Khiyar

Literally: khiyar (option) is the noun derived from ikhtiyar (the act of choosing); in this case, choosing whether to conclude the sale contract or cancel it. Technically: the right of either party to conclude the contract or to cancel it due to a legitimate justification or a contractual agreement. For further details see ISRA Compendium.


Are Currency Option Contracts Legal?
When a Government Agency Hires a Contractor to Build Housing for Citizens, Is It Lawful for the Citizens to Request Changes to the Basic Plan if They Agree to Pay for Them?
Can Two Banks Agree to Allow Each Other Overdraft Privileges as Interest-Free Loans?
Discount For Early Payment
A Shari‘ah-Compliant Alternative to an Option Contract
Is It Permissible to Sell a Good Calculated to Be of a Certain Amount on the Condition That If There Is Any Shortfall Then It Will Be Deducted from the Agreed Price?
What Is the Rule Regarding When the Buyer Does Not Accept Any Defect Upon Delivery?
Is It Permissible for the Buyer in Murabahah to Agree with the Original Seller to Return the Goods If All of Some Were Not Sold?
How Does Resale Affect the Buyer’s Option to Annul the Original Sale?
Damage to or Loss of the Purchased Good
Shortfall in a Good Sold by a Calculation of the Amount
The Bank Uses the Purchase Undertaker’s Import License to Purchase a Foreign Good
The Buyer Discovers a Defect in the Goods
The Murabahah Purchaser Returns Goods to the Original Seller
The Purchase Undertaker Wants to Return Unsold Goods to the Original Seller
Ensuring Proper Separation Of Contracts
Purchase Option Such That the Seller Will Only Acquire Possession of the Good if the Buyer Exercises the Option
Signing a Contract to Sell Something to the Government before Owning the Product
Stipulating an Option to Annul a Sale after the Buyer Has Accepted the Original Offer
Signing a Contract to Sell Something to the Government before Owning the Product
Stipulating an Option to Annul a Sale after the Buyer Has Accepted the Original Offer
Can a Retailer Return Unsold Goods to the Wholesaler and Get a Full Refund?
Can the Islamic Bank Buy Goods from the Retailer and Make It Its Agent to Resell Them to Customers but Stipulate That the Retailer Buy Back Unpurchased Goods?
Can the Buyer Reserve the Right to Annul a Delayed-Delivery Sale Six Months after the Purchase?
Who Bears Liability for Goods Returned Due to Defects?
Is It Allowed to Stipulate an Option to Either Buy Leased Property at the End of the Lease Period or Renew the Lease?
Is It Allowed to Enter a Lease Contract That Ends with the Purchase of the Leased Property?
What is the Ruling on a Lease Agreement That Culminates in Ownership?
Is It Allowed To Lease to the Seller through a Separate Contract from the Sale Contract?
What Is the Ruling of Investment Fund for Ijarah?
Is it Allowed to lease a Building with the Option to Purchase the Building at a Pre-Agreed Price?
Is Allowed in BBA that the Sale Price Shall be Determined at the Time of Transferring any Part of The Land’s Ownership?
What Is the Shariah Ruling if the option of Annul Is Stipulated only for one Parte?
What is the ruling on khiyar al-shart (annulment option) for the buyer that is implemented in a number of Islamic financial institutions?
What is the ruling on participation in purchasing real estate ownership sukuk in Malaysia?
Is it Permissible to Purchase a Land’s Usufruct Together with the Constructed Facilities from a Company that Promises to Lease the Constructed Facilities from KFH?
Is it allowed to make a pre-agreement to execute a sale based on an endorsement of the bill of lading that transfers the ownership and without inspection of the goods described in the bill?
Is it allowed to make a pre-agreement to execute a sale based on an endorsement of the bill of lading that transfers the ownership and without inspection of the goods described in the bill?
Is it Allowed for the Bank to Purchase Machinery in Order to be Leased Out for a Specified Period in Exchange for an Annual Rent Agreed Upon Between the Bank and Lessee?
the Agreement of Sending Back, Replacement and Liquidation of Goods

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