Istisna

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Istisna

In Islamic law, a contract in which a buyer purchases an item for deferred delivery. The item must be described in detail and construction must fit the specifications. There is no set delivery date for the item. Usually, an istisna contract is made for specially made items. For example, one may make a contract to build a custom table for a client. Payment may be made in a lump sum or in installments.

References in periodicals archive ?

We have seen first-hand how simple Mudarabah and Istisnah financing structures can be used for Shari'ah-compliant solutions.

KEEP IT IN THE FAMILY

These include Mudharaba, Murabahah, Ijarah and Istisnah and Forward Lease.

Gauging market sentiment

Other sales models such as Salarci and Istisnah (e.

Collaborative Islamic Banking Service: The Case of Ijarah

In addition to the Ijarah structure, the Capital Markets Board (CMB) in 2013 introduced new permitted Sukuk structures, including Mudharaba, Murabahah, Musharakah and Istisnah.