Reasons on the similarity of objections with regards to gambling and speculation in Islamic finance and conventional finance.
Gambling and speculation which leads to zero-sum outcomes are prohibited in Islamic finance and condemned in conventional finance. This article explores the reasons for the similarity of objections towards gambling and speculation. Three probable reasons are explored namely the concept of stewardship in conventional thought and the concept of khalifa in Islam, Christianity and morality's influence on conventional law and finance and the concept of ethics of sacrifice and ethics of tolerance.
International Shariah Research Academy (ISRA), 2nd Floor, Annexe Block, Menara Tun Razak, Jalan Raja Laut, Malaysia. sherin@isra.my
Sherin
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Kunhibava
D002835:Christianity; D003466:Cultural Characteristics; D005376:Financial Management / Q000941:ethics*; D005715:Gambling / Q000191:economics* / Q000208:ethnology*; D006801:Humans; D007514:Islam; D008019:Life Style; D012069:Religion and Psychology; D012072:Religious Philosophies; D012945:Social Values / Q000208:ethnology