FatwaFederal TerritoriesTransactions & Finance
AL-KAFI #1859: SIAPAKAH YANG MENENTUKAN HARGA BARANG CAGARAN YANG DIJUAL - PENCAGAR ATAU PENERIMA CAGARAN?
Who determines the sale price of a pledged item when the debt cannot be settled, the pledger or the pledgee?
Short answer
The pledged item remains the property of the pledger, so its sale or auction price requires the pledger's prior permission and agreement.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Federal Territories Mufti Office
- Date
- Status
- Opinion (irsyad)
- Series
- Al-Kafi li al-Fatawi
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The pledged item remains the property of the pledger, so its sale or auction price requires the pledger's prior permission and agreement. This protects the pledger's interests from a hasty and careless sale. The pledgee's right is only to recover the debt from the sale proceeds. An exception applies if, from the start of the contract, the pledger handed the whole matter of selling the item over to the pledgee.
Written in our own words from the original fatwa — check the source before acting on it.
Harga bagi barang cagaran yang dijual atau dilelong perlu mendapat keizinan dan persetujuan daripada pencagar terlebih dahulu sebagai pemilik asal
Read the full fatwa on the Federal Territories website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Federal Territories Mufti Office. “AL-KAFI #1859: SIAPAKAH YANG MENENTUKAN HARGA BARANG CAGARAN YANG DIJUAL - PENCAGAR ATAU PENERIMA CAGARAN?”, 15 March 2022. https://muftiwp.gov.my/ms/artikel/al-kafi-li-al-fatawi/5162-al-kafi-1859-siapakah-yang-menentukan-harga-barang-cagaran-yang-dijual-pencagar-atau-penerima-cagaran. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/who-determines-price-of-pledged-item-sold/