Analysis of Qabḍ Element in Contra Trading from Sharia Perspectives
Wan Muazah Binti Mgt Azizi, Azlin Alisa Binti Ahmad

Abstract
Qabḍ is one of the most important elements of a transaction. The implication of the qabḍ element in a transaction leads to the transfer of asset custody and the ability to use the asset. In the investing instrument of contra trading, qabḍ is one of the elements questioned by the scholars about uncertainty of when the qabḍ is occured. This is due to the instrument allows investors to start selling shares starting on the day the transaction (T-day) occurs, while the handover or possession (qabḍ) of the commodity into the investor's account will only occur on the last day of the transaction (T+3). Therefore, this article aims to analyze the implementation of qabḍ elements in contra trading instruments based on the views of the fuqaha in detail. The study is qualitative using the content analysis approach. The findings of this study found that the status of application qabḍ in contra trading instruments is dependent on the time of stock sales. Furthermore, this study will add scientific findings to the scholars out there on the qabḍ element in its special investment deals on contra trading instruments.

Full Text: PDF