Glossary
Qabd
قبضDefinition
Constructive or actual possession — the requirement that a buyer take possession of a purchased item before reselling it.
Classical fiqh requires possession before resale for movable goods. Modern scholars debate what counts as 'constructive possession' for intangible assets like shares and gold ETFs.
The qabd requirement is the primary reason CFDs and paper gold are widely ruled impermissible: the trader never takes possession of the underlying.