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Consumer Zone

Glossary

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B

  • Bay' al Arboon,Deposit-secured sales.
    A sale agreement in which a security deposit is provided in advance as part payment towards the price of the commodity. The deposit is forfeited if the buyer does not meet his obligation
  • Bay' al 'Inah,sale and buyback.
    The sales and buyback of an asset for a higher price than that for which the seller originally sold it.

    A seller immediately buys back the asset he has sold on a deferred payment basis at a price that is higher than the original price. This can be seen as a loan in the form of a sale.
  • Bay Al Salam,future delivery.
    A contract whereby the payment is made in cash at the point of contract but the delivery of asset purchased will be deferred to a predetermined date.

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