The basis of Islamic Banking is based on the premises of the existence of an underlying asset. The asset itself must have the following attributes:
Firstly, the asset must exist. Therefore, an asset which does not exist at the time of sale cannot be sold.
Secondly, the seller should have acquired the ownership of that [...]
Filed under: Bai Istisna, Bai Salam, Islamic Banking, Istisna | 2 Comments »
