Maysir
Gambling or games of chance, where gain depends on luck rather than productive exchange; prohibited in Islamic finance.
Maysir refers to gambling: arrangements in which one party's gain comes from another's loss through chance, without a productive exchange. It is closely linked to qimar, games of chance, and regulatory texts such as Bank Negara Malaysia's list it alongside riba and excessive gharar as a core prohibition. The prohibition is one reason Islamic finance restricts speculative derivatives and conventional insurance structures.
Sources
This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.
Related terms
GhararExcessive uncertainty in a contract, about the object, price, quantity or delivery, which can make the contract invalid.RibaAn increase over principal that Shariah prohibits: extra stipulated on a loan, or an unequal exchange of certain like-for-like goods.TakafulMutual cover: participants contribute to a common fund, as donations, to help one another against specified losses.Tahawwut (hedging)Hedging; in Islamic finance, risk management transactions built from permissible contracts rather than conventional derivatives.