To know the reason why Gharar (risk or uncertainty) would be tolerated in some transactions, can be the base to modify Gharar-loaded contemporary transactions such as futures and options.After defining risk uncertainty and Gharar, which are found to be almost the same, we show that the...

A Sharia Compatible Future (SCF) is a contract that is designed to achieve the objectives of the conventional futures contract and to be in conformity with Islamic transaction restrictions, which means that the essence as well as the object of the contract must satisfy the Sharia code. This...