What is the rule of haram?
Approved answer
Understanding the Concept of Haram
The term haram is derived from Arabic and signifies that something is forbidden or unlawful. In the context of Islamic finance, it is prohibited for Muslims to invest in, purchase, or participate in any transactions related to products and activities deemed haram, such as those associated with pork, alcohol, gambling, and pornography. Conversely, the term halal refers to what is permissible.