah : Forward Lease (Rent during construction with obligation / Financial Lease)

• Ijarah Muntahiyah Bi Tamleek / Wa Iqtina : Rental with intention to own / gift at end of period (Financial Lease)

• Ijarah Thumma Al Bai : Rent with eventual sale (Hire-purchase / Financial Lease)

• Ijma‘ : Consensus of Muslim Jurist

• Isqat Haq : Relinquishing of Rights (see also Tanazul)

• Istijrar : Staggered sale (time-to-time sale), Supply Contract

• Istina’a : Order to Construct (Under construction)
• Iqalah : Mutual Cancellation

• Jualah : Service Charge

• Kafalah : Guarantee

• Kafil : Guarantor

• Khiyar Al Ayb : Defect Option
• Khiyar Al Majlis : Session Option
• Khiyar Al Shart : Conditional Option

• Maisir : Unearned income, unfair income (part of gambling)

• Ma’Qud Alaih : Subject Matter
• Ma Ya’ul Ila Al Luzum : Debt to be Established in the future
• Marhun : Pledged Collateral
• Marhun Bih : Collateral to Fulfill Obligation

• Mazhab : Views of Prominent Scholar or School of Thoughts

• Muamalat : Man-to-Man transaction
• Mua’wadat : Exchange contract

• Mubarri’ : A person who grants Ibra’

• Mudharabah : Profit Sharing. Commonly for investments. 

• Mudharabah Muqayyadah : Profit Sharing with Restricted investments.

• Mudharib : Entrepreneur, in a Mudharabah transaction

• Mudharib Yudarib : Entrepreneur investing in another entrepreneur

• Mudi’q : Safekeeping Depositor

• Mukhalafah Al  Shurut : Breach in terms / conditions

• Murabahah : Cost-plus sale (financing)
• Murtahim : Pledgee

• Muqassah : Set-Off

• Musawamah : Simple Sale

• Musataha : Sale and Lease Back to construct

• Musyarakah : Partnership, Joint-venture

• Musyarakah Mutanaqisah : Diminishing partnership

• Muwakkil : Principal (as in Principal Person)

• Nasi’ah : Delay (used in relationship in delay of payment of money)

• Qabd Haqiqi : Physical Possession
• Qabd Hukmi : Constructive Possession
• Qabul : Acceptance (tenets of a contract)

• Qardh : Loan

• Qardhul Hassan : Benevolent Loan

• Qimar : Gambling

• Qiyas : Analogy to derive a decision

• Rab Ul Maal : Capital providers, Fund owner
• Rahin : Pledgor

• Rahnu : Collateralised debt or pledge (pawn broking)

• Riba’ : Usury (interest)

• Salam : Order Sale

• Sarf : Exchange (of foreign currency)

• Shariah : Law (Islamic) literal definition – way, path

• Shirkah : Partner

• Sighah : Act of Offer and Acceptance

• Sukuk : Certificates (Securitised Assets – objectives similar to bonds)

• Sunnah : Actions of the Prophet as recorded

• Ta’addi : Misconduct

• Ta’widh : Compensation

• Tahawwut : Hedging

• Takaful : Mutual assistance

• Takharuj : Relinquishing the Share of Profit or Inheritance

• Takhliyah : Relinquishing Rights of Ownership

• Tamkin : Enabling Rights of an Asset

• Tanazul : Relinquishing or Waiver of Rights (see also Takharuj)

• Taqsir : Negligence

• Tawarruq Murabahah : Tripartite Cost-plus Sale

• Tawliyah : Sale of Asset at Cost Price

• Ujrah / Ujr’ : Compensation or Service Charge

• Urbun : Earnest Money

• Uruf Tijari : Customary Business Practice

• Yad Amanah : With Trust (used with Wadiah)

• Yad Dhamanah : With guarantee (used with Wadiah)

• Waad : Promise

• Waad Mulzim / Muwa’adah Mulzimah : Binding Promise
• Wa’dan : Unilateral Promises

• Wadi’q : Custodian

• Wadiah : Safe Custody

• Wakalah : Agency

• Wakalah Bil Istihmar : Agency for Investment

• Wakalah Bi Ujrah : Agency for Services

• Waqaf : Benevolent Endowment (no human ownership)

• Wasi : Nominee

• Wassiyah / Wasiat : Will

• Zakah / Zakat : Alms (Islamic form of tax)

Check out also the other comprehensive list of Islamic Banking terms from the following websites:

1. Five Pillars (click Here)
2. Learn Islamic Finance (click Here)