Category «Islamic Finance»

Five (5) options / rights [Khyarat] that are enacted with a transaction in Islamic Economics

The term khiyār refers to the option or right of the buyer and seller to rescind (i.e. cancel) a contract of sale. There are five khiyārāt (pl. of khiyār) in a sale contract which are as follows: 1. Khiyār al-Sharṭ (Optional condition), where, at the time of a sale, the buyer or seller can make …

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