EVALUATION OF GHARAR CRITERIA IN NEW TRANSACTIONS

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ALIZADEH ASL MOHAMMAD; MOOSAVIAN SEYYED ABBAS

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Journal Paper

Paper Information

Journal: ISLAMIC FINANCE RESEARCHES Year:2016 | Volume:5 | Issue:1 (9) Page(s): 5-36

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Information Journal Paper

Title

EVALUATION OF GHARAR CRITERIA IN NEW TRANSACTIONS

Author(s)

ALIZADEH ASL MOHAMMAD | MOOSAVIAN SEYYED ABBAS | Issue Writer Certificate

Keywords

GHARARQ3

AMBIGUITYQ2

IGNORANCEQ2

UNRELIABILITYQ1

RISKQ2

Abstract

Islamic Sharia has established a rule named " GHARAR " in order to back up and guarantee transactions and prevent loss or conflicts among those involved. This rule helps each trader or investor feel secure when entering into the transaction. The survey of religious books shows that there are different views about GHARAR criteria. Since financial markets face growing RISKs and uncertainty, providing clear criteria for GHARAR can prevent people from entering into transactions with unacceptable RISKs or the ones considered to be void. The concept of GHARAR is a challenging one due to its various definitions and criteria presented by jurists. Some of these have pointed out IGNORANCE in a contract and others have focused on the IGNORANCE which leads to danger or RISK. This study used descriptive and analytical methods to offer both the literal and technical definition of GHARAR together with its criteria in new transactions. It has also categorized the opinions of jurists and planned an interview with contemporary jurisprudents. The aim is to provide a clear benchmark for distinguishing between GHARAR in new transactions and those with high RISKs.

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APA: Copy

ALIZADEH ASL, MOHAMMAD, & MOOSAVIAN, SEYYED ABBAS. (2016). EVALUATION OF GHARAR CRITERIA IN NEW TRANSACTIONS. ISLAMIC FINANCE RESEARCHES, 5(1 (9) ), 5-36. SID. https://sid.ir/paper/254973/en

Vancouver: Copy

ALIZADEH ASL MOHAMMAD, MOOSAVIAN SEYYED ABBAS. EVALUATION OF GHARAR CRITERIA IN NEW TRANSACTIONS. ISLAMIC FINANCE RESEARCHES[Internet]. 2016;5(1 (9) ):5-36. Available from: https://sid.ir/paper/254973/en

IEEE: Copy

MOHAMMAD ALIZADEH ASL, and SEYYED ABBAS MOOSAVIAN, “EVALUATION OF GHARAR CRITERIA IN NEW TRANSACTIONS,” ISLAMIC FINANCE RESEARCHES, vol. 5, no. 1 (9) , pp. 5–36, 2016, [Online]. Available: https://sid.ir/paper/254973/en

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