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Istisnaa Sukuk

Certificates of equal value (sukuk) that are issued for the purpose of mobilizing funds to be used in the production…

    Penalty Clause

    A clause in a commutative contract (aqd mu’awadhah) that stipulates that an agreed amount of money shall be paid to…

      Penalty Clause in Istisna’a

      It is permissible by shari'a to include in an istisna'a contract a stipulation of a fair penalty clause in the...