Purpose

This study aims to systematically review the literature on modern Islamic finance transactions pertaining to Gharar dimensions. Gharar is defined as uncertainty that potentially leads to ambiguities and conflicts in contracts.

Design/methodology/approach

The articles reviewed in this study consisted of 13 articles related to Gharar published between 2013 and 2022. All selected articles were empirically and descriptively searched using specific keywords and strings. The main sources for this study were Scopus and Web of Science (WoS), whereas Google Scholar was a supportive database.

Findings

The review found that the dimensions that discussed previous research were trying their best to elaborating Gharar in modern financial transactions. They also demonstrate that rigorous study and deployment of the definition remain in the context defined by jurisprudence scholars. The focus of recent studies pertaining to Gharar is derivatives products that indicate high possibility of uncertainty in its operation.

Research limitations/implications

This method relies heavily on the accessed database, namely, Scopus and WoS, also referred to the articles as recommended by the databases. Furthermore, the criteria of inclusion and exclusion of papers outlined by the authors deemed as an intrinsic limitation in writing systematic literature review.

Originality/value

To the best of the authors’ knowledge, this paper is original in its nature whereby the scholars had different comprehension on how Gharar exists in transaction but they still centred in its original meaning of uncertainty. As a result, this paper also realized how Gharar were interpreted differently relied on the contract’s nature and behaviour. In addition, this paper is expected to contribute to understand how Gharar been interpreted in modern finance transactions and finally reached to the point that further research is needed in establishing Gharar parameter for each contract in Islamic commercial law.

中文翻译：

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现代伊斯兰金融交易中的加拉尔维度述评

目的

本研究旨在系统回顾与加拉尔维度相关的现代伊斯兰金融交易文献。加拉尔被定义为可能导致合同含糊不清和冲突的不确定性。

设计/方法论/途径

本研究回顾的文章包括2013 年至 2022 年发表的13 篇与Gharar相关的文章。所有选定的文章均使用特定关键字和字符串进行实证和描述性搜索。这项研究的主要来源是 Scopus 和 Web of Science (WoS)，而 Google Scholar 是一个支持数据库。

发现

审查发现，先前研究讨论的维度都在尽力阐述现代金融交易中的加拉尔。他们还表明，对该定义的严格研究和部署仍然处于法理学学者定义的背景中。最近有关Gharar的研究重点是衍生产品，这些产品表明其运营存在很大的不确定性。

研究局限性/影响

该方法很大程度上依赖于所访问的数据库，即Scopus和WoS，也参考了数据库推荐的文章。此外，作者概述的论文纳入和排除标准被视为撰写系统文献综述的内在限制。

原创性/价值

据作者所知，这篇论文本质上是原创的，学者们对Gharar如何在交易中存在有不同的理解，但仍然集中在其不确定性的原始含义上。因此，本文还认识到如何根据合同的性质和行为对Gharar进行不同的解释。此外，本文预计将有助于理解现代金融交易中如何解释Gharar，并最终达到需要进一步研究为伊斯兰商法中每份合同建立Gharar参数的程度。