sohaib Sohail Answered question November 22, 2024
When considering an investment involving uncertainty or speculation, a Muslim should:
- Evaluate for Gharar (Uncertainty): Determine if the investment involves excessive uncertainty (gharar), as this is prohibited. Islam encourages transparency and clear terms in business dealings.
- Avoid Speculative Ventures: Ensure that the business does not rely heavily on speculation or derivatives, as such activities are generally impermissible due to their high-risk nature .
- Seek Shariah-Compliant Alternatives: Consult with a scholar or financial advisor knowledgeable in Islamic finance to confirm that the business aligns with Islamic principles and does not involve haram elements like interest or gambling.
Taking these steps can help ensure that their investment is both profitable and permissible under Islamic law.
Asad Salam Answered question November 2, 2024