Exporters often sell their goods on a credit basis. Not only this involves a certain of level of trust on the importer but it also implies an inevitable delay in receiving the payments. Considering, however, that these are the norms of Trade Finance, businesses often need a mechanism wherein they can receive the benefits of cash sales without having to worry about receiving their payments from their buyers. For this reason, exporters often resort to conventional Bill Discounting by applying for financing against the Bill of Exchange.
Considering that the conventional bill discounting process involves bai ul dayn (trade of debt) which is a form of interest, Trafin offers a unique you shariah compliant solution in the form of Currency Salam.


Salam refers to a sale of goods in which the seller is paid upfront against deferred delivery of the goods. This concept when applied to an exchange of different currencies serves as the perfect tool for shariah compliant alternative for bill discounting.
If you are an exporter, we understand that you often do not wish to wait for the sale proceeds. Considering that traditional bill discounting involves sale of debt at a discount, which is a form of interest, Trafin offers you a shariah compliant proposition in the form of Currency Salam.
In Currency Salam, upon your presentation of the Bill to Trafin, Trafin keeps the Bill as its security and enters to a Salam contract with you as per which it purchases the Foreign Currency from you (to be delivered at the Bill maturity date) against Canadian Dollars to be paid on spot.


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