In this episode we put Sukuk advocates claim that it eliminates interest to the test.
Our investigation into whether sukuk charge interest will consist of answering two main questions:
1- Is financing being provided? If yes, then:
2- Is the financier contractually guaranteed to benefit in return for providing financing?
Maysir comes from the Arabic word “yisir” meaning ease. It is called this because it is associated with attempts to easily acquire wealth through games of chance.(1)
Identifying Maysir is not as easy as some make it out to be.
There are four elements that need to be taken into account when identifying Maysir:
S: The stakes
P: The probability for loss
A: Tendency to cause addiction
V: The value added to society