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Forum Forum IBF Net Classics Gharar in Mudaraba Reply To: Gharar in Mudaraba

  • Prof Mahmoud El-Gamal

    Guest
    December 19, 2021 at 3:16 pm

    @Mohammed Obaidullah PhD.
    Yes, even a cursory reading of Muslim scripture and scholarship will leave any fair reader with the impression that justice is the central organizing principle (as in the verse “God commands justice, goodness and generosity to kin; and forbids immorality, blameworthiness and oppression” (16:90)

    Ibn Rushd explained the Hanafi position on riba (which he favored even though he was Maliki) by an Aristotelian argument on justice in exchange… almost straight out of Nicomachean Ethics.

    Subjectivity is unavoidable, and it is why scholars of Muslim theories of justice have noted that the principle eventually reduces to procedural rule of law. The Prophet himself noted that disputants may differ in their argumentative skill and that he himself may make a wrong judgment, but then the one who gets more than his right should know that this is associated with sin… and God is the ultimate judge who knows all.