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- Q17001359 subject Q8555494.
- Q17001359 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”".
- Q17001359 thumbnail UsuryDurer.jpg?width=300.
- Q17001359 wikiPageExternalLink www.wdibf.com.
- Q17001359 wikiPageWikiLink Q11451.
- Q17001359 wikiPageWikiLink Q1518246.
- Q17001359 wikiPageWikiLink Q22687.
- Q17001359 wikiPageWikiLink Q432.
- Q17001359 wikiPageWikiLink Q457753.
- Q17001359 wikiPageWikiLink Q482752.
- Q17001359 wikiPageWikiLink Q5425823.
- Q17001359 wikiPageWikiLink Q7489636.
- Q17001359 wikiPageWikiLink Q8555494.
- Q17001359 wikiPageWikiLink Q926217.
- Q17001359 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.".
- Q17001359 label "Bai Salam".
- Q17001359 depiction UsuryDurer.jpg.