Islamic Finance
Bay’ bil Nasi’ah
May 12, 2023
Islamic Finance
Borrowed Pledge
May 12, 2023

Al-fodhouli is a person who intervenes or interferes in others’ affairs without being invited or called on (out of curiosity). In shari’a terminology, the sale of an uncommissioned agent is a type of sale undertaken by a person who is not a principal, agent or custodian in relation to the sale contract. Jurists (fuqaha) were of two opinions as to the permissibility of ba’i al-fodhouli. Some considered it null and void on the ground that it leads to defective transactions (it amounts to an act taken on behalf of another person without his explicit consent).

However, others validated it unless it is not in the best interest of the owner. In other words, if this sale is made for fear that the underlying would be lost or destroyed, then the transaction is valid and permissible.

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