THE MAIN PROHIBITION In Islamic Economic - Islamic Economic Couse By Mr.Ahmad Syaiful Affa

Summary

This presentation from Group 11 discusses the key prohibitions in Islamic economics, focusing on five main topics: prohibition of gambling (maysir), uncertainty (gharar), usury (riba), other prohibited transactions, and the implications of these prohibitions on economic activities. The script explores the legal basis for these prohibitions, with references to Quranic verses and Islamic teachings. It also highlights how these prohibitions apply to various financial sectors, such as insurance, capital markets, and foreign exchange. The presentation concludes with the importance of a fair, interest-free Islamic economic system to ensure justice, transparency, and economic stability.

Takeaways

• 😀 The Islamic economy prohibits certain transactions to ensure fairness and justice, such as gambling (mesir), uncertainty (gharar), and usury (riba).
• 😀 Gambling (mesir) is defined as a transaction that benefits one party while harming the other, often linked to chance or fate.
• 😀 The prohibition of mesir is supported by Islamic teachings, and offenders can face punishment, including tazir (a corrective penalty).
• 😀 Common examples of mesir in conventional financial transactions include conventional insurance, forex trading, and gold exchange transactions.
• 😀 Gharar refers to uncertainty in transactions, where the terms or outcomes are unclear, potentially leading to unfair deals.
• 😀 Islamic law prohibits various forms of gharar, including vague agreements and transactions involving unknown or unclear objects.
• 😀 Specific prohibited types of gharar include selling goods without seeing them, selling goods that don’t exist, and using speculative price mechanisms in stock markets.
• 😀 Usury (riba) is forbidden in Islamic finance, as it involves charging excessive interest on loans, leading to injustice and inequality.
• 😀 Riba is categorized into two types: riba al-nasia (interest on delayed payments) and riba al-fadl (unequal exchange of goods). Both are prohibited.
• 😀 The prohibition of riba, mesir, and gharar aims to prevent economic exploitation, ensure fair wealth distribution, and promote transparency in financial systems.
• 😀 Islamic finance promotes justice, partnership, and social responsibility, emphasizing ethical trading and discouraging harmful speculation.

Q & A

What is the main focus of the presentation?

The main focus of the presentation is on the prohibitions in the Islamic economy, specifically the prohibitions of gambling (maysir), uncertainty (gharar), usury (riba), and other forms of prohibited transactions.

How is gambling (maysir) defined in Islamic terminology?

In Islamic terminology, gambling (maysir) is defined as a transaction made by two parties for the ownership of an object or service that benefits one party and harms the other, by linking the transaction to an uncertain event or outcome.

What is the legal basis for the prohibition of gambling (maysir) in Islam?

The legal basis for the prohibition of gambling (maysir) is found in the Quran, where the word 'maysir' and its derivatives appear in several verses, particularly in Surah Al-Baqarah (219), Surah Al-A'raf (19), and Surah Al-Ma'idah (90). These verses prohibit gambling due to the harm it causes.

What is the punishment for gambling offenders in Islamic law?

Gambling offenders are generally subject to tazir, which is a discretionary punishment used to prevent the offender from repeating the crime. This punishment is not strictly defined and can vary depending on the judge's decision.

What are the main elements that constitute gambling (maysir)?

The main elements of gambling (maysir) include the existence of a prohibition from the Quran, the presence of a behavior that constitutes the act of gambling, and the perpetrator being mukallaf (accountable).

How does uncertainty (gharar) affect transactions in Islamic law?

Uncertainty (gharar) in transactions is prohibited in Islamic law because it introduces ambiguity regarding the price, type, or delivery of goods or services. This leads to unfairness and injustice in trade.

What are some examples of transactions involving uncertainty (gharar)?

Examples of transactions involving uncertainty (gharar) include contracts where the object or the price of the commodity is unclear, selling goods that do not yet exist, or agreements that rely on speculative or risky outcomes.

What does usury (riba) refer to in Islamic finance?

Usury (riba) refers to the unauthorized addition to a loan, such as charging interest on debt or excess in buying and selling. It is forbidden because it leads to exploitation, injustice, and inequality.

How is usury (riba) prohibited in Islam?

Usury (riba) is prohibited in Islam because it causes harm by exploiting those in debt, and it is considered unjust. The prohibition is clear in the Quran and hadith, and Islamic scholars agree that any form of interest or additional charge on loans is haram.

What impact do the prohibitions of maysir, gharar, and riba have on the economy?

The prohibitions of maysir (gambling), gharar (uncertainty), and riba (usury) are intended to ensure fairness, transparency, and justice in the economy. These prohibitions prevent harmful speculation, reduce inequality, and encourage equitable distribution of wealth.