sales contract that fixes the price of certain goods or items, including a pre-agreed profit margin.
takes the form of a contract between two parties, one who provides the funds and the other who provides the expertise and who agree to the division of any profits made in advance.
Appendix B: Juristic rules of Salam1- Definition:Salam and Salaf (borrowing) are of the same meaning. Salam is a type of sale and it can be defined as:”Purchase of a commodity for deferred delivery in exchange for immediate payment according to specified conditions” or sale of a commodity for deferred deliver in exchange for immediate payment.
It’s a contract between two parties; one of the two parties is committed to do specified work and with specified. This sort of finance mode is used for financing rehabilitation of agricultural lands, building construction and transferring of items and goods.
Juristic rules of Ijarah and Ijarah Muntahia Bittamleek1. IjarahSome fuqaha (Jursists() have defined Ijarah as: Ownership of the right to benefit of using an asset in return for consideration. Some fuqaha has included in the definition the duration of the benefit