Is the use of "naqd" incense, which some claim expels devils, permissible in Islamic law?

There is no legitimate Islamic basis for hanging a horseshoe to ward off devils; rather, it is a superstition. Devils are repelled by the remembrance of Allah, the recitation of the Qur'an, and seeking refuge with the perfect words of Allah, such as saying: "I seek refuge in the perfect words of Allah from the evil of what He has created," or "In the Name of Allah, with Whose Name nothing on earth or in the heavens can cause harm, and He is the All-Hearing, the All-Knowing."