title: The Salam transaction in the Islamic tradition and its application in Islamic banking
metadata.name: dc.contributor.author
metadata.value: Primakov, Denis Ya.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Rudokvas, Anton D.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Tenberga, Inese
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-02-07T17:50:28Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-02-07T17:50:28Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2022-12
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Primakov, Denis Ya., Rudokvas, Anton D., Tenberga, Inese. 2022. The Salam transaction in the Islamic tradition and its application in Islamic banking. Pravovedenie 66 (4): 408–421. https://doi.org/10.21638/spbu25.2022.404 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu25.2022.404
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/39045
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This article reveals some features of the “Salam” contract which refers to the purchase of a
  commodity for deferred delivery in exchange for immediate payment. The structure of the
  Salam Contract changes the logic of ordinary sales contracts, hereby article focuses on differentiation between pre-paid Salam Contract on the one hand and the sales of goods contract
  (bay’) and the concept of advanced payment on the other hand. Part 2 of the article highlights
  the Salam Contract as a type of pre-delivery finance instrument based on the Islamic banking
  theory and practice. As a banking instrument, the salam agreement is primarily aimed at implementing
  pre-delivery financing of the real sector of the economy, which makes it possible to
  adjust, plan, replenish and accelerate the turnover of funds of both Islamic banks themselves
  and their counterparties. Nevertheless, the mechanism of implementing salam in the activities
  of Islamic banks is primarily aimed at forming contractual relations with reliable and financially
  stable counterparties. With the help of salam, the Islamic bank acts as a participant in trade in
  the domestic and foreign markets. Under the Salam agreement, the Islamic bank mainly buys
  goods whose prices are quoted on international commodity exchanges or on Islamic financial
  and trading platforms. Along with cooperation with companies operating in the export-import
  industry, this type of purchase and sale is an effective way of pre-delivery financing of agricultural
  producers. The article observes also a discussion over Salam Contract application for the
  market of shares. One point of view on this issue is that the shares have the signs of the individually
  defined things and thus do not meet the mandatory feature of the salam transaction.
  Another opinion insists that the shares correspond to all the characteristics of generic items,
  including the ability to determine their properties and the ability to order (deliver) them. There
  are also other intermediate points of view.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Pravovedenie;Volume 66; Issue 4
metadata.lang: -
metadata.name: dc.subject
metadata.value: salam transaction
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: pre-delivery financing
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: Islamic banking
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: trade
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: purchase and sale
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: advance payment
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: The Salam transaction in the Islamic tradition and its application in Islamic banking
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 04.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/39045/1/04.pdf
resources.format: Adobe PDF
resources.size: 778,17 kB