Contract for Production in the Securities Market

Contract of Istesna’ is not new a contract. It has been longdiscussed by great juristic scholars dealing with its rulings. SheykhTusi in Al-Khelaf and Al-Mabsoot, Shafe’ei in Al-Umm andSarakhsi in Al-mabsoot have discussed about Istesna’ and it’s licitor illicit position, although in the past its applications were limitedto instances such as orders for making boots, shoes and iron, zinc orwood utensils.In this paper, after explaining the meaning of Istesna’, this contracthas been recognized as an independent one. Then, after introducingIstesna’ securities, jurisprudential and legal issues on the matter andon the relations in trading stock, bonds and institutions in relationwith issues of contract of Istesna’ and jurisprudence of selling havebeen studied. It has been tried to suggest solutions for challenges inthe relevant field.