Abstract:
Islamic banking is one of the fastest
growing industries all over the world. In Sri Lanka
even it is a non-Muslim country it has achieved a
significant growth within the short period of time. As
an alternative to Interest based financial institution,
Islamic financial institutions also offer their customer
varies financial products according to modern
financial needs. However, there are certain classical
Islamic financial products less usage like ‘Salam’ even
though it’s an original financing mode. This paper
attempts to propose potential application of ‘Salam’ in
Islamic Financial Institutions in Sri Lanka