Sheikh `Abd al-Rahmân al-Barrâk
It says in Qur’ân that Allah withholds (yaqbid) from whomever He wills and that he reaches out (yabsut) with his providence to whomever He wills and that He is capable of doing that. Allah says: “Nay, both His hands are widely outstretched” [Sûrah al-Mâ’dah: 64] and says: “Who is he that will loan to Allah a beautiful loan, which Allah will double unto his credit and multiply many times? It is Allah that gives (you) want or plenty, and to Him shall be your return” [Sûrah al-Baqarah: 245].
When prices skyrocketed in Madinah, people came to the Prophet (peace be upon him) and asked him to impose price controls. The Prophet (peace be upon him) said: “Allah is the One who prices things, He is the withholder (al-Qâbid) amd the One Who Reaches Out (al-Bâsit).”
From these texts we consider that the name “al-Bâsit” and its opposite “al-Qâbid” to always come together to convey a single, comprehensive meaning. Therefore, it is best to mention them together and not to mention either one of them by itself. For this reason, it is preferable not to call people by names such as `Abd al-Bâsit or `Abd al-Qâbid, but, instead, we should rather use other names such as `Abd al-Razzâq ,`Abd al-Wahhâb or `Abd al-Wâsi`.
It seems that the above two names al-Qâbid and al-Bâsit are indeed mentioned in the list of Allah’s beautiful names, but the narration of this list is not authenticated by the people of knowledge. Names cannot be used without evidence from the Qur’ân or Sunnah.
And Allah knows best.
Source: Islam Today