Bay al Salam

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Bay al Salam

In Islamic finance, a sale in which delivery is deferred until some stated date in the future. It is used for agricultural products and other fungibles. In order to comply with the sharia, a salam contract must specify the quality of the good to be delivered, and payment must be made at the time the contract is entered.
References in periodicals archive ?
Bai Salam: Salam means a contract in which advance payment is made for goods to be delivered later on.
Bai Salam covers almost everything that is capable of being described with respect to quantity, quality, and workmanship.
For example, 'Bai salam' means a contract in which advance payment is made for goods that are delivered later.
Similar to Bai Salam, except that in Bai Salam, the full payment is made in advance, ie before the delivery of the goods.
* Bai Salam: the purchaser pays upfront in cash for all products which will then be delivered only after a term defined by the seller.
Possession of assets - A party is not allowed to sell or deal in items which are either borrowed, or which have not yet come into existence (the only exceptions to this are the Bai Salam and Bai Istisna' models and these shall be examined in the further articles in this series).
Bai Salam: Salam means a contract in which advance payment is###Bai bil Wafa: Sale with a right in the seller, having the effect of a
<p>Celent recently published an overview of Islamic banking technology vendors, concluding that all the solutions they reviewed offer a high level of technology, can run on various platforms, support most major server operating systems, and use multiple and modern relational databases.<p>Furthermore, some vendors have built their solutions on service-oriented architecture, which is a set of loosely coupled modular services to support both business and IT requirements.E[pounds sterling]<p>In terms of product coverage, all the solutions Celent studied have multilingual and multicurrency functionality and enable the creation of all the following products: Wadiah, Mudarabah, Murabahah, Musharakah, Ijara, Bai Salam, Istina'a and Sukuk.
Bai Salam: Salam means a contract in which advance payment is made for goods to be###Bai bil Wafa: Sale with a right in the seller, having the effect of a condition, to repurchase
BAI SALAM and PARALLEL SALAM (FOR AGRICULTURE RE-STRUCTURING): Due to the flood, fields and crops in the regions are fully damaged and it needs instant recovery of the damages of the edible growth.