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Islamic social finance can be defined as “the branch of Islamic finance where the products and services offered are designed to achieve social goals with or without profit”. There is a…

In summary, there are sale-based contracts and investment-based contracts in Islamic finance. The existence of minimum two parties, offer and acceptance, Shariah-compliant purpose, subject matter,…

Istisna is a contract whereby a seller sells an asset which is yet to be constructed, built or manufactured according to agreed specifications and delivered on an agreed specified future date at an…

Musharaka is a partnership between two or more parties, whereby all parties share the profit and bear the loss from the partnership. This video is licensed under the CC BY-NC-SA license.

Wakala is a contract where a party, as principal authorizes another party as his agent to perform a particular task on matters that may be delegated, with or without imposition of a fee. This video…

According to Shariah, a contract must have some pre-requisites. The first one is the existence of a minimum of two parties. Second, the offer and acceptance, namely the form of contract. The third…

Islamic banks and conventional banks have different characteristics. One of the distinguished elements is the relationship between the bank and the customer. In an Islamic bank, the relationship…

There are two types of contracts in Islamic banking and finance, which are sale-based (exchange-based) contracts and investment based (equity-based) contracts. Sale-based contracts include murabaha,…

BMT, Baitul Maal wat Tamwil, is an Islamic microfinance institution that originated in Indonesia. Its Baitul Maal unit runs the social function and manages the Islamic social funds such as zakat,…

Islamic finance is an alternative financing method with a particular value proposition defined by Islamic ethics, which provides substance, and Islamic law, which shapes the nature of its…

Many resource-rich countries negotiate complex contracts to govern mining, oil, or gas projects. Despite the critical importance of these contracts in determining the risks and benefits of these…

Zorigt Dashdorj introduces model contracts, a standard agreement a government presents to its counterparts. Model contracts can reduce the risks and challenges of negotiations by limiting the scope…

Herbert M’cleod describes the importance of carefully assembling the negotiation team, considering breadth of expertise and authority. Once a team is assembled, the team sets its positions,…

The pre-negotiation stage is a critical period for the success of negotiations. As Herbert M’cleod describes, government must prepare for negotiations by getting to know the asset, the company…

While each negotiation is different, the challenges they present for government negotiators are often similar. In this session, Solongoo Bayarsaikhan discusses internal and external challenges…

A successful contract depends on its implementation, monitoring and ability to survive in an ever-changing environment. Solongoo Bayarsaikhan looks at the work that comes after an agreement is signed…