Derivatives

NOB Spread

February 24, 2023
Derivatives

NEO

February 24, 2023

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A type of guaranty that involves securing a person’s physical presence at a specified place and time. It is established if the guarantor (kafeel) says: “I guarantee to bring so-and-so in person to this or that place”. It can also be established on saying: “I guarantee so-and-so’s nick/body/soul, etc” or “I am responsible for bringing so-and-so”. Guaranteeing a portion of an individual (neck, head, etc) is tantamount to guaranteeing him in whole (this is consistent with the juristic principle stating that specifying part of an indivisible object is equivalent to specifying the whole).

Physical guaranty is known in Arabic as kafalah bil nafs.

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