Differences and Similarities of Classical Muamalah Fiqh and Contemporary Muamalah Fiqh in the Istishna Contract

Abstract

Akad istishna' is a form of contract in muamalah fiqh that is used in the transaction of ordering goods that must be produced first, such as building houses, building ships, or manufacturing certain goods. This study aims to analyze the differences and similarities between classical and contemporary muamalah fiqh views on the istishna' contract. The approach used in this study is qualitative-descriptive with a literature study method. The results of the study show that both classical and contemporary jurisprudence agree in establishing the legal foundations and pillars of the istishna' contract, as well as emphasizing the principles of justice, clarity, and willingness in transactions. However, differences arise in terms of the flexibility of their implementation and application in the modern financial system. Contemporary jurisprudence is more adaptive in responding to the needs of the times through the development of Islamic financial products, such as istishna' financing in Islamic banking, as well as the existence of fatwas from authoritative institutions such as DSN-MUI. Thus, this study recommends a harmonization between classical values and contemporary needs so that the istishna' contract remains relevant and applicable in modern life.