Risk in Islamic law and its impact on trade agreements

In our study, which aims to determine the place of risk in Islamic law of obligations, within this framework, the current conceptual structure of risk is revealed etymologically, and then its transformation that begins with the development of statistical studies is mentioned. The meaning of risk in the classical fiqh literature, an important source of Islamic law of obligations, is determined and a comparison is made with its present meaning. In this context, risk has been reinterpreted in terms of Islamic law of obligations by using the general principles of Islamic law of obligation in the classical fiqh literature and today's studies. As a result of this, the legitimacy ground of risk in contract theory has been determined. Finally, it has been discussed whether the covering of risk can be a subject of contract in terms of Islamic law of obligations. For this, the issue of covering the risk has been handled in the framework of the contract and property theory, which is obtained from the causal issues in the classical fiqh literature with the inductive method. In addition, named or anonymous contracts in Islamic law for the covering of risk are mentioned. The conclusion we have reached is that the covering of risk is the subject of a contract, and it can be done with new contract forms. Keywords: Risk, Islamic Law of Obligations, Insurance Contract, al-Mukhāṭarah, Trade Agreements