Istisna (also said in German)

In Islamic banking, a contract under which one party agrees to pre-finance and construct an asset (which can be used in the long term); the necessary materials are supplied by the pre-financier (an agreement under which one of the parties (Moustasni’i) requests the other party (Snai’i) to manufacture or build an asset which is paid for in advance, in instalments or on completion). The client pays on completion, usually in cash – see ijara, mudaraba, murabaha, musharaka, salam, sukuk.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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