Gharar in Islamic Banking - Meaning, Definition, Types and Example - AIMS Education

Gharar is an Arabic term that refers to uncertainty or risk. In the context of Islamic finance, Gharar is often used to describe financial contracts or transactions that involve a high degree of uncertainty or risk. For example, a contract that involves the sale of a product that has not yet been produced would be considered to be Gharar. Similarly, a contract that involves the sale of a product that is not yet known would also be considered to be gharar.

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