Saa (Al)
- A cubic measure of varying magnitude, Tech: One sa equals
8 rat! (in Hanafite school) or 5.33 ratl in other schools.
In Hanafite school it is equivalent to 3.2615 kg, whereas in
other schools it is equivalent to 2.172 kg. For measuring
liquids, it is equal to 3.363 liters according to Hanafites
and 2.748 liters according to others.
Saahib AI Maal
- In a mudarabah contract, the person who provides the
capital. See also rabbal-mal.
Saahib Al Iinah
- In a contract of bai al-inah, the borrower.
Saahib Al Kharaaj
- An officer of the Muslim government responsible for the
collection and administration of al-kharaj.
Saahib Al Maks
- Tax-collector. Tech: Tax-collector in the market who would
take as tax more than what is due. Such a dishonest official
has been condemned by the Prophet.
Saahib Al Nisaab
- Relating to the law of zakat, one who possesses wealth in
excess of the exemption-limit. Also used for one who
possesses sufficient means to offer sacrifice or make the
pilgrimage to Mecca. See also nisab.
Saahib Bait AI Maal
- See bait al-maal.
Saaibah (Al)
- A property that has been abandoned by its owner without
transferring it to someone else.
Saaiis
- Stableman. Tech: The person who used to collect zakat on
cattle.
Sabr (Al)
- Patience. Tech: A value of Islamic society. Muslims are
enjoined to bear economic hardship with patience and not to
feel inclined towards acquiring resources by unlawful means.
It does not preclude, however, protest against economic
injustice and exploitation.
Sadaqaat Al Waajibah (Al)
- Compulsory charity such as zakat, sadaqah al-fitr, etc. It
also includes penal charity for such sins as breaking of
oath, breaking of fast, etc.
Sadaqah (Al)
- Charity. Tech: In its widest sense it means an attitude of
mutual appreciation, affection, mutual assistance, an act of
loyalty to God and to one`s fellow beings, a sense of true
human hood. At material level it consists of two kinds: al-sadaqah
altatawwu given at the free will of the donor and zakat, the
obligatory tax imposed by the Quran on the wealth of every
Muslim having wealth beyond a certain limit.
Sadaqah Al Fitr
- A small sum levied on all Muslims having income above a
certain exemption level to be paid during the month of
Ramadan to the poor people of the community. This sadaqah is
obligatory and is an important part of the overall system of
sadaqat in Islam.
Sadaqah Al Jaariyah (Al)
- A form of charity, benefits of which continue to accrue
over generations, such as building a mosque, providing a
well for drinking-water and constructing inns for travelers,
etc. The range of al-sadaqah al-jariyah is very broad. The
establishment of charitable trusts (awqaf) is an important
example, Muslims have been exhorted by the Prophet to invest
their wealth in sadaqah al-jariyah with rich promises of
reward in the Hereafter. Spending on such acts carries a
high value in Muslim society.
Sadaqah Al Najwah
- Contribution required before seeking private consultation
with the Prophet. This was made obligatory for a short time
but abrogated subsequently,
Sadaqah Al Sawaaim
- Zakat on the grazing animal, See also al-sawaim,
Sadiis (Al)
- Relating to the nisab of zakat, a camel in its eighth
year.
Saduuqah (Al)
- Official designation for informal partnership during
Fatimide and Ayubide Egypt.
Safaahah (Al)
- Foolishness, imprudence. Tech: The quality of squandering
wealth recklessly and against the spirit of the shan`ah. It
includes israf and tabdhir. The quality of safahah invites
the law of hajr by which the state can impose such
restrictions on the utilization of assets as may be
necessary to safeguard personal and social interests. One
who has the quality of safahah is known as al-saJih (plural,
sufaha), which is the antonym of al-rashid. Sufaha include
minor children, lunatics, extravagant persons and those who
spend money to promote evil in the society. See al-hajr
also.
Safiih (Al)
- See al-safahah.
Safiyah (Al)
- Share taken by the leader of an army before division of
booty, such as horse or a sword. The term was later used as
sawafi (singular, safiya) lands or possessions which the
sultan (ruler) appropriated exclusively for himself. It also
means all lands which their owners have abandoned or the
owners of which have died leaving no heirs.
Safqah (Al)
- Striking of the hand of one person upon the hand of
another in ratifying a sale or purchase and a covenant. It
is also used to signify the contract that is itself made in
the case of a sale.
