Types of al-Bay'
Bay' al-Tawarruq
Bay' al-Wadiah
Bay' al-Tawliyah
Bay' al-Istijrar
Bay' Bithaman Ajil
Bay' al-Inah
Bay' al-Murabahah
Bay' al-Musawamah
Bay' al-Salam
Bay' al-Dayn
Bay' al-Istisna'
Sale with deferred payment of the price.
Double sale involving "buy-back".
A sale in which the seller is not obligated to disclose the price paid to obtain the goods.
Sale of debt that is created under Shariah compliant business activities.
Buying a commodity on differed payment and selling it to a person other than the buyer for a lower price with immediate payment.
The seller resells the goods at a discount from the original cost at which the goods were obtained (below cost)
The resale of goods at the stated original cost with no profit or loss to the seller.
An agreement whereby payment is made immediately while the goods are delivered at an agreed later date. Is is equivalent to an advance payment. The delivery of the goods is made in the future while the price needs to be settled on the spot.
Sale of commodity whereby price have addition of the stated profit. The price is divided by seller or owner and be agreed (mutual) by buyer.
An agreement between the client and the supplier, whereby the supplier agrees to supply a particular product on an ongoing basis, at an agreed price and method of payment.
Sale in the way of ordering which means price is paid in advance but the assets are manufactured and delivered at a later specified time.
Example: The bank purchases commodity from a Trader A in the
commodity market on a cash basis. The bank then sells the commodity to the customer at a deferred price (cost price plus profit margin) payable in a lump sum or instalment basis. The customer may appoint the bank as his agent to sell the commodity to another Trader B on cash basis in the commodity market, and the bank then sells the commodity as agent of the customer to Trader B on a cash basis in the commodity market.