What is the ruling on "Islamic Salam Financing" offered by Dubai Islamic Bank, which is based on the principle of a sale contract where the buyer pays the price in advance, and the seller delivers the goods with specific specifications and a defined quantity at agreed-upon deferred dates, knowing that the commodity sold to the bank is sugar, and is it permissible for the bank to make a profit from selling this commodity later in the market?

The mentioned transaction is the organized Salam (forward sale). Some scholars, like the Doctor, have deemed it impermissible, as he believes the problem lies in the fact that all its procedures take place solely between the client and the bank, and the bank acts as an agent for the client. He also warned against its resemblance to the prohibited organized Tawarruq (monetization). He was of the opinion that regulation leading to stratagem is not permissible, because the contracts involved are superficial and lead to circumventing the Sharia. Nevertheless, the Sharia Supervisory Board in some banks has permitted this contract. The organized Salam still requires further research and decisions from Islamic Fiqh academies.