Istisnā (manufacturing contract) means to order a manufacturer to manufacture a commodity for the purchaser. A client agrees to produce or build a well-described good or building at a given price on a given date in the future. Price can be paid in installments as agreed between the client and the bank.
In summary, the various financing modes under Islamic banking system are suitable to Uganda since they encourage the development of trade, industry, construction and above all boosting agriculture. Let us all welcome Islamic banking in Uganda’s economy.