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 ?

The Sukuk was structured as Istisnah for pre-construction and Ijara for post-construction of the project.

The Sukuk industry wants a piece of the world's most profitable company

Examples of modes for financing are Sukuk, Ijarah, instalment sale, Istisnah and equity.

UNLOCKING ISLAMIC FINANCE FOR INFRASTRUCTURE

Examples of modes for financing include, Sukuk, Ijarah, instalment sale, Istisnah and equity.

UNLOCKING THE VALUE FOR INFRASTRUCTURE

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

Other sales models such as Salarci and Istisnah (e.g., Usmani, 2002) create service structures in which collaboration between bank and customer vary and thus make them enable to evolve into different service requirements (Ullah, 2014).

Collaborative Islamic Banking Service: The Case of Ijarah

Examples of modes for financing are Sukuk, Ijarah, installment sale, Istisnah and equity.

Unlocking Islamic finance's value for infrastructure

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

Islamic investing

Launch media campaigns to introduce Islamic finance products such as Sukuk, Murabahah, Istisnah' contracts and others

The Sukuk and economic development for the Silk Road

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