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• Ijara

  An Ijara contract refers to any lease agreement for a movable or immovable asset established between a credit institution or a decentralized financial system (SFD) and a client.

• Ijara Financement

  Ijara takes the form of Ijara Financing when, on one hand, the acquired asset is intended for professional use, and on the other hand, the client has the option to purchase all or part of the leased assets, either at the end of or before the contract term, based on an agreed price.

• Independent Director

  A director who has no relationship of any kind with the institution or its group that could impair their independence of judgment or place them in a situation of actual or potential conflict of interest.

• Inflation

  Inflation refers to a generalized and continuous increase in the level of prices. It is calculated based on the variations in the consumer price index.

• Integrated risk management

  A management approach that integrates the interrelation and interdependence between the risks to which the institution is or could be exposed

• Interbank market

  In the interbank market, the participants (buyers and sellers) are primarily banks, and the commodity traded is money. The central bank may intervene in this market.

• Internal Audit Charter

  A document that defines the positioning of the internal audit function within the institution and specifies its mission, powers, responsibilities, hierarchical reporting, as well as its operating procedures.

• Islamic finance

  All financial and commercial activities that comply with the principles of Islamic law and jurisprudence, commonly known as Sharia or Islamic law.

• Issuance of electronic money

  Issuance of electronic value units in exchange for received funds.