Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia

The purpose of this chapter is to analyse the measures taken by Malaysian stakeholders in manifesting the concept of Islamic wealth management (IWM) throughout their Islamic financial services industry (IFSI) and the latest development in the Malaysian Islamic capital market (ICM). The analysis is m...

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Main Authors:	Mohd. Zain, Nor Razinah, Hassan, Rusni
Other Authors:	Haron, Razali
Format:	Book Chapter
Language:	English
Published:	IIUM Institute of Islamic Banking and Finance (IIiBF) 2019
Subjects:	B Philosophy (General) H Social Sciences (General) HG1501 Banking KBP Islamic Law KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning.
Online Access:	http://irep.iium.edu.my/73257/ http://irep.iium.edu.my/73257/1/73257_Islamic%20wealth%20management%20from%20a%20Maqasid-based.pdf

id	iium-73257
recordtype	eprints
spelling	iium-732572020-01-23T08:57:42Z http://irep.iium.edu.my/73257/ Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia Mohd. Zain, Nor Razinah Hassan, Rusni B Philosophy (General) H Social Sciences (General) HG1501 Banking KBP Islamic Law KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. The purpose of this chapter is to analyse the measures taken by Malaysian stakeholders in manifesting the concept of Islamic wealth management (IWM) throughout their Islamic financial services industry (IFSI) and the latest development in the Malaysian Islamic capital market (ICM). The analysis is made through a Maqāṣid based perspective. This is a conceptual research that depends on Islamic jurisprudential principles and legal doctrinal method where the legal sources are appreciated. At the same time, the reality of the IWM is traced throughout the IFSI and ICM in Malaysia. The research proposes that IWM needs to have holistic guidelines and policies which are consistent with the Maqāṣid-based perspective. This is important to ensure that the IWM is achieving the Sharī‘ah compliance in the wealth creation, wealth enhancement, wealth protection and wealth distribution. It is identified that the Malaysian regulator authorities in IFSI and ICM are efficient in promoting IWM. This is done either directly or indirectly by the selected stakeholders. Additionally, it is attributed to the strong Malaysian legal framework in IFSI and ICM. The authors propose a theoretical model in achieving the Maqāṣid al-Sharī‘ah. In following this research, the relevant stakeholders especially the regulatory authorities of IFSI and ICM will find that the Maqāṣid-based perspective is important in achieving the Sharī‘ah compliant in relation to IWM. The research will be effective in solving Sharī‘ah-compliant issues in relation to IWM. This research identifies the Maqāṣid based perspective in relation to IWM, with examples from a case study of Malaysia. IIUM Institute of Islamic Banking and Finance (IIiBF) Haron, Razali Abdullah, Adam 2019-08 Book Chapter PeerReviewed application/pdf en http://irep.iium.edu.my/73257/1/73257_Islamic%20wealth%20management%20from%20a%20Maqasid-based.pdf Mohd. Zain, Nor Razinah and Hassan, Rusni (2019) Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia. In: Islamic Fund and Wealth Management: A Way Forward. IIUM Institute of Islamic Banking and Finance (IIiBF), Kuala Lumpur, Malaysia, pp. 271-286. ISBN 978-983-44568-4-9
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	B Philosophy (General) H Social Sciences (General) HG1501 Banking KBP Islamic Law KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning.
spellingShingle	B Philosophy (General) H Social Sciences (General) HG1501 Banking KBP Islamic Law KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. Mohd. Zain, Nor Razinah Hassan, Rusni Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia
description	The purpose of this chapter is to analyse the measures taken by Malaysian stakeholders in manifesting the concept of Islamic wealth management (IWM) throughout their Islamic financial services industry (IFSI) and the latest development in the Malaysian Islamic capital market (ICM). The analysis is made through a Maqāṣid based perspective. This is a conceptual research that depends on Islamic jurisprudential principles and legal doctrinal method where the legal sources are appreciated. At the same time, the reality of the IWM is traced throughout the IFSI and ICM in Malaysia. The research proposes that IWM needs to have holistic guidelines and policies which are consistent with the Maqāṣid-based perspective. This is important to ensure that the IWM is achieving the Sharī‘ah compliance in the wealth creation, wealth enhancement, wealth protection and wealth distribution. It is identified that the Malaysian regulator authorities in IFSI and ICM are efficient in promoting IWM. This is done either directly or indirectly by the selected stakeholders. Additionally, it is attributed to the strong Malaysian legal framework in IFSI and ICM. The authors propose a theoretical model in achieving the Maqāṣid al-Sharī‘ah. In following this research, the relevant stakeholders especially the regulatory authorities of IFSI and ICM will find that the Maqāṣid-based perspective is important in achieving the Sharī‘ah compliant in relation to IWM. The research will be effective in solving Sharī‘ah-compliant issues in relation to IWM. This research identifies the Maqāṣid based perspective in relation to IWM, with examples from a case study of Malaysia.
author2	Haron, Razali
author_facet	Haron, Razali Mohd. Zain, Nor Razinah Hassan, Rusni
format	Book Chapter
author	Mohd. Zain, Nor Razinah Hassan, Rusni
author_sort	Mohd. Zain, Nor Razinah
title	Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia
title_short	Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia
title_full	Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia
title_fullStr	Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia
title_full_unstemmed	Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia
title_sort	islamic wealth management from a maqasid-based perspective: a case study of malaysia
publisher	IIUM Institute of Islamic Banking and Finance (IIiBF)
publishDate	2019
url	http://irep.iium.edu.my/73257/ http://irep.iium.edu.my/73257/1/73257_Islamic%20wealth%20management%20from%20a%20Maqasid-based.pdf
first_indexed	2023-09-18T21:43:52Z
last_indexed	2023-09-18T21:43:52Z
_version_	1777413319162855424

Islamic wealth management from a Maqasid-based perspective: a case study of Malaysia

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