Results 111 to 120 of about 429 (142)
Legal aspects and government policy in increasing the role of MSMEs in the Halal ecosystem. [PDF]
F1000ResHidayat Y +3 more
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Derivatives , Pricing Efficiency and Gharar : Evidence on Embedded Options in Malaysia [PDF]
Journal of Islamic Finance, 2014 Derivatives, despites their extensive usage as risk management tools, receive differing arguments among the Muslim scholars. Focusing on embedded option contracts, the resolution of Islamic Fiqh Academy, Jeddah No (63/1/7) under the financial markets considers the currently applied option contracts as different from the Shariah nominated contracts and ...
Razali Haron, Haron Razali
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Prohibition of Riba and Gharar: A signaling and screening explanation? [PDF]
Journal of Economic Behavior and Organization, 2014 Abstract The emergence of Islamic Banks (IBs) with Sharia boards that restrict the set of permissible products and enforce prohibition of riba and gharar raises basic questions about how IB clients benefit when choosing from a restricted menu of possibly higher-cost cash flows.
Nathan Berg, Jeong-Yoo Kim
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Prohibition of Riba and Gharar in Islamic Banking
2017Prohibition of Riba (interest), Gharar (uncertainty) and Maysir (gambling) are the fundamental principles of Islamic banking and key differentiators to differentiate it from conventional banking practices. Presence of these elements in financial transactions lead to excessive debt creation, speculation, negative growth and create large disparity ...
Lokesh Gupta +2 more
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An inquiry into the scope of ‘acceptable’ gharar
2018This chapter aims to review, from a trans-disciplinary perspective, the scope of acceptable gharar which is still controversial in the academic debate. It also aims to propose a trans-disciplinary theoretical framework of making a contribution to the Islamic legal debate on the scope of acceptable gharar. The chapter draws the wisdom of the prohibition
Mohammad Hashim Kamali +2 more
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Absurdity of Islamic Finance Law: The Case of Gharar and Maysir
SSRN Electronic Journal, 2021This manuscript contributes to Islamic studies literature, by critically assessing the current implications of the scriptural injunctions against gharar and maysir. It elaborates how overlooking the features of the contemporary world and adopting literal approach in Islamic jurisprudence have led to absurdity in application of doctrines of gharar and ...
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The impact of riba and gharar on arbitrability and arbitration agreements
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Gharar-Free ReBittance: Powered by Blockchain
2020ReBittance can be defined as remittance backed by Blockchain technology instead of a traditional model based on a centralized network. Blockchain technology facilitates the use of digital assets such as cryptocurrency to process payments using a unique, secured shared electronic ledger.
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An Economic Explication of the Prohibition of Gharar in Classical Islamic Jurisprudence [PDF]
Journal of Islamic Economic Studies, 2001 This paper presents an economic argument that the prohibition of Rib¯a in classical Islamic Jurisprudence can be explained by appealing to precommitment and economic efficiency considerations. Our starting point is an argument provided by ’Ibn Rush¯ d in Bid¯ayat alMujtahid wa Nih¯ayat al-Muqtas.id.
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TOWARDS AN OBJECTIVE MEASURE OF GHARAR IN EXCHANGE [PDF]
Journal of Islamic Economic Studies, 2000 This paper develops a framework for analyzing gharar based on economic aspects of game theory. The framework is consistent with Shari’ah maxims as well as individual gharar transactions widely studied in classical fiqh resources. In addition, the framework brings insights into explaining different fiqhi positions on controversial gharar contracts. When
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