صيغ تمويل المشروعات الصغيرة في الاقتصاد الإسلامي[Islamic financial instruments and small and medium enterprises]

Islamic markets offer different instruments to satisfy providers and users of funds in a variety of ways: sales, trade financing, and investment. Basic instruments include cost-plus financing (murabaha), profit-sharing (mudaraba) ,leasing (ijara), partnership (musharaka) ,and for ward sale (bay’ salam), Deferred-payment sale (bay’ mu’ajjal) and deferred-delivery sale (bay’salam) contracts, in addition to spot sales,are used for conducting credit sales. In a deferred-payment sale, delivery of the product is taken on the spot but delivery of the payment is delayed for an agreed period. Payment can be made in a lump sum or in installments, provided there is no extra charge for the delay. A deferred-delivery sale is similar to a forward contract where delivery of the product is in the future in exchange for payment on the spot market. These instruments serve as the basic building blocks for developing a wide array of more complex financial instruments, suggesting that there is great potential for financial innovation and expansion in Islamic financial markets This paper aims to study the most important of the Islamic financial instruments that can be used to finance small and medium enterprises.