Group Members

Urooj Fatima
Wajiha Afzal
Sadaf Iftikhar
Nazia javed
Amna Mansha
Shariah Prohibitions
 What is shariah?

Islamic law/shariah is a set of religious principles

which form part of the Islamic culture.it is
derived from the religious precepts of Islam,
particularly the Quran and the Hadith.
 Shariah Prohibitions
o Riba (interest)
o Gharar (over-speculation)
o Qimar / Maysir (Games of chance ,Gambling)
o Rishwa (corruption)
o Jahl (ignorance)
 What is Riba (interest)?
Meaning
Riba literally means increase, addition
expansion or growth.
Definition
Unjustified increment borrowing or lending
money, paid in kind above the amount of loan,
as a condition imposed by the lender or by the
borrower
 Reasons behind prohibition of Riba
• The wealth will get the return without any risk
0r effort.
• Riba is a cause of injustice and exploitation.
• Discourage productive work
• In principles of Islamic banking, taking
advantages of the issues that other are facing
is unjust.
 Gharar (over-speculation)
Definition:
Gharar is an Arabic word that is
associated with uncertainty, deception and risk
that might lead to destruction or loss.
The Gharar exist when a contract does not have
clarity in its essential elements.
Example:
Sale of birds in the air
Sale of fish still in sea
 Reasons behind prohibition of Gharar
• Gharar may lead to injustice, exploitation and
enmity among contracting parties
• To ensure full consent and satisfaction of both
parties in a contract
• Contract will not valid without full consent.
• Contract valid if certainty, full knowledge and full
disclosure
 Maysir (gambling)
Definition
Also known as qimar. literally means
gambling , games of chance. Maysir refers to the
easy acquisition of wealth by chance, whether
or not it deprives the other’s right.
Example:-
lotteries, illegal racing…
 Reasons behind prohibition of
Maysir/Qimar
• Maysir is another prohibition which refers to
gambling or games of chance.
• In Islam, the acquisition of wealth through evil
means or participation in gambling is
prohibited.
• It will protect the Muslims from the
conventional insurance products because that
is a type of gambling.
 Rishwah (corruption)
• Rishwah is also known as AL-Riswah
• “an offer or promise of whatever nature given to
someone in order to influence him or persuade
him to do something which is unlawful”
• Riswah is dishonesty
• The Prophet has warned: There will come the
period when bribe will be made lawful by people
through gifts, and murder through adminitions.”
 Jahl (Ignorance)
• Definition :
Vagueness in a contract or
non-clarity about the parties or their rights and
obligations and the goods or the
price/consideration.
It is necessary to have
everything clearly defined :
the buyer must know about the price and
conditions of goods
and the seller should be aware of time and place
of the delivery.
But some time when seller and buyer enter
into a contract they ignore to decide some terms
and conditions.
 Reasons behind prohibition of Jahl

• It leads to make wrong decisions.

• It may leads to injustice.
• Also there is exploitation of right of one of
the parties because one party has more
information about the product to take
advantage of other.