What is the term for excessive uncertainty or ambiguity within a contract, generally prohibited in Islamic financial transactions?

Explanation

– Gharar refers to excessive uncertainty or ambiguity within the terms of a contract, a condition generally prohibited in Islamic financial and commercial transactions.
– This principle aims to ensure fairness and transparency between parties, preventing exploitation that could arise from unclear or ambiguous contractual conditions.
– For exams, note that Maysir refers separately to gambling or games of pure chance, which are similarly prohibited within Islamic financial and social conduct.