Islamic Securities Selling and Buying - Negotiated Transaction ("ISSBNT") Model is a Shariah-compliant alternative to the conventional Securities Borrowing and Lending - Negotiated Transaction ("SBLNT") Model. The ISSBNT Model is structured based on two outright bai` (sale) transactions that includes the feature of wa`dan (two unilateral promises/undertakings), khiyar al-shart (conditional option) and the provision of collateral as security for the indebtedness. The details of these features are explained in the ISSBNT Circular NO. 1/2017 and the Frequently-Asked Questions (FAQs).

The ISSBNT framework was introduced by Bursa Malaysia Berhad ("Bursa") for parties to undertake a transaction that delivers the equivalent outcome of a conventional securities borrowing and lending transaction but is structured based on Shariah principles.

The Shariah Advisory Council ("SAC") of the Securities Commission resolved on 26 February 2015 that the ISSBNT Model is permissible (Ref: Resolutions of the Shariah Advisory Council of the Securities Commission Malaysia 2018, page 39, which is downloadable  here.)

ISSBNT's Operational Guidelines

Operational Guidelines for Approved Suppliers & Approved Users