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.

This is the final post from the series. We hoped you learned a bit.

Ulema pl. of ‘alim, Shariah a scholars or jurists.

usul al-fiqh Islamic legal theory.

wadia Safe-keeping

waqf A standard Islamic transaction in which one ‘freezes’ his property such that it is considered to have been arrested in perpetuity and can neither be sold, inherited or donated.

wasiyyah Will, testament, bequest.

zakah In Shariah, it is an obligation in respect of funds paid for a specified type of purpose and for specified categories.

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