Another factor contributing to the impermissibility of this contractual stipulation is the potential profit or loss, which directly results from market fluctuat

Ibn Taymiyyah explained: "As for gharar, the basis of it is that Allāh has prohibited, in His Book, the consumption of people’s wealth unjustly. This prohibition encompasses all forms of unjust gain. The Prophet ﷺ forbade transactions involving gharar. Gharar refers to an outcome that is unknown or uncertain." (Majmūʿ al-Fatāwā, 22/29). The ḥadīth Ibn Taymiyyah cited is the narration collected by Muslim (1513) on the authority of Abū Hurairah -may Allāh be pleased with him- that the Messenger of Allāh ﷺ forbade the sale of pebbles and the transaction of gharar (uncertain transactions)." Based on this narration, the scholars have declared transactions involving gharar to be impermissible, except in specific circumstances, which do not apply to the scenario in question. Another concern is that the mechanism suggested to reduce risks raises issues of fairness and risk allocation. For instance, if the price to hire a ship decreases, Company A bears a loss as they must sublet at a lower rate. Conversely, if the price increases, Company B incurs additional costs. The idea that the company benefiting from market fluctuations compensates the one losing is problematic and creates an imbalance in risk-sharing. This agreement resembles gambling (maysir), where one party’s gain directly corresponds to the other party’s loss. The redistribution of profits based on market changes creates an unfair risk transfer, which is an essential characteristic of gambling. Islamic law emphasizes fair and equitable risk-sharing in contracts, and agreements that shift risks arbitrarily between parties are considered impermissible. Finally, if a contract or condition contradicts Islamic law, it is void, even if both parties agree to it. The mutual consent does not make what is unlawful permissible. This is supported by what was narrated by al-Bukhārī and Muslim from 'Āʾishah -may Allāh be pleased with her-, where the Prophet ﷺ said: "What is the matter with people who set conditions that are not in the Book of Allāh? Whoever sets a condition that is not in the Book of Allāh, it is not his, even if he sets it a hundred times." ------- Abū 'Aṭīyah 1/6/1446H.