Industry WIKI

Gharar (Arabic: غرر) literally means uncertainty, hazard, chance or risk. It is a negative element in mu'amalat fiqh (transactional Islamic jurisprudence), like riba (usury) and maisir (gambling).

The qirad (also known as Muqaradah by Hanafi and Hanbali scholars) was one of the basic financial instruments of the medieval Islamic world. It was an arrangement between one or more investors and an agent where the investors entrusted capital to an agent who then traded with it in hopes of making profit. Both parties then received a previously settled portion of the profit. The agent

Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty).