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Salam

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English: advance purchase

Alternate spelling: Al Salam, Bai al Salam, Bai Salam

Definition: Advance payment for goods which are to be delivered at a specified future date. Under normal circumstances, a sale cannot be effected unless the goods are in existence at the time of the bargain. However, this type of sale is an exception, provided the goods are defined and the date of delivery is fixed. The objects of sale must be tangible goods that can be defined as to quantity, quality and workmanship.

This mode of financing is often applied in the agricultural sector, where the bank advances money for various inputs to receive a share in the crop, which it then sells.

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Wednesday, 30 Jun 2021 | Volume18.Issue27

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Monday, 28 Jun 2021 | Volume18.Issue26

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Wednesday, 23 Jun 2021 | Volume18.Issue26

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Thursday, 17 Jun 2021 | Volume18.Issue25

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Al Salam Bank signs MoU

Wednesday, 16 Jun 2021 | Volume18.Issue25

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Al Salam signs MoU with Era Projects

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Al Salam launches new campaign

Monday, 07 Jun 2021 | Volume18.Issue23

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Al Salam Bank sponsors BIBF library

Wednesday, 02 Jun 2021 | Volume18.Issue23

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CBG’s Sukuk Salam oversubscribed

Wednesday, 02 Jun 2021 | Volume18.Issue23

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Al Salam Bank to open new branch in Al Liwan

Thursday, 27 May 2021 | Volume18.Issue22

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Salama Cooperative Insurance Co

Tuesday, 25 May 2021 | Volume18.Issue21

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Monday, 17 May 2021 | Volume18.Issue20

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Monday, 17 May 2021 | Volume18.Issue20

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Wednesday, 05 May 2021 | Volume18.Issue19

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Thursday, 18 Mar 2021 | Volume18.Issue12

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Tuesday, 16 Mar 2021 | Volume18.Issue11

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Friday, 12 Mar 2021 | Volume18.Issue11

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