What Is a Municipal Bond Fund? A municipal bond fund is a fund that invests in municipal bonds. Municipal bond funds can be managed with varying objectives that are often based on location, credit quality, and duration. Municipal bonds are debt securities issued by a state, municipality, county, or special purpose district (such as a public school or airport) to
What Is a Mutual Investment Certificate? A mutual investment certificate, issued by a local authority, assesses tax on a community in order to fund a public works project that will benefit that community. Key Takeaways A mutual investment certificate, issued by a local authority, assesses tax on a community in order to fund a public
What Is a Municipal Investment Trust? Municipal investment trusts are a type of unit investment trust (UIT) that invests solely in municipal securities. Municipal investment trusts are designed for higher-income investors seeking tax-free income. Key Takeaways Municipal investment trusts are a type of unit investment trust (UIT) that invests solely in municipal securities.A unit investment trust
What Is a Municipal Note? A municipal note is debt issued by state and local governments to finance capital expenditures, such as construction projects. Municipal notes are appealing to investors because they mature in one year or less, offer fixed income, and are often exempt from income tax at the federal and/or state levels. Key
What Is Munifacts? Munifacts was a private newswire communication service for municipal bonds which provided information on new municipal bond issues in the primary market and secondary market. In 1996, it was renamed Thomson Municipal News, then later folded into The Municipal Market Monitor (TM3), a subscription service available from Refinitiv. Understanding Munifacts Though Munifacts no
What Is Murabaha? Murabaha, also referred to as cost-plus financing, is an Islamic financing structure in which the seller and buyer agree to the cost and markup of an asset. The markup takes place of interest, which is illegal in Islamic law. As such, murabaha is not an interest-bearing loan (qardh ribawi) but is an
Muriel Siebert was an American businesswoman and Wall Street broker. Regarded as the “first woman of finance,” Siebert was the first woman to purchase a seat on the New York Stock Exchange. Siebert founded Muriel Siebert & Company, a brokerage firm, in 1969. Muriel Siebert died on Aug. 24, 2013. Key Takeaways Muriel Siebert was
Murray N. Rothbard was an economist, author, and libertarian. He was a proponent of Austrian economics, founded the Center for Libertarian Studies in 1976, and co-founded the Mises Institute in 1982. Rothbard is the author of several books, including Man, Economy, and State. Murray N. Rothbard died on Jan. 7, 1995. Ket Takeaways • Murray
What Is Musawamah? Musawamah is a term used in Islamic finance. It describes a type of transaction in which the buyer does not know the price paid by the seller to create or obtain the good or service being offered. Under the rules of Islamic finance, various conditions must be met in order for Musawamah
What Is Musharakah? Musharakah is a joint enterprise or partnership structure in Islamic finance in which partners share in the profits and losses of an enterprise. Since Islamic law (Sharia) does not permit profiting from interest in lending, musharakah allows for the financier of a project or company to achieve a return in the form
