Shari'ah Maxims and their implication on modern financial transactions

The practices of contemporary Islamic finance have been mounted with criticisms that are assumingly based on lack of incorporating the maqasid (goals and objectives) of Shari`ah and failure to extrapolate all sources available for ‘dynamising’ the Islamic legal theory and practice. Islamic legal max...

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Main Authors:	Ahmad, Abu Umar Faruq, Osmani, Noor Mohammad, Shahed, AKM Shahed, Karim, Fazlul
Format:	Article
Language:	English
Published:	Islami Bank Training and Research Academy, Dhaka, Bangladesh 2010
Subjects:	HG Finance KBP1 Islamic law.Shariah.Fiqh
Online Access:	http://irep.iium.edu.my/4248/ http://irep.iium.edu.my/4248/ http://irep.iium.edu.my/4248/1/Shariah_Maxims_and_Financial_Transactions.pdf

id	iium-4248
recordtype	eprints
spelling	iium-42482011-11-15T04:11:43Z http://irep.iium.edu.my/4248/ Shari'ah Maxims and their implication on modern financial transactions Ahmad, Abu Umar Faruq Osmani, Noor Mohammad Shahed, AKM Shahed Karim, Fazlul HG Finance KBP1 Islamic law.Shariah.Fiqh The practices of contemporary Islamic finance have been mounted with criticisms that are assumingly based on lack of incorporating the maqasid (goals and objectives) of Shari`ah and failure to extrapolate all sources available for ‘dynamising’ the Islamic legal theory and practice. Islamic legal maxims is one of the sciences which aphoristically subsume all the spectrums in which the purpose of Shari`ah is promoted. There are five basic Islamic legal maxims on which the tenet of Shari`ah is based. Some are of general application, while others apply to a particular area of Islamic Jurisprudence including fiqh al-mu`amalaat (the jurisprudence of financial transactions). One such maxim which is reflected in this notion is a particular activity is permissible unless there is a clear prohibition against it. The study is aimed inter-alia to address how the application of the legal maxims to financial transactions can be explored to respond to criticisms mounted about Islamic finance practices. Islami Bank Training and Research Academy, Dhaka, Bangladesh 2010-07 Article PeerReviewed application/pdf en http://irep.iium.edu.my/4248/1/Shariah_Maxims_and_Financial_Transactions.pdf Ahmad, Abu Umar Faruq and Osmani, Noor Mohammad and Shahed, AKM Shahed and Karim, Fazlul (2010) Shari'ah Maxims and their implication on modern financial transactions. Journal of Islamic Economics, Banking and Finance (JIEBF), 6 (3). pp. 75-104. ISSN 2070-4658 http://www.ibtra.com/journal_back_issue_individual.php?j_id=14
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance KBP1 Islamic law.Shariah.Fiqh
spellingShingle	HG Finance KBP1 Islamic law.Shariah.Fiqh Ahmad, Abu Umar Faruq Osmani, Noor Mohammad Shahed, AKM Shahed Karim, Fazlul Shari'ah Maxims and their implication on modern financial transactions
description	The practices of contemporary Islamic finance have been mounted with criticisms that are assumingly based on lack of incorporating the maqasid (goals and objectives) of Shari`ah and failure to extrapolate all sources available for ‘dynamising’ the Islamic legal theory and practice. Islamic legal maxims is one of the sciences which aphoristically subsume all the spectrums in which the purpose of Shari`ah is promoted. There are five basic Islamic legal maxims on which the tenet of Shari`ah is based. Some are of general application, while others apply to a particular area of Islamic Jurisprudence including fiqh al-mu`amalaat (the jurisprudence of financial transactions). One such maxim which is reflected in this notion is a particular activity is permissible unless there is a clear prohibition against it. The study is aimed inter-alia to address how the application of the legal maxims to financial transactions can be explored to respond to criticisms mounted about Islamic finance practices.
format	Article
author	Ahmad, Abu Umar Faruq Osmani, Noor Mohammad Shahed, AKM Shahed Karim, Fazlul
author_facet	Ahmad, Abu Umar Faruq Osmani, Noor Mohammad Shahed, AKM Shahed Karim, Fazlul
author_sort	Ahmad, Abu Umar Faruq
title	Shari'ah Maxims and their implication on modern financial transactions
title_short	Shari'ah Maxims and their implication on modern financial transactions
title_full	Shari'ah Maxims and their implication on modern financial transactions
title_fullStr	Shari'ah Maxims and their implication on modern financial transactions
title_full_unstemmed	Shari'ah Maxims and their implication on modern financial transactions
title_sort	shari'ah maxims and their implication on modern financial transactions
publisher	Islami Bank Training and Research Academy, Dhaka, Bangladesh
publishDate	2010
url	http://irep.iium.edu.my/4248/ http://irep.iium.edu.my/4248/ http://irep.iium.edu.my/4248/1/Shariah_Maxims_and_Financial_Transactions.pdf
first_indexed	2023-09-18T20:12:24Z
last_indexed	2023-09-18T20:12:24Z
_version_	1777407565090521088

Shari'ah Maxims and their implication on modern financial transactions

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