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Islamic Finance




Haram


The set of actions, sayings, contracts, transactions and other dealings that are explicitly denounced and deemed impermissible by Islamic shari’a. For example, all transactions that involve riba, excessive gharar (gharar fahish), maysir (gambling), asymmetric information, and manipulation, among others, are considered by shari’a lawful or permissible (haram- in Arabic script: حرام).

Haram is also known as ghair jaiz.



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