Continuation
The
author continues:
These
instruments (futures, forwards and other derivatives) are also subject to the
prohibition on maysir.
Thus,
maysir condemns the speculative exploitation of legal uncertainty.
Actually,
legal uncertainty draws an unjustified (because it is unfair) advantage.
In
addition, speculation (maysir) is seen as diverting resources from productive
activities.
Gharar
and maysir render a contract:
o
null;
o
and void
However,
there can be some exceptions to the above described general principle.
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria,
L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
No comments:
Post a Comment