Is it permissible for an employee of a building association to sell an apartment that was allocated to him without a down payment, with the sale being conducted through a broker to another buyer who pays the full amount, after which the employee receives his share of the profit, knowing that the employee owns the apartment in his name on the association's system but does not know its location?
The contract mentioned is an istisna' (manufacturing) contract, which is Islamically permissible. It does not require the capital to be handed over at the contracting session. However, it is not permissible to sell the manufactured item before taking possession of it from the manufacturer, whether actually or constructively.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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