Bandar Seri Begawan, Brunei Darussalam, 1–7 Muḥarram 1414 AH (21–27 June 1993 CE).

After reviewing the papers submitted to the Academy on the subject of the ʿurbān sale and after listening to the discussions that ensued, it resolved as follows:

1. The ʿurbān sale refers to selling a commodity on condition that the buyer pays the seller a sum of money which, if he proceeds with the purchase, is counted toward the price, but if he declines, remains with the seller. The same ruling applies to lease contracts, for they are sales of usufruct. Excluded are all transactions whose validity depends on taking possession of one of the two counter-values at the session of contract—such as salam—or taking possession of both counter-values—such as the exchange of ribā-liable commodities and currency exchange. Likewise, it does not apply to murābaḥah to the purchase-orderer at the promise stage, though it does apply at the actual sale stage that follows the promise.

2. The ʿurbān sale is permissible provided that the waiting period is confined to a specified time. The earnest money is to be regarded as part of the price if the sale is concluded, and it becomes the seller’s right if the buyer withdraws.