ENTREPRENEURSHIP

Detailed explanation-1: -All business and trade practices that do not result in a free and fair exchange of goods and services are considered haram, such as bribery, stealing, and gambling. Therefore, all forms of deceit and dishonesty in business are prohibited in Islam.

Detailed explanation-2: -This meat is called “halal.” Muslims are also prohibited from gambling, taking interest, fortune-telling, killing, lying, stealing, cheating, oppressing or abusing others, being greedy or stingy, engaging in sex outside of marriage, disrespecting parents, and mistreating relatives, orphans or neighbors.

Detailed explanation-3: -These three elements were clearly stated in the Holy Quran regarding its prohibition. The prohibition of interest (riba), uncertainty (gharar) and gambling (maysir) that Muslims need to ensure to avoid from implement in any transaction they do.

Detailed explanation-4: -The giving and receiving of interest (riba), extremely risky investments, gambling, prostitution, and alcohol consumption are prohibited. The belief that trade is to be conducted in a faithful and beneficial manner and the principle of risk-sharing form the basis of Islamic business.