Digital Gharar in Buy Now Pay Later (BNPL) and Consumer FinTech Services in Saudi Arabia: A Maqasid-Based Assessment Framework

Abstract

Consumer financial technology platforms can satisfy contractual requirements while presenting payment obligations through interfaces and automated decisions that complicate informed consent. Existing discussions of contractual uncertainty provide limited guidance for assessing these technologically mediated risks within Saudi Arabian deferred payment services. This paper develops an objectives-based framework for evaluating digital gharar in buy now pay later and consumer financial technology services. It uses conceptual theory synthesis and a critical reading of Islamic commercial jurisprudence, objectives of Islamic law, information asymmetry, consumer protection scholarship, and Saudi regulatory materials. No consumer sample or statistical analysis is employed. The analysis identifies four complementary dimensions: information transparency, behavioral fairness, algorithmic accountability, and Shariah compliance. These dimensions are elaborated through twenty conceptual indicators addressing disclosures, consumer autonomy, decision traceability, and alignment with the protection of wealth. The framework distinguishes digital uncertainty that merits further scrutiny from a definitive finding of legally prohibited gharar and specifies propositions for subsequent testing. Its contribution is an integrated assessment architecture connecting contractual analysis with the governance of digital interfaces and automated processes. The framework offers regulators and Shariah supervisory bodies a basis for platform reviews and future empirical validation.