annual report A comprehensive report sent to all a company’s stockholders detailing its business activities, financial information and investments in the year since the last report. It will also give details about the personnel sitting on the board and can include personal statements from the chairman, departmental heads or anyone else whose activities are of strategic importance to the company. There is usually material such as a mission statement and plans for the coming years.
annuitant The purchasing party in an annuity contract.
annuity, life annuity An interest-bearing, tax-deferred financial contract bought by an annuitant from mutual fund companies, insurance providers, banks, stockbrokers and other financial organisations. An annuity has elements in common with a pension and an insurance product. The annuity fund is paid into by the purchaser either as a lump sum or in installments (accumulation) and at an agreed date the insurer starts to pay back an amount as per the contract (distribution). Should the annuitant die early, the company benefits; should the annuitant have a long life, the company will be obliged to go on making payments until death, even if this exceeds the amount paid into the fund. Contracts can be drawn up, however, that include the lifespan of spouses as well as the principal annuitant. The annuity provider is therefore effectively a mutual insurance provider (see also immediate annuity; deferred annuity).
ansar Helpers; residents of Medina who assisted the Prophet Muhammad and his followers when he arrived there.
APIF Awqaf Properties Investment Fund.
appreciation The increase in the value of an asset. Appreciation is the opposite of depreciation.
APR Common abbreviation for annual percentage rate.
‘aqar Immovable real estate such as buildings and land, but also trees.
‘aqd Arabic for a contract or a legal transaction.
‘aqd saheeh A legal contract.
Aqeeda ( Aqidah) Literally, belief or faith In Islam there are six articles of faith: (i) belief in Allah; (ii) belief in Allah’s angels (Mala’ika); (iii) belief in the revealed books (Quran) ; (iv) belief in the rusul (messengers; prophets); (v) belief in the Day of Judgment (qiyamah); and (vi) belief in fate (qadar) as determined by Allah.
Aql Intelligence, intellect, mind, understanding
aqeemah A woman who is not able to have children.
aqeeqah The hair shaven from the head of a newborn baby at the offering of a sacrificial animal.