Glossary

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Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Mortality Table
A statistical table showing the death rate at each age, usually expressed as the number of deaths per thousand.
Mudhārabah مضاربة
An agreement between a capital provider (rabbul māl) who provides 100% capital for a business and entrepreneur (mudhārib) who manages the business applying his expertise. Under this contract, the resulting profit is to be shared between them according to a pre-agreed ratio, while any loss is to be borne solely by the provider of capital.
Muqāsah مقاسة
Debt settlement by contra transaction or setting off.
Musāqah مساقة
An agricultural contract whereby the owner of agricultural land shares its produces with another person in return for his services in irrigating the garden.
Musāwamah مساومة
A general kind of sale in which price of the commodity to be traded is bargained between seller and the purchaser without any reference to the acquisition cost incurred by the seller.
Mushārakah Mutanāqisah مشاركة متناقصة
Diminishing mushārakah; allows equity participation and sharing of profits in a pre-agreed ratio, and sharing of losses on a pro-rata basis. This provides a method through which the bank keeps on reducing its equity in the asset, ultimately transferring ownership of the asset to the customer/ partner.
Mushārakah مشاركة
A contract between two or more parties to contribute capital in various proportions to a partnership. Profits generated by the partnership are shared in accordance with the terms of mushārakah contract whilst losses are shared in proportion to the respective contributors’ shares of the capital.
Muzāra'ah مزارعة
An agricultural contract whereby a person works the land of another person in return for a share in the produce of the land.
Net Investment Income
Returns on investments less rates and taxes.
Participants’ Account
An account to credit a portion of contributions from the participant for the purpose of investment/savings

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