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Definition of

salam

Finance

agreement to pay now for goods delivered later in Islamic financing, a contract for the purchase of goods to be delivered at a specified time in the future. Payment for the goods is made in advance.

Definitions of ’salam’ and meaning of ’salam’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’salam’ and other financial terms with our online QFINANCE Financial Dictionary.

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