SOLUTION! Hello, I am looking for someone to write an article on Gharar in Islamic Law. It needs to be at least 2250 words.

Article Writing

Hello, I am looking for someone to write an article on Gharar in Islamic Law. It needs to be at least 2250 words. Another major contribution of the Islamic banks is that being under supervision of their Shariah Boards they presented a wide range of questions concerning modern business to Shariah Scholars, hence, providing them an opportunity to understand the contemporary business practice and trade but also to evaluate it in the light of Shariah and to find out other alternatives which may be acceptable according to the Islamic principles (Vogel and Samuel, 1998). Islamic Laws Islam is a complete code of life and encompasses everything in life. It influences families as much as international relations and certainly includes all financial matters. It sources are the Quran and the Sunnah and the consensus of the opinion of the great jurists and interpreters of Islamic Law. If none of cited provide guidance on a particular matter then there is qiyas or analogy by which jurists and scholars compare an issue of today with a similar one described in the Quran or Sunnah and draw conclusions from the principles involved (Usmani, 2001). In all mattes of finance, the essence of Islamic law is perhaps based on a verse from the Quran that says “Do not usurp one another’ possessions”. The object of Islamic finance is to eliminate injustice and exploitation in financial dealings and to create an equitable distribution of wealth by encouraging effort and mutual co operation. It is believed that this, in turn, will increase productivity and goodwill, alleviate economic hostility and inspire all the members of a society with a feeling of having common economic goals (Al-Qardawi, 2001). However, because the law is derived from writings that predate modern life, the interpretations can be difficult. In the finance sector, banks appoint Shariah boards to consider transactions that the bank wishes to engage in and decide whether they meet the Shariah requirements. However, boards in different banks may often come to different conclusions (Obaidullah, 2005). Almost all transactions entered into by banks are based on legal contracts that conform to local law (or in many cases, English Law) and often add Shariah compliance as an additional requirement. This has not proven to be an easy legal basis for business, although only a few cases have come to the courts, the courts have ruled that only one law can be applied (Ghafoor, 1995). London Rulings Two cases are worth studying a) Islamic Investment Company of Gulf Ltd v Symphony Gems & others (London High Court 13.02.02) b) Beximco Pharmaceuticals Ltd & others v Shamil Bank of Bahrain EC (Royal Courts of Justice, London 11 & 12 December, 2003) In the later case, the banking expert on Islamic Law and former director, Center of Islamic and Middle Eastern Law on the invitation of the court gave following observations (Usmani, 2001): The precise scope and content of Islamic Law in general, and Islamic banking in particular are marked by a degree of controversy within Islamic world, best exemplified by the fact that the actual practice of Islamic banking differs widely within the Islamic world (Usmani, 2001). In the absence of any agreement on the boundaries of Islamic Banking or indeed on what ought to be the precise ingredients of a Morabaha agreement, it is in practice up to the individual banks to determine the issue.

Haven’t Found The Relevant Content? Hire a Subject Expert to Help You With
SOLUTION! Hello, I am looking for someone to write an article on Gharar in Islamic Law. It needs to be at least 2250 words.
Post Your Own Question And Get A Custom Answer
Hire Writer

Written Assignments
Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Why Choose Us?

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Written Assignments has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keeps up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention to deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Written Assignments, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email:

Try it now!

Order Now to Get 20% Discount

We'll send you the first draft for approval by at
Total price:

How our best essay writing service works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Written Assignments has stood as the world’s leading custom essay writing paper services provider. Once you enter all the details in the order form under the place order button, the rest is up to us.


Cheapest Essay Writing Service

At Written Assignments, we prioritize all aspects that bring about a good grade such as impeccable grammar, proper structure, zero plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.


Admission and Business Papers

Be assured that you’ll get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.


Editing and Proofreading

Our skilled editing and writing team will help you restructure your paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.


Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as many details as possible in the place order section.