Search Islamic Finance Answers

1,000+ scholar-approved answers and growing...

Existence Of Item Being Transacted
Is it a condition for a valid transaction that the item being transacted exist at the date of transaction?
The good or service in question must exist at the time of agreement, and its qualitative and quantitative attributes openly known. For those cases where the nature of the transaction itself makes this impossible, both parties should agree the amounts of all future exchanges of goods, services, and money; such as istisna, where the good remains to be manufactured; or mudarabah, where the service remains to be rendered; or ijarah; where the usufruct remains to be transferred.

ASK AN ISLAMIC FINANCE QUESTION

Each question is reviewed by an Islamic finance expert and approved by a scholar.

Ask Now »

SEARCH ISLAMIC FINANCE Q&As

Browse one of the world's largest database of Islamic finance Q&As available online.

View details »

What’s New at Ethica

Press releases, live events, book recommendations, discount offers, and more

View details »

sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter