Salam and Parallel Salam: Appendix B - The Shariah Basis for the Standard
Permissibility of Salam
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A contract of Salam derives its permissibility from the Qur`an, the Sunnah and Ijma’ (consensus of Fuqaha). On the level of the Qur`an, Allah, the Almighty, says: {“O ye who believe! When you deal with each other, in transactions involving future obligations in a fixed period time, reduce them to writing”}. Ibn Abbas said: “I declare that a Salaf (Salam) contract in which the commodity is guaranteed for future delivery has been permitted by Allah” and then he read: {“O ye who believe! When
you deal with each other, in transactions involving future obligations in a fixed period time, reduce them to writing”}. It is reported that Ibn Abbas said: “This verse is a revelation for the particular purpose of making Salam permissible.”
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