Filter by Categories
Accounting
Banking

Islamic Finance




Hukmi


In shari’a parlance, it describes an act or condition (such as taking possession/ qabdh) as constructive, i.e., not directly expressed but inferred from another act or condition. For example, qabd hukmi (constructive possession) means that an object is within the control of a party with all the attendant rights and liabilities, even if is not yet in his physical possession. In other words, though the party has not taken the physical delivery of the object, but it has come into his risk and control, with all the rights and liabilities associated with the object being passed on to that party, including the risk of value depreciation or loss.

Hukmi is the opposite of haqiqi or fe’eli.



ABC
The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*