Effects of Istisna Contract Legally and Illegally according to Islamic Banking View
DOI:
https://doi.org/10.24200/jsshr.vol4iss01pp29-32Abstract
Istisna contract includes customizing of manufacturing of anything with a fixed price made in accordance with agreed specifications. Istisna contract is as well as any other contract based on characteristics and nature of effects ranging from legal and non-legal services. Methodology: Istisna contract legally has three types of effects: Transfer of ownership of manufactured goods, commitment to product manufacturing, and a commitment to pay the price; an artefact waste products. Islamic banking, if there is a real intention partnership and direct investment transactions in which the Bank is carried out by banks are not handling money. Results: As a result of the actual banking transactions in Islamic banking, transaction, or obscured or unknown relationship between the bank and the client is invalid and this more than any other bank in Istisna contracts to be observed. Istisna run economic growth monetary and financial system is the optimal allocation of resources projects in non-banking facilities in specific cases and will not cost the national wealth to be driven by large projects. And thus have a greater economic efficiency. Conclusion: Istisna boost employment in the country's internal system because banks to implement projects and development projects, industrial, agricultural and requires a specific professionals in the field, and it requires banks to carry out these projects will benefit from this expertise.References
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