The Salam transaction in the Islamic tradition and its application in Islamic banking

This article reveals some features of the “Salam” contract which refers to purchase a commodity for deferred delivery in exchange immediate payment. The structure Salam Contract changes logic ordinary sales contracts, hereby focuses on differentiation between pre-paid one hand and goods (bay’) concept advanced payment other hand. Part 2 highlights as type pre-delivery finance instrument based Islamic banking theory practice. As instrument, salam agreement is primarily aimed at implementing financing real sector economy, makes it possible adjust, plan, replenish accelerate turnover funds both banks themselves their counterparties. Nevertheless, mechanism activities forming contractual relations with reliable financially stable With help salam, bank acts participant trade domestic foreign markets. Under agreement, mainly buys whose prices are quoted international exchanges or financial trading platforms. Along cooperation companies operating export-import industry, this sale an effective way agricultural producers. observes also discussion over application market shares. One point view issue that shares have signs individually defined things thus do not meet mandatory feature transaction. Another opinion insists correspond all characteristics generic items, including ability determine properties order (deliver) them. There intermediate points view.