 In this module, we would be further looking into applications of Salam as an Islamic mode of financing. In this structure, which may be called Salam platform, a platform is set up which executes Salam transactions with farmers. This actually was suggested by a party for Afghanistan quite a few years back. So the idea was a consortium of banks can set up a commodity platform. What do we mean by commodity platform? This could be a kind of commodity exchange. So banks, they can set up a commodity platform for what? Basically to buy and sell commodities. Now setting up a commodity platform that requires money, that requires funds. So the consortium of banks would actually fund it. So it would set up a commodity platform. The farmers can use this commodities platform to sell their produce on a Salam basis. When farmers sell on a Salam basis to this commodities platform, of course they receive the price upfront which can be deemed as financing. This is what I called as liquidity benefit. So the farmers, hundreds or in some cases, if it's a very successful platform, thousands of farmers can sell their produce or any other agricultural commodities to the platform and receive financing from the platform in the form of the Salam price paid upfront. The commodity platform then sells the commodities in the market as and when those commodities are delivered by the farmers. The commodity platform would be then selling them on to the prospective buyers. The difference between the actual price which the commodity platform receives and the Salam price would be deemed as the profit of the commodity platform, of course minus any costs incurred during this process. So this is a kind of combined activity in which a number of parties would be entering into Salam sales. A lot of farmers selling their produce on a Salam basis to the platform and the platform then selling the commodities to different buyers as and when the commodities are available. The difference between the two prices, the market price for which the commodity platform sells the commodities and the Salam prices that would determine the profit of the commodity platform. In terms of diagram, so we have these sponsors, these sponsors could be Islamic banks or there could be any other Islamic financial institution which is interested in doing a Sharia compliant business. So this commodity platform is set up by the sponsors and this platform offers an opportunity to cash deficit farmers to sell their agricultural produce on the Salam basis and receive the price upfront which would give them cash benefit. Why do these farmers want cash? Even in Pakistan, the farmers need cash for buying fertilizers. In many cases they have to buy diesel or petrol or whatever for water pump and there are so many other costs involved. For example, in the form of pesticides, they have to incur costs as well. So this Salam price would be deemed as financing for the farmers so that they could fulfill their immediate needs and in future when they have the commodities ready, they produce ready, they can deliver to the commodity platform. And of course in this case, farmers are happy because they are getting financing and the commodity platform is happy because it is making some money. Some people might say that this is like arti culture. Arti also does the same. In the case of arti, there is no regulation. In case of a commodity platform which would be set up by Islamic banks and other Islamic financial institutions, there could be a very active role of the regulator. The regulator can ensure that the commodity platform is not exploitative. If that regulation is there, we believe that a commodity platform using the concept of Salam to provide financing to the farmers could be a very good option.