التحوط بتعلیق مقدار محل العقد على أجل مستقبلي في بیع السلم في ضوء ھندسة مالیة إسلامیة

Abstract

Financial engineering represents an economic need to innovate new financial products capable of achieving profits and reduce costs while avoiding risks and uncertain future outcomes. Several financial products have been proposed to achieve those goals, among which was Salam bilsi’ir (salam with price), and Salam with postponed payment at a future date. As conformation to shariah is an essential condition to consider any innovative product to be within Islamic financial engineering, the researcher discussed the above products in the light of shariah texts evaluating the sources and arguments they were based upon. The researcher concludes that postponing the amount of a commodity or its price in a Salam contract does not conform to shariah texts nor to its rationale, and that those who claim the opposite have used evidence out of context