Al Istisna Essay

1-INTRODUCTION

1.1 ISTISNA

Al istisna is a principle in Islamic banking activities and also the one of muamalah in Islam which is the uses is now given a new breath after the existing of a few contracts that are already existed such as sales of share, murabaha, and many more. Nowadays, the contracts can’t anymore to cope the swiftly growth and also the request of funding from the customers like “mushroom growing after rain”. Sales in istisna also means the booking of some goods such as the booking of shirt, house, and a bed and so on. This sales contract principle was adopted since the time of Prophet Muhammad and his companion (the sohabah) until now, but many still not really concern about the existence of this principle. So, no wonder, nowadays there are many people still confused about this principle.

In this study, I will describe the concept of al-istisna by Islamic law as well as I will compare istisna in Islamic fiqh muamalat with conventional system which is practiced by banks nowadays. As we know, that the conventional banking system was produced a lot of economic products same as istisna concept. So, in this study, I will disclosure and explain all perspectives that is associated with al-istisna sales, and in the last point, I’ll give the best recommendation as the solutions to the risk that is involved in istisna.

Al-istisna from the point of language that is agreed by scholars (ulamak) means the request of make or book something, or in other words, make something based on someone’s request. In technically, the scholars had different views about it. Therefore, some of them give the definition of istisna based on technically, and others are not.

Al-Hanafi defined that istisna in technically as contract on goods orde...

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...no . This is evident in the verses of the Quran and the Sunnah of the Messenger of Allah laden with recommended people use their intellect to succeed in a world full of uncertainties .

In Surah Yusuf , for example , we are told about how the Prophet Yusuf interpret dreams King of Egypt, the Egyptians will face seven -year drought after seven years filled with prosperity . Based on that interpretation , Joseph Kerajinan then propose a plan to meet the critical time . The plan is to grow the food the people of Egypt during the seven years of prosperity and keep most of it. This is so they will be ready when drought struck for the next seven years.

From the evidence described, we come to your senses now that Islam does not reject the concept of risk management, but also encouraged to ensure the continuity of human existence as God's vicegerent on earth this lovely.