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Exploring the Scope and Socio-Economic benefits of Bay’ Salam for the Agriculture Sector in Pakistan

Islamic Banking and Finance Review

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Title Exploring the Scope and Socio-Economic benefits of Bay’ Salam for the Agriculture Sector in Pakistan
 
Creator Naeem Ahmed
Dr. Muhammad Tahir Mansoori
Dr. Atiquzzafar Khan
 
Subject agriculture
Bay’ Salam
credit, socio-economic benefits of Salam
 
Description The socio-economic conditions of a vast majority of small farmers in developing and poor countries are miserable. There are various factors which hurt poor farmers like the shortage of water, costly seeds and fertilizers, poor patronage from the government, olden cultivation techniques, illiteracy and lack of training. These problems no doubt hurt the farmers at large. The lack of credit is one of the most serious issues which not only impedes the agricultural performance but also the welfare of farmers. The existing credit schemes for farmers in Pakistan have many demerits. Among them are exploitative conditions, interest-based, access-difficult and cumbersome procedures. Islam, in the form of Bay’s Salam, provides an alternative credit system that is not only much easier but also free from exploitation and many ills of conventional forms of credit. With the exception of the last century, Bay’ Slam had been practiced widely in many Muslim countries and had served the poor farming communities effectively. This paper analyses the potential and scope of Bay’ Salam as a substitute to the existing forms of agricultural credit using secondary and primary data.
 
Publisher Department of Banking and Finance, University of Management & Technology, Lahore, Pakistan
 
Date 2018-12-12
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://journals.umt.edu.pk/index.php/IBFR/article/view/175
10.32350/ibfr.2018.05.03
 
Source Islamic Banking and Finance Review; Vol 5 (2018): IBFR 1439-40H/2018; 39-56
2221-5239
2413-2977
 
Language eng
 
Relation https://journals.umt.edu.pk/index.php/IBFR/article/view/175/172
 
Rights Copyright (c) 2018 Islamic Banking and Finance Review (IBFR)