Assalamualaikum and hello. Welcome to DIB2C blog which consisted of what we had been taught since week one until now. Through this the readers could see our learning progression and little bit of info. These blog consists of six groups of contract which had been divided during our first week of class. Hope the readers would get some knowledge by scrolling our blog!
Thursday, March 21, 2019
Hi! This is our topic presentation about Bay' Salam last week. :)
Bay Salam is about an Islamic contract in which full payment is made in advance for specific goods (often agricultural products) to be delivered at a future date. 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 workmanship. For Islamic banks this product is an ideal for Agriculture financing but can also be used to finance the working capital needs to the business customer. It is one of the most popular Islamic Modes of finance used by banks in Islamic countries to promote riba thats free transactions.
For more details you guys need to explore our slides.
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