Islamic contracts for financing (part 2)
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The Arabic word for sale is bay'. Bay' literally means exchange, and applies to both sale and purchase. Technically, sale refers to an exchange of one property for another, one of which is called the subject-matter/ object, and the other the price. Sale can also be defined as a transfer of ownership of property for a consideration or compensation.
Contract of sale , Bay' , Purchase
Saleem, Muhammad Yusuf. (2012). Islamic contracts for financing (part 2). In Adnan Trakic & Hanifah Haydar Ali Tajuddin (Eds.), Islamic banking & finance: principles, instruments & operations (pp. 103-120). Ampang, Selangor: Malaysian Current Law Journal Sdn Bhd.
Malaysian Current Law Journal Sdn Bhd