Module Introduction — The Architecture of Islamic Sales
8 min
How This Domain Connects to Shari'ah Fundamentals
Foundational Concept
How It Applies in This Domain
Gharar
Every sale contract must have a known subject matter, known price, and deliverable goods — or it's void for excessive gharar. Salam and Istisna'a are the controlled exceptions.
Combination of Contracts
Murabahah to the Purchase Orderer combines promise + agency + purchase + sale. Tawarruq combines credit sale + spot on-sale. Each combination must pass the four controls.
Promise/Wa'ad
The customer's promise to purchase in Murabahah is what makes the product commercially viable. The classical rules on the bindingness of unilateral and bilateral promises directly govern Murabahah procedures.
Profit Calculation
Murabahah profit must be a fixed amount or percentage of cost. Benchmarks may be used for price discovery but the final price must be fixed. Credit pricing above cash pricing is permissible but late payment increases are not.
Fatwa Ethics
The Shari'ah board must approve every product structure. Many controversies in trade-based financing (organized tawarruq, commodity Murabahah mechanics) require careful fatwa governance.
The Fundamental Rule of Islamic Sales
"You cannot sell what you do not own and possess." This single rule generates almost everything in this domain: Murabahah requires the bank to actually OWN the goods before reselling; Salam is a PERMITTED EXCEPTION (sell what doesn't yet exist, with strict conditions); Istisna'a is the SECOND PERMITTED EXCEPTION (manufacturing/construction contracts); Possession (Qabd) defines exactly WHEN ownership transfers; and Tawarruq tests the boundaries of genuine ownership.