Islamic Finance

Charitable Wakaf

September 30, 2022
Accounting

Summary Financial Statement

September 30, 2022

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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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