Presenters: Sri Malika Sari, Mahardhika Cipta Raharja
Affiliation: UIN Prof. K.H. Saifuddin Zuhri Purwokerto
Room: 4 (Online)
ICIES News- At the 4th International Conference on Islamic Economics Studies (ICIES) 2024, scholars from UIN Prof. K.H. Saifuddin Zuhri Purwokerto presented their critical examination of the impact of gharar (excessive uncertainty) and maysir (gambling) on economic stability. The study, titled “A Critical Examination of the Influence of Gharar and Maysir on Economic Stability in the Context of Islamic Economics,” was delivered by Sri Malika Sari and Mahardhika Cipta Raharja.
The research delves into how Islamic economic principles, specifically the prohibitions of gharar and maysir, influence economic resilience and stability. Utilizing a qualitative research method with a literature review approach, the study analyzed secondary data from journals, books, and case studies.
Key findings from the presentation include:
- Gharar: Excessive uncertainty in transactions undermines market confidence, leading to economic instability. Uncertain and risky transactions can create volatility and reduce trust in financial systems.
- Maysir: Gambling practices divert resources away from productive sectors and lead to an unfair distribution of wealth. This misallocation of resources negatively impacts overall economic resilience and stability.
The research concludes that adhering to Islamic economic principles by avoiding gharar and maysir can significantly enhance economic stability and promote justice. The study provides valuable insights into how these principles can be applied to mitigate economic risks and improve resilience.
The presentation highlighted the importance of integrating Islamic economic principles into contemporary economic policies to foster a stable and equitable economic environment. The findings contribute to the broader Islamic economic literature by offering practical solutions to address the challenges posed by gharar and maysir.