Book Three: Banking Transactions · Part Six: Commercial Transactions of Islamic Financial Institutions · Chapter Two: Special Provisions for Certain Types of Contracts and Obligations to which Islamic Financial Institutions are a Party: Section One: Promise to Contract: Article (475) · Section Two: Installment Sale: Article (476)
The installment sale provisions set forth in this Section shall be applicable if it is agreed under the contract that the property ownership burdens, or the risks of its loss or deficiency for a matter beyond control would be transferred to the contracting party once the property is delivered to the same, even if the contracting parties call the sale a lease.
Interpretation and application must be checked against the official text and current version.
