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The Definition Of Haamish Jiddiah
What is Haamish Jiddiah?
The term Haamish refers to margin and Jiddiah refers to sincerity. Haamish Jiddiah is a security deposit taken before the execution of a contract. It is deposited by the purchaser to ensure that if he fails to keep his "promise to purchase," it compensates the financial institution for expenses incurred. Once the bank makes up for its loss, any remaining amount is returned to the client. If the financial institution experiences a loss that is greater than the amount of security deposited, the client is required to make up for the difference.

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