Glossary

Hire purchase under shirkatul melk (HPSM)

The Bangladeshi bank-documentation form of diminishing musharakah, in which the bank and client jointly purchase an asset and the bank's ownership diminishes as the client pays installments.

Source: Smart-Contract-Enabled Diminishing Musharakah in Bangladesh: A Doctrinal-Functional Analysis and Six-Layer Control Architecture (Academic research) · p.2

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