The subject of sale must be recognized as property of value in commercial usage and must not be something whose use is confined to a prohibited purpose. A valid financing structure cannot make an unlawful subject matter lawful.
This rule is especially important in financing because cost-plus sale (مرابحة) is valid only when the financing remains a real sale. The sequence of ownership, possession, risk and final sale must therefore be visible in the transaction.
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Valid Sale, Deferred-Payment Sale (بيع مؤجل) and Cost-Plus Rules
The subject of sale must be recognized as property of value in commercial usage and must not be something whose use is confined to a prohibited purpose. A valid financing structure cannot make an unlawful subject matter lawful.
This rule is especially important in financing because cost-plus sale (مرابحة) is valid only when the financing remains a real sale. The sequence of ownership, possession, risk and final sale must therefore be visible in the transaction.