Iqalah

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?
Iqalah
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?
Is it Allowed to Contract on a Commodity with a Customer that is Binding to Another Party?
Is it allowed to charge a fee to the purchase undertaker if he cancels or continues the purchase?
Is it Allowed for KFH to Ask for Compensation for Terminating the Contract of Sale?
What is the criterion for cancelation of the initial agreement in the Murabahah transaction between the customer and the supplier or the car dealer?
What is the Fatwa Committee’s Opinion on the Enclosed Copy of an ijarah muntahiyah bi al-tamlik Agreement?
What is the Ruling on Obligating the Lessee to Purchase the Leased Property at the End of ijarah muntahiyah bi al-tamlik Agreement?
Is it Allowed to Purchase Real Estate Property that is leased through ijarah muntahiyah bi al-tamlik and then to Lease it Back to the Same Lessee?
Is it Allowed for the Lessee of the Real Estate to Purchase it from the Company According to an Agreement between them?
What is the Ruling on Leasing a Building to the Owner of the Building’s Land?
Is a Lessee Allowed to Claim the Remaining Period Rent, or is the Lessor Allowed to Keep this Rent if a Lessee Wants to Terminate the Lease Agreement before the End of the Agreed Lease Term?
Is It Allowed to Terminate the Contract of BBA That Began To Give Effects of Ownership to Enter in a New BBA with the Same Customer?
What’s the Fatwa Committee’s Opinion Regarding the Account of the Members’ organization, the Condition for Cancelling the Insurance and the Insurance Intermediaries’ Commission?
Termination of Ijarah Contract
Hibah in Takaful
Principle of Utmost Good Faith in Takaful
Restructuring and Rescheduling in Islamic Financing Agreement
Is it Allowed for the Bank to Purchase Goods on Cash Basis from a Mudarabah Investment in order to Sell the Goods on Murabahah Basis Providing that the Bank is the Capital Provider of the Mudarabah?
Is It Allowed for KFH to Enter into an Istisna’ Contract with a Customer Who Had Already Entered into a Contract with a Contractor Who Had Already Carried Out Some Simple Work?
Is It Allowed to Accept the Request of a Customer Who Offered to Give Up His Profits in Order to Withdraw His Investment Deposit Before the End of the Period?
Is It Allowed to Stipulate That Customers Requesting to Withdraw Their Short-Term Investment Deposit Before the End of the Period Must Renounce Their Right to Profits?
Is There Any Shari’ah Objection to Not Granting an Employee Whose Service Is Ended by Disciplinary Dismissal the Advantages Enjoyed by Employees Whose Service Is Ended Normally or by Resignation?
The Deals Contracted between the Client and the Exporter Prior to the Murabahah Contract
Subrogation of the Client by the Bank before the Settlement of the Debt
Eligibility of the Bank in Part of the Profit in the Event of the Cancellation of the Murabahah Transaction
Cancellation in Order to Enter into Executed Transactions on Murabahah Basis
مشاركة البنك أحد العملاء في عقد المشاركة بالأرباح إذ إن التمويل من جانب البنك وتصريف البضاعة من جانب العميل
Murabaha - Standard (10)

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