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Istisna‘ Financing Of Infrastructure Projects

Author

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  • ZARQA, MUHAMMAD ANAS

    (King Abdulaziz University, Jeddah, Kingdom of Saudi Arabia)

Abstract

Projects that do not generate explicit income cannot be possibly financed on a profit-sharing basis. A suitable interest-free alternative method of financing is presented here, based on istisna‘ sale contract (commissioned or pre-ordered productio). Various aspects of using istisna‘ as a financing tool for infrastructural projects are discussed, including: (a) the illiquidity of the resulting financial claims and its implications, (b) suitability for financial intermediaries, and (c) the possibility of indexation of the resulting financial claims and their use as a monetary policy tool.

Suggested Citation

  • Zarqa, Muhammad Anas, 1997. "Istisna‘ Financing Of Infrastructure Projects," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 4, pages 67-74.
    • Handle: RePEc:ris:isecst:0140
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    Keywords

    ISTISNA; FINANCING;

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