Hamish jiddiyyah (security deposit)
A deposit paid by a customer to secure a promise to buy; it covers only actual loss if the promise is broken.
Hamish jiddiyyah is an amount paid by the purchase orderer to secure the promise to buy. Under the IFSB definition, if the customer does not buy, the seller may recover from it only the actual loss, meaning the shortfall when the asset is sold to someone else below its cost. If the sale goes ahead, the deposit is usually applied to the price or returned, and it is distinct from urbun, which becomes part of the price or is forfeited.
Sources
This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.
Related terms
Murabaha to the purchase ordererMurabaha in which the customer first asks the bank to buy an asset and promises to buy it from the bank once acquired.Urbun (earnest money)An earnest payment made at signing: part of the price if the sale completes, kept by the seller if the buyer withdraws.MurabahaA sale at cost plus an agreed, disclosed profit; the seller must own the asset first. Payment is often deferred in instalments.