Prohibited Economic Activities in Islamic Economics
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Questions and Answers

What is the significance of Gharar in Islamic transactions?

Gharar represents uncertainty or lack of knowledge in a transaction.

According to Islamic principles, what is the ruling on gambling?

Gambling games of chance or speculation are explicitly forbidden.

How does Islamic finance treat the trade of unlawful goods and services?

Islamic finance refrains from engaging in the trade of unlawful goods and services.

What are some examples of non-halal foods prohibited in Islam?

<p>Non-halal foods like pork and animals not slaughtered according to Islamic principles are prohibited.</p> Signup and view all the answers

Why does Islamic finance discourage the trade of tobacco-related products?

<p>The trade of tobacco-related products is discouraged due to their harmful health effects.</p> Signup and view all the answers

What term is used to describe uncertainty or lack of knowledge in a transaction, explicitly prohibited by the Prophet Muhammad (PBUH)?

<p>Gharar</p> Signup and view all the answers

Which Indian philosophy prohibits charging interest on loans?

<p>Hinduism</p> Signup and view all the answers

What Arabic term refers to obtaining value without earning it and is explicitly forbidden in Islam?

<p>Maysir</p> Signup and view all the answers

Which category of prohibited goods in Islamic finance is based on the principle of promoting modesty and prohibiting actions leading to indecency?

<p>Pornography</p> Signup and view all the answers

Which financial practice aimed at making gains through lucky chance or speculative means is condemned in Islam?

<p>Maysir (Gambling)</p> Signup and view all the answers

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