Istisna

Istisna definition - finance
In Islamic finance, a contract to manufacture goods, assemble or process them, or to build a house or other structure according to exact specifications and a fixed timeline. Payments are made as work on the property is finished. Istisna avoids making or receiving interest payments, which is forbidden by the Islamic religion.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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