Bai Al-Salam Case Study
ABSTRACT
This paper aims to explore the concept and modus operandi in Bai’ al-Salam, one of the types of transactions that allowed Syara’ based on human welfare, which allows the sale of something which does not exist at the time of sale. For this purpose, pillars and conditions Bai' al-Salam will be discussed. Next, the paper will discuss Islamic financing through the concept of Bai’ al-Salam which are includes the financing of Bai’ al-Salam in mixed (hybrid), products Bai’ al-Salam as working capital financing (working capital), and financing Bai’ al-Salam in parallel (parallel Salam). Other than that, the comparison between Bai’ al- Salam and contemporary application in financing which is Istisna’ also will discuss. This paper will focuses …show more content…
The buyer is the person who puts his money for goods he wants. Buyer is referred to as al-Muslim or owner al-Salam of the hand or advance payment. The seller is the person who received the money as payment for the goods will be given. It cited as Al-Muslam Ilaihi. The buyers and sellers are required as conditions of the seller and the buyer in the sale contract. As to contracting parties to the contract of Bai’ al-Salam, the conditions are same as the conditions of regular sale contract. Thus, contracting parties must be competent by having legal age, sanity, discernment, and freedom of …show more content…
Therefore, Bai’ al-Salam has gain the profit through the needs of each person that practice it include the buyer and the seller.”
The author Fat’h al-Qadir made more explanation that show that “Each of the purchaser (financier) and seller (borrower) has their own needs and wants. The former need to purchase one commodity that relative to the lower price until the former to make again it and that easier through Bai’ al-Salam because the price of commodity that sell in Bai’ al-Salam become lowest from the real price. Meanwhile, the seller need finance at present has the ability to provide the commodity in future. Therefore, Bai’ al-Salam has enables seller to utilize his future financial ability to satisfy his present
This paper aims to explore the concept and modus operandi in Bai’ al-Salam, one of the types of transactions that allowed Syara’ based on human welfare, which allows the sale of something which does not exist at the time of sale. For this purpose, pillars and conditions Bai' al-Salam will be discussed. Next, the paper will discuss Islamic financing through the concept of Bai’ al-Salam which are includes the financing of Bai’ al-Salam in mixed (hybrid), products Bai’ al-Salam as working capital financing (working capital), and financing Bai’ al-Salam in parallel (parallel Salam). Other than that, the comparison between Bai’ al- Salam and contemporary application in financing which is Istisna’ also will discuss. This paper will focuses …show more content…
The buyer is the person who puts his money for goods he wants. Buyer is referred to as al-Muslim or owner al-Salam of the hand or advance payment. The seller is the person who received the money as payment for the goods will be given. It cited as Al-Muslam Ilaihi. The buyers and sellers are required as conditions of the seller and the buyer in the sale contract. As to contracting parties to the contract of Bai’ al-Salam, the conditions are same as the conditions of regular sale contract. Thus, contracting parties must be competent by having legal age, sanity, discernment, and freedom of …show more content…
Therefore, Bai’ al-Salam has gain the profit through the needs of each person that practice it include the buyer and the seller.”
The author Fat’h al-Qadir made more explanation that show that “Each of the purchaser (financier) and seller (borrower) has their own needs and wants. The former need to purchase one commodity that relative to the lower price until the former to make again it and that easier through Bai’ al-Salam because the price of commodity that sell in Bai’ al-Salam become lowest from the real price. Meanwhile, the seller need finance at present has the ability to provide the commodity in future. Therefore, Bai’ al-Salam has enables seller to utilize his future financial ability to satisfy his present