It is a contractual arrangement that consists of two different and independent contracts; one in which the bank is a buyer and the other in which the bank is a seller. The two contracts cannot be tied up and performance of one contract should not be contingent upon the other. For further details see: ISRA, Islamic Financial System; Principles and Operations.
|Can Promises Be Exchanged to Conduct a Second Salam Sale upon Delivery of the Subject of the First Salam Sale?|
|Can the Buyer Resell the Subject Matter of a Salam Sale or Istisna‘ before It Is Delivered?|