As an artificial intelligence language model, I do not have personal experience, but I can provide you with an article on “wa`ad agreement”.

A wa`ad agreement is an Islamic finance term that is often used in the context of murabaha transactions. This type of transaction involves the sale of a commodity, with the payment being made at a later date. The wa`ad agreement is used to guarantee the payment of the purchase price.

In its simplest form, a wa`ad agreement is a promise or undertaking by one party to do something in the future. In the context of murabaha transactions, the buyer of a commodity promises to purchase the commodity at a later date, and the seller promises to deliver the commodity at that time. The wa`ad agreement is used to guarantee the performance of these obligations.

Wa`ad agreements are commonly used in Islamic finance as a substitute for conventional bank guarantees. This is because traditional bank guarantees involve the payment of interest, which is prohibited in Islamic finance. Wa`ad agreements, on the other hand, do not involve the payment of interest, making them permissible under Islamic law.

The use of wa`ad agreements has become increasingly popular in recent years, as Islamic finance has grown in popularity. This growth has been driven by a number of factors, including increased demand from Muslim consumers for financial products that are consistent with their religious beliefs, as well as a growing recognition by non-Muslims of the benefits of Islamic finance.

Overall, the wa`ad agreement is an important tool in Islamic finance, used to guarantee the performance of obligations in murabaha transactions. While it may be less well-known than other Islamic finance concepts, it is a critical component of this rapidly growing industry.