Introduction to Deposit Sale, its Various Features and Rulings in Islamic Perspective

Abstract

Man has been in association with economy since his creation. Agriculture and trade has a vital role in economic system. In olden ages the concept of trade was limited but with the passage of time it has taken a vast structure. Since agriculture and trade have occupied on a prestigious place internationally much more than on national basis and now it is discussed and planned on the aforesaid base. Islam has observed its significance in its start and has provided the basic terms and conditions of practicing a mutual contract nationally as well as internationally. As The deposit sale known as” bi‛ al Ghirbān” is commonly practiced in finances on national and international levels. It is an optional part of the sales process, which is defined as” A specified amount of money (usually a percentage of the total amount) that is paid up front in order to ensure that the sale will go through and that the products/service will be provided.” A deposit is paid by the buyer to the seller before a sale is completed. The deposit sale is taken and utilized irrespectively to its legal status. What’s the status of deposit sale and what are its related commandments in Islamic sources? In these lines the introduction, the various features and rulings of the deposit sale have been discussed in rather detail.