Certainly, only a financial system with such noble values can keep at bay any economic adversity in a society, and is bound to create equal opportunities towards...


Sukuk Issuance

Understanding the project

Structuring the project
Pre-marketing feedback

Transaction legal documents and Fatwa


Salam  Sale commodity 

Like istisna, Salam is another sale structure where certain commodity is transacted before coming into existence. In Salam, seller undertakes to supply certain commodity in future...


Bai Mutalq - Sale on cash Basis

  • If the transfer of registered title cannot be done on spot basis, the period for completing such formality must not be left to an uncertain period.
  • If the seller fails to transfer the registered title to the buyer within the agreed period, the buyer may revoke the sale and seek refund of price.
  • All of the rules applied on bai mutlaq will also be valid for bai muajjal, except for payment terms which will be agreed deferred period.
  • As the payment of sale price is deferred in bai muajjal, the payment terms / schedule should be pre-agreed at the time of signing / entering into the sale contract.
  • In case of deferred sale, the price must be an agreed fixed amount, irrespective of any pre-payment or delay by the purchaser. The price cannot change in any of these circumstances.
  • The sale contract must not contain any conditions repugnant to the very nature of sale, such as a stipulation by the seller that the title to the asset shall not pass to the buyer unless he has paid the full purchase price. Sharia requires transfer of ownership to the subject matter of the sale contract immediately upon entering into it, however, seller may seek mortgaging the title till receipt of full sale price from the purchaser.
  • This is because as per sharia, the title gets passed to buyer immediately upon signing sale contract, irrespective of the payment terms.