Customary practices which are in compliance with Shariah.
Cost to purchase or acquire an asset including its price and direct expenses.
A state where a person does not have actual possession, but has the legal rights to control an asset.
Costs or expenses incurred to directly enable the acquisition of goods by the IFI and delivery of the goods to the customer.
Expense indirectly incurred and not directly chargeable to a specific acquisition, project or task.
Khiyar al `Ayb
Option arising from defect; the option of dissolving the contract on discovery of defect in the goods purchased.
Generic term for accounts receivable, cash, and bank balances i.e. assets that are realizable at the amount stated in the accounts.
A state where a person has actual possession and the rights to control an asset.