Abstract

This article attempts to elaborate the confusion in the terms risk and speculation by explaining the differences between the two, as well as the relationship between them.This article also explains the concept of classifying speculation into positive and negative and formulates and analyzes indicators of both. The research method used is a qualitative method with a comparative study approach. The data sources are classical books, journal articles, related dissertations, dictionaries, economic dictionaries and internet articles. The data collection and analysis are done deductively. The results of this study are: 1. There is a close relationship between risk and speculation. Speculation is sometimes used to mean risk (positive speculation), and sometimes it is used to mean negative speculation; 2. Positive speculation is speculation that has a small possibility of loss, occurs in derivative activities, contains large benefits, is harmless and does not contain elements of akl al-mal bilbathil;3. Negative speculation is speculation that has a large chance of loss, occurs in major economic activities, contains great danger, is not beneficial and contains elements of akl al-mal bilbathil. 4. Not all speculation is forbidden by Islam. Only negative speculation is forbidden.

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