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What are the key criteria of the ISSBNT (Islamic Securities Selling and Buying – Negotiated Transaction) model as endorsed by the Shariah Advisory Council (SAC) of the Securities Commission Malaysia?

Key criteria of ISSBNT model are reflected below. All these criteria must be present before a transaction  can be considered an ISSBNT.

 

Criterion No. 1: Transfer of Securities
Criterion No. 2: Sale and Purchase Price
Criterion No. 3: Types of Collaterals
Criterion No. 4: Execution of Leg 1 and Leg 2 and Extinguishment
Criterion No. 5: Application of Khiyar al-Shart
Criterion No. 6: Remedies for Reclassification of Securities
Criterion No. 7: Cash Settlement via Commodity Murabahah
Criterion No. 8: Imposition of Compensation Charges
Criterion No. 9: Ownership, Risk & Liabilities

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