An Arabic term that translates into moveable property, as opposed to immovable property (al-iqar); By definition, it is a property or asset that can be transferred and moved from one place to another such as cash, gold and silver bullions, loans, vehicles, furniture, commodities, inventory items, etc. In this sense, al-manqoolat (pl. of manqul) may include current assets and some types of fixed assets. Moveables are typically taken possession of through physical delivery (actual possession) or hypothecation or constructive possession (e.g. official registration). Legal or constructive possession of moveables can be effected by relinquishing the item for the party entitled thereto, i.e., enabling that party to dispose of it without any hindrance or obstruction even when it has not yet been physically moved or transported.
December 14, 2024
