IMU102

CHAPTER 2:
CONCEPT OF
PROPERTY

ACQUISITION & DISPOSAL OF PRO

Dr. Hamizah Muhammad / Oct2022
 CONCEPT OF PROPERTY / AL-MAL
METHOD OF
ACQUISITION
Islam, being a rational religion lays down the
conditions of acquisition of property.
Right of Ash-Shufe’ah gives the
partner the right to acquire the
CONTRACT OF SALE property of his partner (through
Trade and commerce sale) after the latter sold it to othe
are praised sources of PRE-EMPTION person who are an outsider.
acquiring ownership
rights of a property
TAKING
EXCLUSIVITY OF
INHERITANCE PERMISSIBLE ITEM
TO OWN
property/funds (assets) transferred It is property that has no own
from a deceased family member to and is not under anyon
their loved ones. possession and there are no leg
impediments to own it. E.g. Bir
in the sky, fish in the ocean, etc.

*GIFT/HIBAH/**BEQUEST
*acquire an item from a person without any return (during
life)
**money or property which you legally entitled (by wasiat) from someone after he/she died
By: drMiza_21/04/2021 (anyone excepting a legal heir)
ETHICS OF OWNING
PROPERTY
• It is permissible to keep some reserve
funds for emergencies or for possible
future needs.
• Hoarding wealth in the sense of keeping it
from circulation is forbidden
• Al Tawbah: 34 - Wahai orang-orang yang beriman!
Sesungguhnya banyak dari orang-orang alim dan rahib-rahib
mereka benar-benar memakan harta orang dengan jalan yang batil,
dan (mereka) menghalang-halangi (manusia) dari jalan Allah. Dan
orang-orang yang menyimpan emas dan perak dan tidak
menginfakkannya di jalan Allah, maka berikanlah kabar gembira
kepada mereka, (bahwa mereka akan mendapat) azab yang pedih.
 CONCEPT OF PROPERTY / AL-MAL

METHOD OF DISPOSAL
The Quran gives full rights of disposal of property to its owner, whether male or female, but at
the same time, it requires the owner to be most careful in spending it
There are many injunctions of a general nature to that effect. Thus, speaking of the righteous
servants of God (‘ibad al-Rahman) it says: "And they who, when they spend, are neither
extravagant nor parsimonious, and the just mean is ever between these" (25:67).

giving it as
CONTRACT security for deb
e.g: as security
for the
MORTGAGE repayment of
money
BEQUEST borrowed to
(wasiat)  money or property buy a land
(gadai)
which you legally leave to GIFT
someone when you die
(anyone excepting a legal giving of
heir) ownership of a
item to a perso
without any
Islamic endowment of property to be WAQF return
By: drMiza_21/04/2021 held in trust and used for a charitable
 Prohibition of excess
expenditure along with the
condemnation of miserliness
(Larangan perbelanjaan berlebihan bersama dengan kutukan
kedekut.).

ETHICS OF Al A’raf: 31 - eat and drink but waste not by

excess for Allah loveth not the wasters.
DISPOSING
PROPERTY
Al-Isra’: 29 - Dan janganlah engkau jadikan
tanganmu terbelenggu pada lehermu dan
jangan (pula) engkau terlalu mengulurkannya
(sangat pemurah) nanti kamu menjadi tercela
dan menyesal.
 Eg. Theft, extortion,
embezzlement of public
fund(pemerasan, penggelapan dana
UNLAWFU awam)

L WAYS OF
Misleading a person in
ACQUIRIN contract or ikrah
G
PROPERTY
Unlawful labor e.g
prostitution, black magic and
criminal activities
 Q&A SESSION /
ASSIGNMENT REVIEW