Gambling, or *maysir* in Arabic, is unequivocally prohibited in Islamic finance. This prohibition stems from the core principles of Islamic law (Sharia), which emphasize fairness, risk-sharing, and the avoidance of unjust enrichment. The Quran explicitly condemns gambling alongside intoxicants, idolatry, and divination as “an abomination, of Satan’s handiwork.” (Quran 5:90). The reasoning behind this prohibition is multifaceted. Firstly, gambling relies heavily on chance and speculation (*gharar*), which Islamic finance actively seeks to minimize. Transactions should be based on tangible assets or services with a clear exchange of value, not on uncertain outcomes dependent on luck. Secondly, gambling promotes the acquisition of wealth without effort, undermining the Islamic emphasis on honest labor and productive economic activity. It encourages a “get rich quick” mentality that can lead to laziness, dependency, and social inequality. Islamic finance, in contrast, promotes entrepreneurship, investment in productive assets, and the creation of genuine wealth. Thirdly, gambling can be highly addictive and financially destructive, causing individuals and families significant harm. The Quran emphasizes the preservation of wealth and the avoidance of activities that could lead to its loss or destruction. Islamic finance prioritizes responsible financial behavior and encourages savings and investment rather than reckless spending. Furthermore, the winner in gambling gains an unfair advantage at the expense of the loser, creating an imbalance in wealth distribution. Islamic finance promotes social justice and equitable distribution of resources, seeking to avoid situations where one person benefits unfairly from another’s loss. Islamic finance offers alternatives that adhere to Sharia principles while providing opportunities for investment and financial growth. *Mudarabah* (profit-sharing), *Musharakah* (joint venture), and *Sukuk* (Islamic bonds) are examples of Sharia-compliant financial instruments that allow for risk-sharing and profit generation without resorting to gambling. These instruments are based on real economic activity, with profits and losses shared proportionally between the parties involved. The prohibition of gambling in Islamic finance is therefore not merely a religious decree but a reflection of a broader commitment to ethical, sustainable, and socially responsible financial practices. It aims to create a financial system that promotes fairness, justice, and the well-being of society as a whole, discouraging speculation and encouraging productive economic activities that benefit everyone. By adhering to these principles, Islamic finance seeks to provide a viable and ethical alternative to conventional finance, avoiding the harmful consequences associated with gambling and promoting a more just and equitable economic system.
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