Basel Committee on Banking Supervision (BCBS) An institution created by the central bank governors of the Group of Ten nations. The BCBS was created in 1974 and meets four times a year.
basis point A unit of measurement of changes in interest rates, or the differences between them. It is simply a finer and more precise measurement than the percentage, defined as 1 per cent of 1% (one ten-thousandth of the whole), so, for example, a 75 basis point rise in an interest rate means a rise by 0.75%, and a 6 basis points drop is the same as a 0.06%. reduction. Because it is abbreviated to BP, the basis point is often referred to as a ‘bip’.
Ba??rah Insight, discernment, perceptivity, deep knowledge. Sometimes used by Sufis to denote the ability to directly perceive a transcendental Truth.
batil Null and void, invalid (the opposite of saheeh). Batil can describe a transaction, a contract or an element in a contract.
batin In Islam, batin refers to the hidden or interior meaning of the Qur’an and the world of angels and jinns which are hidden from view, but in more general terms the word can refer to the inner meaning or reality behind everything that is not hidden. The opposite of batin is the Zahir, which is the interpretation of the Qur’an by humans.
B.B.H.N. Blessed be His Name – acronym for S.A.W.S. See P.B.U.H (Peace Be Upon Him).
Bidah Innovation in religion, i.e. inventing new methods of worship. Bad Bidahs in Islam are considered a deviation and a serious sin by many Muslims.
Bid?ah sayyi?ah Inquiry prohibited in Islam.
Bismi-ll?hi r-ra?m?ni r-rah?mi “In the name of Allah, the Most Gracious, the Most Merciful
In general terms, it means a “cloak” or “outer garment”. Specific reference is to the “burda” of Mu?ammad (see Qa??da al-Burda).
bay A nobleman or rich man.