The Scientific of the Fundamentals of Maqasid in Islamic Financial Products Development

Wan Nazjmi Mohamed Fisol and Siti Hafsha Albasri

International Journal of Academic Research in Business and Social Sciences, 2017, vol. 7, issue 10, 683-692

Abstract: The objectives of Shari‘ah (Maqasid al-Shari‘ah) theory are the key to better understand the Shari‘ah in its true perspective. Hence, in order to obtain the clarity and visibility on the Maqasid al-Shari‘ah, this paper will explain the basis fundamentals of the Maqasid theory, which include the Islamic Financial transactions (Fiqh al-Mu‘amalat), fiqh maxims (Qawa’id alFiqhiyyah) and fiqh priorities (Fiqh al-Aulawiyyat) as a guideline for Shari‘ah scholars to arrive at a more precise ijtihad in their assessment of Islamic financial products development. Hence, this study give recommendation the distinctive fundamentals of Maqasid theory model should have an Islamic financial transactions (fiqh al-mu‘amalat), fiqh maxims (qawa‘id al-fiqhiyyah) and fiqh of priorities (fiqh al-aulawiyyat), in assisting the Shari‘ah scholars producing more appropriate ijtihad in Islamic banking and finance products matters.

Keywords: jtihad; Maqasid Al-Shari‘Ah; Islamic Financial Transactions (Fiqh Al-Mu‘Amalat); Fiqh Maxims (Qawa‘Id Al-Fiqhiyyah; Fiqh Of Priorities (Fiqh Al-Aulawiyyat); Islamic Financial (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hrmars.com/hrmars_papers/The_Scientific_of_ ... ucts_Development.pdf (application/pdf)
http://hrmars.com/hrmars_papers/The_Scientific_of_ ... ucts_Development.pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hur:ijarbs:v:7:y:2017:i:10:p:683-692

Access Statistics for this article

More articles in International Journal of Academic Research in Business and Social Sciences from Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences
Bibliographic data for series maintained by Hassan Danial Aslam ().