Literally: to remove and eliminate. In contracts, it means to revoke the contract. Technically: to terminate the contract and revoke its effects with the consent of both parties. Jurists disagreed whether iqalah is an annulment of the contract or a new contract. For further details see ISRA Compendium.

A Client Pays Full Rent at the beginning of the Month but Leaves in the middle
A Tenant Requests Early Termination of a Lease Agreement
Buying an Asset That Is Leased to a Third Party
Can a Fee Be Charged to Transfer a Lease Agreement from One Tenant to Another?
Can a Tenant Cancel a Lease Agreement before Using the Usufruct?
Can the Customer Ask the Bank to Take His Place in a Construction Contract?
Can a Broker’s Fee Be Recovered if a Sale is Terminated?
A Pre-Existing Contract Between the Original Seller and the Purchase Undertaker in Murabahah
Is It Allowed to Charge a Late Penalty on a Credit Card Holder if He Misses a Payment?
A Prospective Customer Has Already Made a Down Payment to the Supplier
Can Murabahah Occur if the Prospective Buyer Has Already Given the First Seller a Down Payment?
Charging a Fee for Annulling a Sale or Transferring Registration of Ownership
How to Terminate a Pre-Existing Contract in Order to Effect a Murabahah Sale?
Seller Free From Guaranteeing Any Defect?
The Buyer Discovers a Defect in the Goods
The Intermediate Seller Lacks Detailed Knowledge of the Imported Goods
السحب المبكر من وعاء المضاربة
Hibah In The Takaful Industry
Cancelling A Murabahah Contract
What Is to Be Done if the Supplier Is Unable to Deliver Some of the Sold Goods?
What Is to Be Done in Murabahah about Anomalies in Delivery of the Subject of the Sale?
The Buyer Discovers a Defect or Shortfall in the Purchased Good
Stipulating No Liability for Defects in a Sale
Stipulating an Option to Annul a Sale after the Buyer Has Accepted the Original Offer
Stipulating an Option to Annul a Sale after the Buyer Has Accepted the Original Offer
What is the Rule When an Unrestricted Investment Deposit Holder Wants to Withdraw His Deposit before the End of the Deposit Period?
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?
If a Customer Cancels the Sale of His Used Car to the Bank after the Title Has Been Transferred, and the Bank Allows It, Can the Bank Charge Him for the Inspection Expenses It Incurred?
Who Bears Liability for Goods Returned Due to Defects?
How to Deal With an Exchange Discrepancy in a Canceled Sale That Involved Different Currencies?
Is it Allowed to Stipulate a Penalty Clause against the Defaulting Lessee in a Lease Contract?
Is It Allowed To Agree To Omit or Add New Tasks in a Construction Contract?
Is it Islamically Lawful for an Employer to Decline to Transfer the Work Permit of an Employee Who Resigns to Take a Better Offer?
Can an Investor Withdraw from an Investment Project before Its Term?
Can a Condition of Investment Link the Right of Withdrawal to Relinquishment of any Share in the Profit or Loss?
How to Treat a Customer Who Withdraws his Deposit from an Unrestricted Investment Account before the Agreed Time?
Is It Allowed to Restrict the Right to Withdraw from an Investment Deposit Account?
What is the Ruling on Terminating an International Murabahah Deal before Its Term?
Revisiting the Ruling on Terminating an International Murabahah Deal before Its Term
What is the Ruling on Withdrawal of a Deposit Made in Foreign Currency from an Investment Account Before the End of the Deposit Period?
Issues in Foreign Currency Investment
Is it Permissible to Make an Advance Rental Payment at an Agreed-Upon Percentage In a Real Estate Lease Contract Ending with a Promise to Own the Real Estate?
Is it Impermissible to Separate the Money of Depositors from the Money of Shareholders?
Charging Fees on Services
What is the ruling on charging a nominal fee for withdrawing an investment deposit before the end of its period?

Islamic Financial System ©



I-FIKR Sponsors