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Receivables

The amounts which are due from an Islamic bank’s clients as a result of sale transactions that are based on…

Commissioned Manufacture

Also istisna’a in Arabic. It is a special kind of the contract of sale (bai’) in which the underlying commodity…

Reverse Istisna’a

An istisna’a contract in which one counterparty (the seller or the buyer) is also a counterparty to a previous istisna’a…

Istisnaa Sukuk

Certificates of equal value (sukuk) that are issued for the purpose of mobilizing funds to be used in the production…

Order To Manufacture

Also istisna'a (استصناع) in Arabic transliteration. It is a special kind of the contract of sale (bai') in which the...

Penalty Clause in Istisna’a

It is permissible by shari'a to include in an istisna'a contract a stipulation of a fair penalty clause in the...

Percentage of Completion Method

With respect to istisna’a, it is a method which is used by Islamic banks and financial institutions to recognize istisna’a…

Istisna’a Tamwili

An istisna’a contract (استصناع) that combines two separate or stand-alone istisna’a contracts , the first of which is concluded between...

Sukuk al-Istisna’a

Certificates of equal value (sukuk) that are issued for the purpose of mobilizing funds to be used in the production...

Back-To-Back Istisna’a

An istisna'a contract in which one counterparty (the seller or the buyer) is also a counterparty to a previous istisna'a...