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Are there transactions where immediate exchange of the goods is not needed? |
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Kitabul Buyu' [Book of Transactions] -
Salam [Prepayment - Forward Buying]
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Question 863) - Are there transactions where immediate exchange of the goods is not needed?
A: Yes, it is called Salam. It is an exchange of Dayn [deferred Payment] for 'Ayn [immediate payment]. It is allowed even though the buyer only takes the goods after a specified time.
~ al-Quduri ~
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