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This paper seeks to clarify the status of bay istirsal as a type of Islamic contracts according Muslim scholars. The discussions revolve around its meaning, rules and the acceptance of this contract among Muslim scholars. This paper analyses the meaning of bay istirsal by referring to the scholarly works on Islamic jurisprudence. Based on the analysis conducted, the study reveals that bay istirsal has been discussed by classical jurists under the concept of ghabn or khiyar ghabn (option of deceit). This present paper discusses the issue thoroughly and arrives at a conclusion that bay istirsal could be considered as a special contract that has its specific rules and implications in Sharia.

Bay Al-istirsal and its Ruling in Sharia Perspective