History of Islamic public finance: gharar and risk aversion
Gharar is usually examined in the literature from the perspective of modern Islamic private finance. In this article, I will focus on public finance and try to explain how this important concept found and application in history. It is a concept that has a long history, and was embedded in Islamic jurist work over centuries of commnets and interpretations.
Islamic public finance , Gharar , Risk , History
Cizakca, Murat. (2012). History of Islamic public finance: gharar and risk aversion. In Mohamed Ariff, Munawar Iqbal & Shamsher Mohamad (Eds.), The Islamic debt market for sukuk securities: the theory and practice of profit sharing investment (pp. 86-96). Cheltenham, Glasglow: Edward Elgar Publishing Limited.
Edward Elgar Publishing Limited