Qabd (possession)
Taking possession of an asset, actually or constructively, which many contracts require before the asset can be sold on.
Qabd is taking possession of an asset so that the new holder controls it and can deal in it. AAOIFI's standard on possession says the mode of possession depends on custom and on the nature of the thing, so it differs for land, goods sold by measure and currency. Possession matters because several rules depend on it: risk usually passes with it, and a buyer should take possession before selling goods on. In digital products, the event that evidences possession, such as a warehouse receipt, title transfer or account credit, should be recorded explicitly.
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This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.