Alms
This form of obligatory Islamic almsgiving is calculated on specific categories of wealth — such as gold, silver, and livestock — once they reach a minimum threshold and have been held for a full year.
What is Zakat?
This Sharia-compliant alternative to a conventional bond represents partial ownership in a tangible underlying asset or project, generating returns from profit-sharing or rental income rather than interest.
What is a Sukuk (Islamic bond)?
This is the account within CPF primarily used for housing, insurance, investment, and education.
What is the Ordinary Account (OA)?
This hybrid housing type starts out as public housing with eligibility conditions similar to HDB flats, but is built by private developers and eventually becomes fully privatized, open to any buyer after a set number of years.
What is an Executive Condominium (EC)?
This is the official currency of Japan.
What is the Yen?
Khums revenue is split into two equal shares. One goes to poor and eligible Sayyid descendants of the Prophet (s). Name the other share, which supports the religious authority and seminary institutions
What is Sahm al-Imam (the Imam's share/portion)?
In this contract, only the capital-providing partner bears financial loss (barring misconduct or negligence) — the managing partner's only "loss" if the venture fails is their unpaid time and effort.
What is Mudarabah (a profit-sharing partnership)?
This CPF account is dedicated to healthcare expenses and approved medical insurance.
What is Medisave?
This term describes new HDB flats sold directly by HDB, typically built to order and requiring a multi-year wait before completion.
What is a BTO (Build-To-Order) flat?
This country's currency, is one of the most commonly used currencies in Southeast Asia by nominal transaction volume due to the country's large population.
What is Indonesia?
To qualify for the Sayyid's share of khums, a recipient must be poor, an orphan, or fall into this third eligible category
What is Ibn al-Sabil (the "wayfarer")?
Islamic banks commonly use this contract to finance cars and homes: the bank buys the asset first, then resells it to the customer at a transparently marked-up price, payable in installments, with no interest ever charged even on late payments.
What is Murabahah (a cost-plus sale)?
This CPF account is set up when a member turns 55, consolidating savings from the Ordinary and Special Accounts to provide a monthly retirement payout.
What is the Retirement Account (RA)?
This is the minimum period after collecting the keys to a subsidized HDB flat during which owners generally cannot sell the flat on the open market.
What is the Minimum Occupation Period (MOP)
This economic term describes a sustained, rapid increase in the general price level of goods and services, most dramatically seen in cases like Zimbabwe in the late 2000s.
What is hyperinflation?
According to mainstream Shia rulings, this category of received wealth — money or property given voluntarily, without any exchange, such as a wedding present from a relative
What is a gift (hibah)?
This contract requires all partners to contribute capital (and optionally labor), sharing profits by mutual agreement but sharing losses strictly in proportion to each partner's capital share.
What is Musharakah (a joint-venture partnership)?
This is the name of the CPF scheme that provides Singaporeans with a monthly payout for as long as they live, once they reach their payout eligibility age.
What is CPF LIFE?
Singaporeans purchasing a second (or subsequent) residential property must pay this additional tax on top of the standard stamp duty, calculated as a steep percentage of the purchase price and designed to cool demand for multiple properties.
What is Additional Buyer's Stamp Duty (ABSD)?
This is the name of the shared currency used by 20 of the 27 member states in the same continent.
What is the Euro?
Under mainstream Shia rulings, this type of asset — received passively rather than earned through labor or business — is generally exempt from khums, unlike salary or trade profit and similar to gifts.
What is inheritance?
Contracts involving this prohibited element are voided outright under Islamic law — classic textbook examples include selling fish still in the sea, unhatched eggs, or an unborn calf, due to the extreme unpredictability of what's being sold.
What is Gharar (excessive uncertainty)?
This is the term for the minimum amount a CPF member is required to set aside in their Retirement Account to receive lifelong monthly payouts.
What is the Full Retirement Sum (FRS)?
This CPF housing grant rewards buyers of a resale flat for choosing to live near — or together with — their parents or married children, encouraging multi-generational proximity.
What is the Proximity Housing Grant (PHG)?
This international body, headquartered in Washington D.C., provides emergency loans to countries facing balance-of-payments crises and monitors global financial stability.
What is the IMF (International Monetary Fund)?