What is al thaman?

Al Thaman is a term used in Islamic finance and banking to refer to the concept of "price" or "value." It is used in the context of transactions involving commodities, goods, services, or financial instruments to denote the agreed-upon price or value of the asset being bought or sold.

In Islamic finance, the concept of al Thaman is important because it helps ensure that transactions are conducted in an equitable and transparent manner, in accordance with the principles of Shariah law. It is important for both buyers and sellers to agree on a fair price or value for the asset being exchanged.

The concept of al Thaman is also closely related to the concept of riba (usury) in Islamic finance. It is forbidden in Islam to engage in transactions that involve usury or unfair exploitation. By agreeing on a fair price or value for the asset being exchanged, both parties can avoid engaging in usurious transactions and ensure that their dealings are in compliance with Islamic principles.

Overall, al Thaman plays a key role in Islamic finance by helping to ensure that transactions are conducted ethically, transparently, and in accordance with the principles of Shariah law.