Salam (also used in German)

In Islamic banking, a short-term contract under which the seller agrees to deliver certain goods at a later date. The buyer, however, pays for these goods immediately in cash (a short-term agreement under which a financial institution pays, in advance, amounts corresponding to the future delivery of a defined quantity of goods). Such contracts are particularly common in the agricultural sector. – See crop support credit, ijara, istisna, landscape, mudaraba, murabaha, option, quard al-hasan, sukuk, interest ban.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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