AAOIFI Shariah Standards
Possession (Qabd): Appendix B - The Shariah Basis for the Standard
Realisation of Possession in the Shariah
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The basis for the realisation of actual possession with respect to gold, silver and currencies through actual physical possession is the sound tradition reported from Ubadah Ibn Al-Samit (may Allah be pleased with him), that the Messenger of Allah (peace be upon him), said, “Gold for gold, silver for silver. . . ,” till he said, “like for like, equal for equal, from hand to hand. If these species differ, then sell as you like as long as it is from hand to hand”.
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