Gambling In Islam Research Paper

I. Permissible transaction

II. Non permissible transaction

Prohibition of riba Riba literally means excess, expansion, increase, addition or growth. Technically, riba could be defined as unlawful gain derived from the quantitative inequality of the counter-value in any transaction purporting to affect the exchange of two or more species which belong to the same genus and are governed by the same efficient cause. Deferred completion of exchange of such species may also amount to riba whether or not the deferment is accompanied by an increase in any one of the exchanged counter-values. Hence, riba is not restricted to increases in loan transactions due to deferment of time of payment, as it might also occur in any unjustified excess above

Maysir and Qimar are forms of gambling transactions that are considered as totally inequitable in Islam. Maysir refers to the easy acquisition of wealth by chance, whether or not it deprives the other’s right. Qimar means the game of chance in which one gains at the cost of others.

Even though, gambling consists in a form of speculation and that There should not be any place for commercial operations in Islam as it is purely speculative. The prohibited speculation under the Shari’ah is not that, which relies on the analysis of a lot of economic and financial data and which involves the investment of assets, skills and labour. Rather, it is one involving an effortless gain similar to a gambling scheme or activity. This is because the buyer is engaged in a transaction aimed at making profit through trading and not through dishonest appropriation of the property of others.

“O believers, wine and gambling (maysir), idols and divination by arrows are but abominations devised by Satan; avoid them so that you may prosper. Indeed Satan seeks to stir up enmity and hatred among you by means of wine and gambling and to keep you away from remembrance of Allah swt and form your