Selling something which has not yet been obtained. For example, selling eggs which have not yet been hatched.
a deceptive or unclear practice. The Arabic root means deception. The term cov-ers a range of unacceptable business practices which range from fraud, to market manipu-lation, to taking advantage of a consumer. For instance, any contractual situation in which one party stands to be disadvantaged due to ignorance or incomplete information is sub-ject to gharar, and not acceptable in the Sharia'a. Islamic protections against gharar are very similar to Western consumer protection statutes.
Uncertainty, hazard, chance or risk, ambiguity and uncertainty in transactions.
An exchange in which there is an element of deception, either through ignorance of the goods or the price, or through faulty description of the goods. For example, selling goods you are not in a position to deliver, such as a runaway horse, would be gharar.
Quick definition: uncertainty. Gharar is a conceptual term that refers to something that is not completely set in stone within a contract. Itï¿1/2s a fundamental disagreement between Islamic and conventional law and Islam does not recognise the need for related practices such as speculation, derivatives and short selling contracts. Islamic banking / Islamic financial services
Uncertainty. One of three fundamental prohibitions in Islamic finance (the other two being riba and maysir). Gharar is a sophisticated concept that covers certain types of uncertainty or contingency in a contract. The prohibition on gharar is often used as the grounds for criticism of conventional financial practices such as short selling, speculation and derivatives.