The Three Pillars of Domain G
| Pillar | Standards | Purpose | Maqasid Focus |
|---|---|---|---|
| Khiyarat (Options) | the Trust-Based Options standard, 51, 52, 54 | Buyer protections and contract flexibility | Justice, informed consent, prevention of exploitation |
| Contingent Transactions | the Contingent Incidents standard, 58 | Handling unforeseen events and reversibility | Certainty, ease of transaction, preservation of rights |
| Islamic Social Finance | the Zakah standard, 60 | Wealth redistribution and community endowment | Wealth preservation, social solidarity, community welfare |
The Architecture of Options (Khiyarat)
In Islamic contract law, Khiyarat (الخيارات) are conditional rights allowing parties to continue or revoke a contract under specified conditions. These are NOT mere exit clauses — they embody the Quranic principle of informed consent ("There is no sin upon you if you make a mistake, but [there is] upon what your hearts intentionally seek," Q 33:5). The four major options are:
| Option Type | Standard | Trigger | Holder | Duration |
|---|---|---|---|---|
| Khiyar al-Taghrir (Verbal Deception) | the Trust-Based Options standard | Seller falsely describes goods | Buyer | Customary period |
| Khiyar al-Ayb (Defect) | the Revocation Options standard | Hidden defect discovered | Buyer | After delivery + customary period |
| Khiyar al-Tarawwi (Cooling-Off) | the Cooling-Off Options standard | Parties need time to reconsider | One or both parties | Stipulated period |
| Khiyar al-Ishlah (Revocation) | the Contract Revocation standard | Cooling-off option exercised | Option holder | Upon revocation notice |
Key Terms You Must Know
Khiyar (الخيار): An option; a conditional right to continue or revoke a contract. Taghrir (تغرير): Deception; misleading the buyer into thinking the goods are better than they actually are. Tadlis (تدليس): Deceptive conduct; physical misrepresentation (e.g., painting an old car to look new). Ghabn (غبن): Price gouging; charging a trusting buyer far above market price. Arsh (أرش): Compensation for defect; a price rebate when goods are defective. Waqf (وقف): Endowment; permanently dedicating assets for charitable/social purposes. Zakah (زكاة): Obligatory alms; wealth purification through redistribution to the poor. Repurchase (إعادة الشراء): Buyback agreement; a contract allowing the seller to repurchase goods.