Maqasid al Shariah and Stakeholders’ Wellbeing in Islamic Banks: A Proposed Framework

Shafiullah Jan (), M. Fahad Siddiqi and Karim Ullah
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Shafiullah Jan: Assistant Professor, Institute of Management Sciences, Peshawar
M. Fahad Siddiqi: PhD Scholar, Institute of Management Sciences, Peshawar
Karim Ullah: Assistant Professor, Institute of Management Sciences, Peshawar

Business & Economic Review, 2019, vol. 11, issue 1, 83-102

Abstract: The extant literature describes and justifies stakeholders’ wellbeing as the essence of Islamic Banking and Finance (IBF). This infers the compulsion on Islamic banks to devise their operations based on inclusive wellbeing, and a greater perspective from the Maqasid al Shariah framework, and not merely converging on the compliance rulings. This paper presents a review and analysis of the present literature on Maqasid al Shariah and Stakeholders’ wellbeing and synthesizes a framework for gauging the theoretical association between the classical Maqasid al Shariah and Stakeholders’ wellbeing. The proposed framework can be used as a dependable framework for policy implication and future research in IBF. Moreover, concentrations of research efforts are identified from the present review and directions for future research are proposed.

Keywords: Public Wellbeing; Stakeholder’s wellbeing; Islamic Banks; Maqasid al Shariah (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bec:imsber:v:11:y:2019:i:1:p:83-102

DOI: 10.22547/BER/11.1.4

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