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- Bai_Salam abstract "Bai Salam (Arabic بيع سلم, more accurately transliterated as Bai us salam) is a contract in which advance payment is made for goods to be delivered at a future date, following Islam and Islamic shariah. The seller undertakes to supply some specific goods to the buyer at a future date in exchange of an advance price fully paid at the time of contract. It is necessary that the quality of the commodity intended to be purchased is fully specified leaving no ambiguity leading to dispute. Bai salam covers almost every thing which is capable of being definitely described as to quality, quantity and workman ship. For Islamic banks this product is an ideal for Agriculture financing. However, this can also be used to finance the working capital needs to the customer.It is one of the most popular Islamic Modes of finance used by banks in Islamic countries to promote riba-free transactions. Typically, banks use Bai Salam.Bai-Salam has been permitted by the Islamic prophet Mohammed himself, without any difference of opinion among the early or the contemporary jurists, notwithstanding the general principle of Shariah that the sale of a commodity which is not in the possession of the seller is not permitted. Upon migration from Makkah, Mohammed came to Madinah, where the people used to pay in advance the price of fruit or dates to be delivered over one, two or three years. However, such sale was carried out without specifying the quality, measure or weight of the commodity or the time of delivery. Mohammed ordained: “Whoever pays money in advancefor fruit to be delivered later should pay it for a known quality, specified measure and weight (of dates or fruit) of course along with the price and time of delivery”".
- Bai_Salam thumbnail UsuryDurer.jpg?width=300.
- Bai_Salam wikiPageExternalLink www.wdibf.com.
- Bai_Salam wikiPageID "35526747".
- Bai_Salam wikiPageLength "4362".
- Bai_Salam wikiPageOutDegree "12".
- Bai_Salam wikiPageRevisionID "698392756".
- Bai_Salam wikiPageWikiLink Agriculture.
- Bai_Salam wikiPageWikiLink Bank.
- Bai_Salam wikiPageWikiLink Category:Islamic_banking.
- Bai_Salam wikiPageWikiLink FINCA_Afghanistan.
- Bai_Salam wikiPageWikiLink Islam.
- Bai_Salam wikiPageWikiLink Islamic_banking_and_finance.
- Bai_Salam wikiPageWikiLink Microfinance.
- Bai_Salam wikiPageWikiLink Riba.
- Bai_Salam wikiPageWikiLink Sharia.
- Bai_Salam wikiPageWikiLink Sharia_investments.
- Bai_Salam wikiPageWikiLink File:UsuryDurer.jpg.
- Bai_Salam wikiPageWikiLinkText "salam".
- Bai_Salam wikiPageUsesTemplate Template:Banking.
- Bai_Salam wikiPageUsesTemplate Template:Islam_topics.
- Bai_Salam wikiPageUsesTemplate Template:Orphan.
- Bai_Salam subject Category:Islamic_banking.
- Bai_Salam hypernym Contract.
- Bai_Salam type Company.
- Bai_Salam comment "Bai Salam (Arabic بيع سلم, more accurately transliterated as Bai us salam) is a contract in which advance payment is made for goods to be delivered at a future date, following Islam and Islamic shariah. The seller undertakes to supply some specific goods to the buyer at a future date in exchange of an advance price fully paid at the time of contract. It is necessary that the quality of the commodity intended to be purchased is fully specified leaving no ambiguity leading to dispute.".
- Bai_Salam label "Bai Salam".
- Bai_Salam sameAs Q17001359.
- Bai_Salam sameAs m.0j9l8qf.
- Bai_Salam sameAs Q17001359.
- Bai_Salam wasDerivedFrom Bai_Salam?oldid=698392756.
- Bai_Salam depiction UsuryDurer.jpg.
- Bai_Salam isPrimaryTopicOf Bai_Salam.