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 ?
Keywords: Bay Salam financing, agriculture financing, farmer, Agriculture Financing.
The paper has been divided into two different sections, first section introduces Bay Salam mode of financing in detail, and second section provides an overview of agriculture sector of Pakistan.