rabb to guarantee against default. Should the

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rabb al-mal, rabb-ul-maal, rab-al-maal The investor in a mudharabah contract.

rabb-ul-maal (alt. sp. rabb al-mal).

Rabi’il al-Akhira The fourth month of the Islamic calendar.

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Rabi’il al-Awal, Rabi-al-Awwal The third month of the Islamic calendar.

radiallahu-anha ‘May Allah be pleased with her’, an honorific phrase similar to ‘Sallallahu Alayhi Wasallam’ but said or written after a revered female, for example Fatimah or Khadijah bint Khuwaylid. Sometimes shortened to R.A.

rahn al, al- A contract whereby an item of value as collateral is placed with a lender to guarantee against default. Should the borrower fail to repay any or all of the debt, the collateral is forfeited.

Rajab The seventh month of the Islamic calendar.

rak’ah, raka’ah The actions that must be carried out during and leading up to salah (prayer), for example turning to God, ritual ablutions, Qur’anic recitals, bowing, prostrating and sitting, all at the appropriate times.

rak’at A single instance of an act during the salah (prayer) ritual. Some acts have multiple rak’at specified at different times of the day.

Ramadan The ninth month of the Islamic calendar, the month of fasting. Ramadan, as well as simply being the name of the month, is widely known as the month when fasting must take place  during daylight hours, culminating in Eid al-Fitr at the end of the month.

ra’s al-mal Capital that an investor puts forward towards a venture in the hope of making a profit.

rasool A messenger or prophet.

Rasulullah The Messenger of Allah (the Prophet Muhammad).

rate of interest (see interest rate).

ratl A unit of weight for foodstuffs.

ready money Cash that can be used to make a purchase or invested straight away, as opposed to money tied up in investments, debts owed, or money that is in the process of being deposited. Sometimes called ready cash or, much more informally, ‘readies’.

real estate Land and any buildings upon it and beneath its surface. Real estate is notable as one of the few assets that does not generally depreciate in value without the pressure of unusual external factors.

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