Istisna'a

A manufacturing or construction contract where a buyer commissions the creation of an asset to be delivered at a future date. The price, specifications, and delivery timeline are agreed upon in advance. Unlike Salam, the payment in Istisna'a can be made in installments throughout the construction period rather than in full upfront.

Widely used in construction financing, project finance, and equipment manufacturing. It is one of the few Islamic contracts that permits the sale of something that does not yet exist, provided the specifications are clearly defined.