Explanation:

- Competent Donor: In Hiba, or an Islamic gift, the donor must be competent, meaning they should be an adult and of sound mind to make the gift valid.

- Donee: This refers to the recipient of the gift. A donee must be identifiable and capable of owning what is given.

- Consideration: Hiba is unique in that it doesn't require consideration. The gift is given freely without expecting anything in return. Answer: Consideration is not essential.

- Ownership on subject: The donor must own the subject matter of the gift and have the right to transfer it.