financial. islamic economics
- Business
Definition of Gharar and Examples of Gharar in Transactions
In the realm of Sharia-compliant business transactions, we approach each deal with utmost caution, ensuring a thorough review of terms and conditions before finalizing any agreement. One of the things that is prohibited in sharia transactions is to contain elements of Gharar. This is because gharar is an element that can cause losses to one party or both, for this…
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Why Should We Use Sharia Contract in Muamalah?
With a long history that dates back to Prophet Muhammad’s involvement in commerce at a young age, his example continues to serve as a model for ethical and successful business practices guided by Islamic principles. The concept of entrepreneurship is not a new concept, it has existed since the time of the Prophet Muhammad. Rasulullah himself is a very good…
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