Definitions

1. noun

A property or asset held in the name of another person, often used for tax evasion or money laundering purposes.

“The government cracked down on benami transactions in the real estate sector.”

2. noun

A type of Islamic trust or charitable donation, in which a person donates property or assets to be managed for the benefit of others.

“The benami trust was established to provide education and healthcare to underprivileged communities.”