The International Islamic Fiqh Academy resolved: “In situations where a sale contract cannot be concluded because the seller does not own the commodity and there is a public interest in obligating both parties to sign a contract in the future by virtue of law or otherwise, or according to inter- national norms and customs, as in the case of opening letters of credit for importing goods, bilateral promise can be made binding to the two parties”. [Resolution No. (157) 6/17 on Bilateral Promise and Collusion in Contracts (Islamic Fiqh Academy Magazine), Issue No. (17), Vol. 3, (P. 681)]