"All that we had borrowed up to 1985 was around $5 billion, and we have paid about $16 billion; yet we are still being told that we owe about $28 billion... If you ask me, what is the worst thing in the world? I will say it is compound interest." Former Nigerian President, Olusegun Obasanjo

Literally: from ribḥ: increase.

Technically: to sell a good for the price at which it was purchased along with a specified profit agreed upon by the two parties, either as a percentage of the price or a flat amount. It can occur without a previous promise, which is ordinary murābaḥah, or with a previous promise from the customer to buy the good from the institution, which is called ‘banking murābaḥah’. It is a lawful sale and is classified as a trust-based sale (because the client trusts the seller to disclose the true purchase price to which the profit is added).

Source: https://ifikr.my/main/view/glossary/4513

'Musharakah’ is a word of Arabic origin which literally means sharing. In the context of business and trade it means a joint enterprise in which all the partners share the profit or loss of the joint venture. It is an ideal alternative for the interest-based financing with far reaching effects on both production and distribution. In the modern capitalist economy, interest is the sole instrument indiscriminately used in financing of every type. Since Islam has prohibited interest, this instrument cannot be used for providing funds of any kind. Therefore, musharakah can play a vital role in an economy based on Islamic principles. 

Source: An Introduction to Islamic finance

Technically: a type of partnership in which one of the partners pledges to gradually buy the share of the other partner until the buyer completely owns the property or project. It is a contemporary financial transaction invented by Islamic banks as a way to invest their wealth. It basically consists of two contracts: (1) an initial contract of partnership; and (2) a sale contract. It is permissible on the condition that sale and purchase are not conditions of the partnership contract; rather the client pledges to purchase by a separate promise. The purchase and sale should be executed by a separate contract, and neither contract should be made a condition of the other.

Source: https://ifikr.my/main/view/glossary/4558

 Literally: Form III derivation of ḍaraba; one of its meanings is to travel across the earth.

Technically: a type of partnership for profit in which one partner (the rabb al-māl ) provides capital and the other partner (the muḍārib ) contributes his labour. The profit will be shared between them according to the terms they agree to. Muḍārabah is the term used by the Ḥanafīs and Ḥanbalīs. The Mālikīs and Shāfiʿīs use the term qirāḍ instead. Jurists agree upon the legality and permissibility of muḍārabah . It is of two types: restricted and unrestricted.

Source: https://ifikr.my/main/view/glossary/4999

 Literally: the reward given for service rendered.

Technically: a contract for transferring the ownership of usufruct for compensation. Some said: sale of a known usufruct for a known compensation. Thus, the lease contract is classified as a financial exchange contract.

Scholars agree that leasing is a lawful contract. The majority of jurists rule that a lease is a binding contract, and they stipulated as a condition for its validity that the usufruct and the compensation must be known. With regard to the time that lease contracts become effective, they are classified into three categories: (1) immediately effective leases; (2) leases effective from a future date; and (3) leases made contingent upon a future event.

Source: https://ifikr.my/main/view/glossary/4345

 Literally: a request to have something manufactured.

Technically: requesting a manufacturer to make a particular good to particular specifications. The manufacturer is called the ṣāniʿ, the buyer the mustasniʿ, and the item ordered is the maṣnūʿ. Such a contract is lawful. It is an exception to the general prohibition of contracting for a non-existent item, the reason being that there is a widespread need for it. Scholars are unanimous about its legality. In order for a manufacturing contract to be valid, the type, variety and specifications of the product should be thoroughly described, and the time of delivery should be specified. There are, however, scholarly differences about details regarding the delivery time.

Source: https://ifikr.my/main/view/glossary/4575

1. Islamic Financial System: Principles and Operations
2. An Introduction to Islamic Finance
3. Introducing Islamic Banking by Dr. Yousuf Azim Siddiqi 
4. Islamic Legal Maxims & Their Application in Islamic Finance 
5. Islamic Capital Markets - Principles & Practices
6. Your Brief Guide to Islamic Finance