Istisna’

Al Baraka Sudanese Bank provides financing in the form of Istisna’a (ordering to make) for everything that can be manufactured, as it signs an Istisna’a contract with the customer and a parallel Istisna’a contract with the manufacturer.

Sectors where Istisna'a applies

The Istisna’a contract is applied in many sectors (industrial sector / agricultural sector / real estate sector, etc.) and the Istisna’a contract is generally used in various industries as long as it can be set according to various standards and specifications.

Eligibility Requirements

Steps to Istisna’a financing

  • The customer submits to the bank a request expressing his desire to buy a commodity that the bank manufactures with specific specifications and at a specific price that agrees on the method of paying it immediately, deferred, or in instalments (the bank usually calculates in this price what it will actually pay in the parallel manufacturing contract, in addition to the profit it deems appropriate).
  • The bank studies the process, and determines the conditions and guarantees for approval, after ascertaining the economic feasibility.
  • The bank signs an Istisna’a contract with the customer, in which he undertakes to manufacture the specified commodity and deliver it within a specified period to be agreed upon (the bank takes into account that this term is similar to or longer than the period in which it will receive the commodity under the parallel Istisna’a contract).
  • The bank signs a parallel Istisna’a contract with the manufacturer expressing its desire to manufacture the thing it committed to in the first Istisna’a contract (ie with the same specifications) and agrees with the manufacturer (the contractor) on the appropriate price and term.
  • The bank receives the product and delivers it to the customer within the specified time and in conformity with the specifications.
  • The bank appoints an advisory body to ensure that the manufactured product is implemented in accordance with the specifications.

Frequently Asked Questions

Answers to your questions

Sharia-compliant financing such as Murabaha, car financing, and goods/services financing.

Subject to bank policies and Central Bank regulations, including creditworthiness assessment.

Based on the financing amount and duration after application review.

Through bank branches or digital channels.

Through the branch or customer service.