Bai al-urban
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Definition of "Bai al-urban"
It is getting a thing against a nominal advance on the condition that if the bargain is struck, the advance will be adjusted and if the bargain is canceled, the seller will not return the advance. The advance being nominal, the buyer has practically no liability. He will abide by the contract if he finds it advantageous to him and will withdraw if it is otherwise. The modern day options contracts in the stock exchange are covered by bai al-‘urban.