Sahib Al Ashghaal
- Finance secretary in fourteenth century Muslim Spain. See
also musharrif.
Sahib Al Suuq
- Guardian of the market. Tech: An alternate term for the
muhtasib before the latter term gained currency.
Saib Al Bahr
- Product of the sea, such as fish, amber and pearls. They
are a free, natural gift and fall in the category of public
property.
Saii (Al)
- The messenger. Tech: Zakat-collector who visits people at
their places to collect the zakat.
Sakk (Al)
- Order of payment. Tech: The term was in vogue during the
Muslim period. The sakk was a payment order on a banker with
whom a person had an account.
Salaf
- Advance payment, prepayment, free-loan, non-interest
bearing loan. Tech: It includes loans for specified periods,
i._. short, intermediate and long-term loans. But if it is
to be paid on demand, it is called qard.
Salam
- See bai al-salam.
Sawaanii (Al)
- Camels which work on wells to irrigate land. Half-ushr is
levied on the produce of the land worked by al-sawani.
Sawm (Al)
- Offer for sale (a commodity). Tech: It implies distracting
a customer by offering a lower price or superior quality of
an article; for instance, 2 persons might offer a certain
commodity for a certain price, but another person might say,
`I can sell you the same thing for a lower price.` In modern
language it implies to undersell a commodity or to dump
goods at a lower price on the market.
SESRTCIC
- See Statistical Economic and Social Research and Training
Centre for Islamic Countries.
Shafii Shariik
- A person who is a co-owner of some undivided immovable
property with another person or persons.
Shafiijaar
- A person, who owns an immovable property adjacent to the
immovable property sold, has a right of pre-emption.
Shafikhaliit
- A participant in the immunities and appendages of
immovable property sold, such as the right of passage, the
right of passage of water or the right of irrigation.
Shahnah
- Relating to the administration of iqta in India of the
sixteenth century A.D. The shahnah performed the functions
of an amir who, instead of the muqta (assignee), governed
the khalissah areas.
Shaiirah (Al)
- A grain of barley. Tech: Weight equivalent to 0.06 grams
and a measure of length equivalent to 0.320 cm.
Shariiah (Al)
- The way. Tech: The way of Allah as shown by the Quran and
the sunnah of the Prophet. It is generally spoken to mean
the Islamic law.
Shibr (Al)
- Span of the hand. Tech: A measure of length equal to 12
fingers, or 9 inches or 23.1 cm.
Shirkah (Al)
- A contract between two or more persons who launch a
business or financial enterprise to make profits.
Shirkah Al Abdaan
- Partnership between two or more persons in skill, mental
or physical labour only (without capital). They accept
workjointly, perform it according to their agreement and
share the profit. This is also known as shirkah al-sana:::a.
Shirkah Al Amal
- An alternate term for shirkah al-abdan.
Shirkah Al Amwaal
- shape of money and all the partners contribute their
labour and skill, agreeing to share the profit.
Shirkah Al Aqd
- Contractual partnership. Tech: Two or more persons may
continue to carry on business on the condition that the
capital and the profit will be shared among them. This is
distinguished from shirkah al-mulk, which is partnership in
joint property.
Shirkah Al Dhimam
- An association in which the communality consists of each
partner sharing in the obligations incurred by his
colleagues. This is a type of partnership in which partners
do not invest any capital but instead authorize each other
to buy on credit on the condition that each will be
responsible for half the cost of the other`s purchases and
share in a like manner in the profit of their resale.
Shirkah Al Inaan
- A partnership agreement in which the partners may have
equal equity but unequal rights to profit, unequal equity
with equal rights to profit or with unequal equity and
unequal rights to profit.
Shirkah Al Jabr
- Partnership by compulsion exists if a purchaser purchases
goods in the presence of a person who is a bonafide dealer
in the particular commodity and the dealer has reason to
believe that the goods are being purchased for him as usual.
The bonafide dealer will be treated as a partner of the
purchaser provided that the purchaser does not declare in
anticipation to have purchased the goods for himself.
Shirkah Al Mafaaliis
- Partnership of the penniless. Tech: It comes about when
two or more people form a partnership without any capital to
buy merchandise on credit and then sell it. Also known as
shirkah al-wujuh.
Shirkah Al Milk
- Proprietary partnership. Tech: A proprietary partnership
occurs when two persons inherit or purchase something
together. Neither of them is permitted to dispose off the
other:::s portion except with the other`s permission. Each
of them is considered a stranger in regard to the other`s
portion.
Shirkah Al Mufawadah
- A contract of partnership in which all the partners are
equal in respect of equity, and the right to conduct
business for cash or credit. All of them are mutual agents
and mutual sureties for one another.
Shirkah Al Sanaaa
- See shirkah al-abdan.
Shirkah Al Tadamun
- A contract of partnership among two or more partners who
share the liabilities of the business created by anyone of
them.
Shirkah Al Takafol Al
Islamiyya Bahrain (STI/Bahrain)
- A subsidiary of DMI. Main objective is to conduct Islamic
insurance business. Started operations in late 1984. Paid-up
capital, US$10 million.
Shirkah Al Taqbiil
- The condition that they would accept orders from customers
concerning their trade and skill jointly and share income
from the trade. It is also known as shirkah al-taqabbul.
Shirkah Al Tausiiyah Al
Baasitah
- A partnership agreement in which one partner assumes
unlimited liability of the business debt while the other
partner remains liable to the extent of his own capital.
Shirkah Al Wujuuh
- Partnership between two or more persons carrying on
business on credit only (without investment of capital).
They purchase goods on credit on the basis of their goodwill
and then sell them and try to make profit.
Shirkah Bila Maal
- An alternate term for shirkah al-abdan.
Shirkahfil Aml Bi Aidiihima
- An alternate term for shirkah al-abdaan.
Shufah (Al)
- Right of pre-emption. Tech: Acquiring a vendor`s property
at the price for which the vendor has sold it. The right of
preemption is a power of possessing property which is for
sale. It applies only to immovable property. It appertains
in the first place to the co-sharer or partner in the
property; secondly, to a sharer in the immunities and
appendages of the property such as the right to water or to
road; thirdly, to the neighbors.
Shuhh (Al)
- Stinginess, avarice. Tech: Petty-mindedness in
interpersonal relationships. Shuhh leads one to selfishness,
callousness and to disproportionate love for wealth.
Shukr (Al)
- Gratitude. Tech: A value of the Muslim society by virtue
of which an individual acknowledges the bounties of Allah
and expresses gratitude by tongue and actions, which are
those actions one has been enjoined to carry out through
obedience to Allah. It includes putting physical resources
and faculties to their proper use. Their improper use
contradicts shukr and is termed kufr.
Siar Al Maruuf (Al)
- See thaman al-mithl.
SIC
- See Specific Investment Certificates.
SID
- See Specific Investment Deposits.
Sikkah (Al)
- Originally it meant a `minting die` to test the fineness
and weight of the coin. The same word subsequently came to
be used for the mint as an office providing for and checking
these marks.
Silah (Al)
- Commodity.
Simsar (Al)
- Middleman. Tech: One who sells on behalf of others.
Specific Investment
Certificates (SIC)
- A proposed instrument of riba-free banking, the
certificates offered by commercial banks to savers. These
certificates would carry the name of an enterprise in which
the value of the certificate would be invested. They would
be exactly like stocks held by a member bank for a
particular customer. The advantages include: use of bank`s
expertise and its block-vote as a representative of more
than one stock holder.
Specific Investment Deposits
(SID)
- Proposed financial instrument of riba-free economy.
Indicates deposits with commercial banks with specific
purposes and defined maturities.
Specific Mudaarabah
- A mudarabah contract with one specific purpose or
objective.
Statistical Economic and
Social Research and Training Centre For Islamic Countries
(SESRICIC)
- Founded in 1978 and based at Ankara, the centre, in
cooperation with the IDB, Jeddah, and the Turkish Institute
for Statistics is supposed to expand into a data bank in
which all data relevant to economic policy in the Islamic
world are available. The centre performs policy oriented
studies for experts and ministerial meetings of which a
number have appeared in the Journal for Economic
Co-operation among Islamic Countries, published by the
centre since 1979.
Suaat (Al)
- Zakat-collectors, especially on animals and on
agricultural property.
Swaaim (Al)
- Pasturing animals. Tech: Those animals which are bred and
pastured that they may grow. It excludes animals kept for
riding, for work or for carrying of loads.
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