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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.



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