Derivatives
Range Accumulation Option
August 17, 2021
Islamic Finance
Forex Wa’ad
August 17, 2021

A type of sale (bay’), prevalent in pre-Islamic times, in which the object of sale was determined as the one on which a pebble or stone, thrown by a potential buyer, falls. In other words, the contract of sale was entered into by the buyer throwing a pebble or stone (hasah or hasat) towards the goods in question (such as clothes, camels, sheep, etc), with the one hit by the pebble being picked up as the actual object of sale. By this action, the contract was confirmed and the two parties were under obligation to exchange the object hit by the pebble. Shari’a prohibits bay’ al-hasah due to the amount of gharar it is associated with.

Bay’ al-hasah is an Arabic term that translates into sale by means of pebbles (or simply as pebble sale).

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts