If a client owns land and needs construction finance, the financier may undertake through Istisna to deliver a completed house on that land. If the client has no land, the financier may undertake to provide a completed house on a specified plot.
Payment need not be fully advanced; it may be deferred or paid in installments according to agreement.
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Manufacturing/Construction Sale (استصناع): Financing Something Yet to Be Built
If a client owns land and needs construction finance, the financier may undertake through Istisna to deliver a completed house on that land. If the client has no land, the financier may undertake to provide a completed house on a specified plot.
Payment need not be fully advanced; it may be deferred or paid in installments according to agreement.