---
title: "What is Value date? | IslamicOpenFinance™"
description: "The date on which a payment or transfer is due to take effect and funds become available to the receiver."
url: https://islamicopenfinance.com/glossary/value-date/
lang: en-GB
source: "IslamicOpenFinance"
---

[Glossary](https://islamicopenfinance.com/glossary/) / [Calendar, settlement and markets](https://islamicopenfinance.com/glossary/#calendar)

Calendar, settlement and markets

# Value date

The date on which a payment or transfer is due to take effect and funds become available to the receiver.

The value date is the day on which a payment or settlement is intended to take effect, when funds or assets become available to the recipient. IFSB-26, following the international principles for financial market infrastructures, expects final settlement no later than the end of the value date. Value dates must fall on business days in the relevant market, so holiday calendars determine how they roll.

## Sources

- [IFSB-26 Core Principles for Islamic Finance Regulation (Financial Market Infrastructures), 2021: Principle 8, Settlement finality](https://www.ifsb.org/wp-content/uploads/2023/10/IFSB-26_En.pdf)

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

[**Settlement finality** The point at which a transfer becomes irrevocable and unconditional, so it cannot be unwound even if a participant fails.](https://islamicopenfinance.com/glossary/settlement-finality/) [**Business day** A day on which banks, markets or payment systems in a given place are open; the unit for due dates and settlement.](https://islamicopenfinance.com/glossary/business-day/) [**T+n settlement** Settlement a set number of business days after the trade date: T+1 means one business day later, T+2 two business days later.](https://islamicopenfinance.com/glossary/t-plus-n/)

**Calendar, settlement and markets**

1. [Hijri calendar](https://islamicopenfinance.com/glossary/hijri-calendar/)
2. [Lunar month](https://islamicopenfinance.com/glossary/lunar-month/)
3. [Hawl](https://islamicopenfinance.com/glossary/hawl/)
4. [Moon sighting](https://islamicopenfinance.com/glossary/moon-sighting/)
5. [Business day](https://islamicopenfinance.com/glossary/business-day/)
6. [Settlement finality](https://islamicopenfinance.com/glossary/settlement-finality/)
7. [T+n settlement](https://islamicopenfinance.com/glossary/t-plus-n/)
8. [Delivery versus payment](https://islamicopenfinance.com/glossary/delivery-versus-payment/)

[All 221 terms](https://islamicopenfinance.com/glossary/)