This research mainly focuses on explaining the Islamic financial concept Qabd (holding the item) in money- exchange contract, its importance, and its originality. This paper explains the Arabic linguistic meaning of the word (Qabd) which means getting the cash or being able to handle the item.

Legally, Qabd means when the buyer becomes able to use the product or property that they have just bought because the seller has transferred that product or property to the buyer and authorized them to receive and get it.

The Islamic texts do not determine one final definition of Qabd, nor do they determine one form of it.  The Islamic texts talk generally about it. They do not determine restrictions or conditions to frame it. In general, Qabd achieves when the buyer gets the product, and when s/he is able to use it, or handle it physically or metaphorically; the latter situation happens when the seller is able to own the product (like a house), but they cannot hold it.

This research concluded that in our contemporary life, specifying the item, and authorizing the buyer to use it is considered a substitution to Qabd.

Related to money exchange, it is possible to consider that getting the cash (Qabd) is allowed once there are specified restrictions related to the one currency such as its value provided that both parties who are involved in money exchange have the money and hold it.

Keywords: Qabd, Exchange, authorizing

 

Title

مجلة العلوم الإنسانية

Publisher

جامعة الاقصى

Publisher Country

Palestine

Publication Type

Both (Printed and Online)

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