IME to Offer Salaf Contracts To Help Lift Housing Sector

The plan to presale housing units through standard salaf contract will be implemented next month at the Iran Mercantile Exchange, the IME deputy for economic studies said. 
“IME plans to offer standard salaf contracts to secure funds through the capital market for the key housing sector,” Javad Fallah was quoted as saying by IRIB News Agency. 
Fallah said the prospectus has been prepared by the investment company that will underwrite the offer.  The underwriter is the Housing Investment Group Company affiliated to Bank Maskan, the main housing lender. 
Standard parallel salaf is an Islamic contract similar to futures, with the difference being that the contract’s total price is paid in advance.