Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Ordinary Course of Business
A usual activity that is normal to the day to day operations of the business. Occasional or infrequent activities do not constitute an ordinary course of business.
Public Works Exempted from Competitions
Public procurement projects exempt from competitive bidding processes.
Freelance Economics
A labor market based on short-term contracts and freelance work instead of permanent jobs.
Shadow Economy
All economic activities and transactions, whether legal or illegal, that are not recorded in the official accounts or regulations of the state, and whose transactions are subject to taxation if reported.
Developing Economies
Countries facing challenges in economic growth, relying mostly on agriculture and natural resources, and dealing with issues in infrastructure, education, and healthcare.
Tax Return
The information and data specified for tax purposes and submitted by a taxable person or a person authorized to act on his behalf for each tax period in accordance with the form prescribed by the Zakat, Tax and Customs Authority.
Behavioral Economics
A field of economics that studies how psychological and emotional factors influence economic decisions.
Supply-Side Economics
An economic theory emphasizing production, investment, and tax cuts to stimulate growth.
Peer-to-Peer Lending
A decentralized financial system where individuals lend and borrow directly from each other.
Payment Mechanism
Contractual arrangements through which the Private Party is compensated in a Public-Private Partnership (PPP) project. This mechanism outlines the timing, amount, and conditions under which payments will be made.
Compliance
To meet all commitment requirements, either mandatory requirements such as: legislation, regulations or optional requirements such as: internal policies of the entity and standards of the sector.
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