In the Name of Allāh,

the Entirely Merciful, the Especially Merciful

Praise is due to Allāh, Lord of the worlds, may the blessings and peace be upon our master Muḥammad, the last of prophets, on his family, and all his companions.

Resolution No. 53 (4/6) Qabḍ (Taking Possession):

Forms (esp. the latest) and their Rulings

The Council of the International Islamic Fiqh Academy of the Organization of the Islamic Conference, holding its 6th session in Jeddah, Kingdom of Saudi Arabia, on 17–23 Shaʿbān 1410h (14–20 March 1990),

Having examined the research papers submitted to the Academy concerning

Qabḍ (taking possession): Forms (esp. the latest) and their Rulings, Having listened to the discussions on the subject,

Resolves

First: Just as the possession of commodities may be physical, by taking the commodity in one’s hand or measuring or weighing the eatables, or by trans- ferring or delivering the commodity to the premises of the possessor, similarly the possession may also be an implied or constructive possession which takes place by leaving the commodity at one’s disposal and enabling him to deal with it as he wills. This will be deemed a valid possession, even though the physical possession has not taken place. As for the mode of possession, it may vary from commodity to commodity, according to its nature and pursuant to the different customs prevalent in this behalf.

Second: Some of the forms of Qabḍ Ḥukmī (constructive possession) rec- ognized both in Shariah and ʿUrf, are as follows:

1. Crediting a sum of money in the customer’s bank account, in the follow- ing cases:

   1. Where a sum of money has been credited to the account of the customer, either directly or through a Bank
   2. Where a customer contracts a sale of Ṣarf with the bank in the case of the purchase of a currency for another currency in favor of the customer’s
   3. Where the bank, on order of the customer, debits a sum of money

from his own account and credits it to another account, in another currency, either in the same bank or in another bank, whether it is credited in favor of the same or a different customer. But it is necessary for the banks to take into consideration Shariah rules governing the Ṣarf contract.

If such crediting takes some time to enabling the beneficiary to draw the amount so credited, this delay can be allowed, provided it does not exceed usual period normally allowed in such transaction. However, the beneficiary of such crediting cannot deal in the currency during the allowed period until the crediting takes its full effect by enabling the beneficiary to draw the amount.

2. Receipt of a cheque, provided that the issuer’s account has an amount which can be drawn in the currency specified in the cheque, and the bank has closed it (for the payee).

Indeed, Allāh is All-Knowing.