Promises in Islamic Commercial Dealings

Posted on 24th September 2012 by Camille Paldi,



‘The Islamic Fiqh Academy Jeddah has made the promises in commercial dealings binding on the promisor with the following conditions:

(a) It should be one-sided promise.

(b) The promise must have caused the promise to incur some liabilities.

(c) If the promise is to purchase something, the actual sale must take place at the appointed time by the exchange of offer and acceptance.  Mere promise itself should not be taken as the concluded sale.

(d) If the promisor backs out of his promise, the court may force him either to purchase the commodity or pay actual damages to the seller.  The actual damages will include the actual monetary loss suffered by him, but will not include the opportunity cost.’

Mufti Taqi Usmani

Posted on 24th September 2012 by Camille Paldi

Comment on this post



How to Obtain a Portugal Golden Visa

Posted on 29th March 2015 by Camille Silla Paldi


Find all our videos here, and also a link to our YouTube video channel so you can view our 'video of the week'


We would like you to get involved with our site. So if you want to submit Articles, Videos, Events and Call for Papers, please click the button below:


Valid XHTML 1.1 |  Valid CSS |  Web Design in Durham and Newcastle |  Copyright © 2015

* Prices are converted at USD$0.2723 per AED 1