Naqd (cash payment)

Naqd, in the lexicon, is cash, the opposite of deferred payment; it means handing over money in coin, telling good coin from bad, and the coinage of gold, silver or other currency. ^{1 2}

Cash in the sense of immediacy: an agreed term must be kept; gold for gold or silver for silver requires cash on both sides, and most jurists require cash for salam. ^{2 3} Sale of a debt: allowed to the debtor if the price is paid before the parties part. Blood money for unintended killing is paid by the kin in instalments over three years. ^{3 4} Option period: the buyer need not pay; the Malikis treat a condition to pay as invalidating some contracts. ^{4 5} Cash as delivery and the option to pay: the Hanafis and Hanbalis allow an option to pay, the Malikis and the sounder Shafi'i view do not. ^{5 6} Assaying: a trader should learn to tell good coin from false; the assayer's fee falls on the buyer (Hanafis and Malikis), the seller (Shafi'is) or the one who pays (Hanbalis). ⁶