What is the ruling on dealing with the Jordan Islamic Bank, which buys a commodity and sells it in installments, and does the description "two sales in one" apply to it due to its not possessing the commodity initially?

It is not possible to rule on the dealings of the aforementioned bank without reviewing them.

As for the transaction in question: Murabaha sale to a purchasing agent is originally permissible if it adheres to Sharia controls, the most important of which are: that the sale takes place after the commodity enters into the seller's possession and guarantee, and when the price is deferred, the contract must specify the number and amount of installments, and the price must not increase due to delayed payment, nor should a penalty be imposed for it.

The Islamic Fiqh Academy has issued a resolution permitting Murabaha sale to a purchasing agent, which states: Firstly: Murabaha sale to a purchasing agent is permissible if it pertains to a commodity after it has entered into the possession of the agent and has been seized, and the agent bears the responsibility for damage before delivery and the liability for return due to a hidden defect, provided that the conditions of sale are met and its impediments are absent.

Secondly: A promise made by one party is religiously binding unless there is an excuse, and legally binding if it is contingent on a cause and the promisee incurs a cost. The effect of the obligation is to fulfill the promise or compensate for the damage.

Thirdly: Mutual promising between two parties is permissible in a Murabaha sale, provided there is an option for both promising parties; otherwise, it is not permissible. This is because a binding mutual promise resembles the sale itself, and it is a condition that the seller be the owner of the sold item.