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Riba and Gharar in Islamic Finance by KAINAT YASEEN is a document available to read on EtoBox.

What is Riba and Gharar in Islamic Finance about?

Riba and Gharar are prohibited in Islamic finance. Riba refers to interest from loans and includes interest charged on bank deposits, loans, and bonds. Shariah prohibits Riba in order to prevent injustice and concentration of wealth. Gharar refers to uncertainty or risk in contracts and includes sales with unclear terms. Major types of Riba and examples of prohibited contracts with Gharar are described. The document also discusses arguments in favor of interest and rebuttals based on Islamic principles.

Author

KAINAT YASEEN

Language

EN