Calendar, settlement and markets

Moon sighting

Observing the new crescent moon to determine the start of a Hijri month; it decides the dates of Ramadan and the Eid holidays.

Moon sighting, ruyat al-hilal, is the observation of the new crescent after sunset to determine the start of a Hijri month. Many countries announce the start of Ramadan, Shawwal and Dhu al-Hijjah only after an official sighting, while others rely on astronomical calculation or a combination of both. Because Eid holidays depend on these announcements, banks, exchanges and payment systems in those countries may confirm their holiday dates only shortly beforehand.

This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.

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