This blog is not only useful for news on islamic banking and only for specialists in the field. We also want to share things for people interested in learning more about this financial sector that, as you have seen, is growing more and more.

We continue with the letters B, C and D:

bai al-dayn Sale of debt or receivables.

bai al-bithaman ajil Deferred-payment sale, credit sale.

bay` Sale; an agreement between two parties (the seller and the buyer) to the effect that the ownership of the sale item is transferred from the seller to the buyer in exchange for a price.

bay` al-mu’ajjal Deferred payment sale, credit sale; a sale in which payment is delayed and delivery of the contracted goods is immediate

bayt al-mal The treasury of the Muslim Community; historically, the bayt al-mal as an institution was developed by the early Caliphs but which soon fell into disrepair. The funds contained in the bayt al-mal were meant to be spent on the needs o the Ummah e. g. supporting the needy.

daman Responsibility for financial coverage in the case of destruction or damage.

dayn Debt; some form of wealth which one is required to pay back to another.

dhimmah Dhimmah is a basic term in fiqh al-mu`amalat which roughly corresponds to the concept of liability. A debt is said to be “established in someone’s dhimmah” if he is in debt to someone else. The fuqaha’ also speak about a person’s dhimmah “being occupied ” and “being cleared.” The concept of dhimmah may be likened to a virtual liability container which it may be said that every responsible person has. These containers, it may be imagined, are constantly being filled with rights and obligations–such as the obligation to repay someone.

Source: financeinislam.com