Classical Fiqh on Istishna' Sale and Its Application in the Sharia Property Industry
Keywords:
Classical Fiqh, Construction Financing, Islamic Economics, Istishna' Sale and Purchase, Sharia PropertyAbstract
This study examines classical Islamic jurisprudence (fiqh) on istisna' (contractual sale) and its application in the Islamic property industry. The istisna' contract is a form of commissioned sale in which the buyer requests the seller to construct goods or buildings with specific specifications and an agreed-upon completion time. In classical Islamic jurisprudence literature, this contract is permissible because it fulfills the principle of public interest and the need for halal production transactions. The purpose of this study is to examine the legal basis, characteristics, and relevance of the istisna' contract in the modern Islamic economic system, particularly in the Islamic property sector. This study uses a qualitative method with a library research approach sourced from classical Islamic jurisprudence books, fatwas of the National Sharia Council, and contemporary research. The results show that the istisna' contract has a strong legal basis based on analogy with the salam contract and the istihsan principle, and has developed into a financing instrument for construction projects that complies with Islamic principles. The application of this contract has proven effective in Islamic housing and infrastructure projects because it emphasizes fairness, transparency, and contractual responsibility. Thus, istisna' is real evidence of the adaptability of classical fiqh in responding to the needs of modern industry and plays an important role in strengthening a sustainable Islamic economy
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