Istisna' Contract (A Comparative Jurisprudential Study)

Abstract

This research addresses the topic of the Istisna' contract, considered one of the most important contracts in Islamic jurisprudence due to its wide-ranging practical applications, particularly in the fields of industry and contracting. It aims to establish the jurisprudential foundations of this contract through an in-depth study of the opinions of scholars from the four schools of Islamic jurisprudence, clarifying its pillars, conditions, rulings, objectives, and effects.

The research focuses on a comparative analysis of scholarly opinions, examining the jurisprudential evidence and discussing points of disagreement on several fundamental issues, most notably: the binding nature of the contract, the possibility of its termination, and the impact of changes in specifications on its validity.

The research also explores contemporary applications of the Istisna' contract, especially in the Islamic finance sector, where it is considered one of the complex contracts adopted by Islamic banks in their financing operations to stimulate industrial and developmental activity. The study demonstrates the contract's ability to adapt to modern economic changes, provided its Sharia-compliant principles are adhered to. The research concluded that the Istisna' contract is legitimate according to Sharia, and is based on need and custom. It is distinguished by its flexibility and comprehensiveness compared to other contracts; it is an independent contract, not a subordinate one, according to the most likely opinion, and there is a need for it in our time in many applications that achieve people's interests.