The Importance of Maqasid Al-Shariah in Islamic Finance. a Short Essay by Nadifa Abdulhalim Mohamed
INCEIF
The Global University of Islamic Finance
CERTIFIED ISLAMIC FINANCE PROFESSIONAL (CIFP)
Part One
SHARIAH ASPECTS OF BUSINESS AND FINANCE
Assignment Topic
The importance of Maqasid al-Shariah in Islamic Finance
June 2012 Semester
Lecturers: Dr. Yong Bao Wang Dr. Ahcene Lahsasna
Student Name: Nadifa Abdulhalim Mohamed Student ID: 1200331
Abstract
Maqasid Al-Shariah is one of the very important aspects in Islamic jurisprudence. Maqasid Al-Shariah is taking a crucial position in Ijtihad in order to process a valid examination of the text and provide intact interpretation to achieve the Islamic ruling. The aim behind that is to comprehend the Shariah in all aspects. The primary objective of Maqasid al-Shariah is the realization of benefit to the people, connecting their affairs both in this world and hereafter. It generally held that the Shariah in all of its parts aims at securing a benefit for the people or protecting them against corruption and evil. The aim of this paper is to elaborate the importance Maqasid al-Shariah in Islamic finance. The study found that Maqasid al-Shariah is the most important Shariah aspect in Islamic finance because protection of wealth is one of the five major elements of Maqasid al-Shariah.
Objectives of the research:
____________________________________________
• Definition of Maqasid Al-Shariah.
• Identification of the importance of Maqasid Al-Shariah in Islamic finance.
• Classification of Maqasid Al-Shariah
Key terms of the research:
1. Qur’an 2. Sunnah 3. Maqasid Al-Shariah 4. Islamic finance 5. Islamic law 6.Fiqh 7.Usulfiqh
TABLE OF CONTENTS
TOPIC PAGE NUMBER
[pic]
1. Abstract…………………………………………………………………………………. 1
2. Objectives of the research…………………………………………………………….. 2
3. Introduction………………………………………………………………………… 4 1.1 History and
The Global University of Islamic Finance
CERTIFIED ISLAMIC FINANCE PROFESSIONAL (CIFP)
Part One
SHARIAH ASPECTS OF BUSINESS AND FINANCE
Assignment Topic
The importance of Maqasid al-Shariah in Islamic Finance
June 2012 Semester
Lecturers: Dr. Yong Bao Wang Dr. Ahcene Lahsasna
Student Name: Nadifa Abdulhalim Mohamed Student ID: 1200331
Abstract
Maqasid Al-Shariah is one of the very important aspects in Islamic jurisprudence. Maqasid Al-Shariah is taking a crucial position in Ijtihad in order to process a valid examination of the text and provide intact interpretation to achieve the Islamic ruling. The aim behind that is to comprehend the Shariah in all aspects. The primary objective of Maqasid al-Shariah is the realization of benefit to the people, connecting their affairs both in this world and hereafter. It generally held that the Shariah in all of its parts aims at securing a benefit for the people or protecting them against corruption and evil. The aim of this paper is to elaborate the importance Maqasid al-Shariah in Islamic finance. The study found that Maqasid al-Shariah is the most important Shariah aspect in Islamic finance because protection of wealth is one of the five major elements of Maqasid al-Shariah.
Objectives of the research:
____________________________________________
• Definition of Maqasid Al-Shariah.
• Identification of the importance of Maqasid Al-Shariah in Islamic finance.
• Classification of Maqasid Al-Shariah
Key terms of the research:
1. Qur’an 2. Sunnah 3. Maqasid Al-Shariah 4. Islamic finance 5. Islamic law 6.Fiqh 7.Usulfiqh
TABLE OF CONTENTS
TOPIC PAGE NUMBER
[pic]
1. Abstract…………………………………………………………………………………. 1
2. Objectives of the research…………………………………………………………….. 2
3. Introduction………………………………………………………………………… 4 1.1 History and
References: 1. Dr. Ahcene Lahsasna (2011). Shariah Aspects of Business and Finance: INCEIF CIFP. Part 1, January Semester, 2012: Kuala Lumpur: International Centre for Education in Islamic Finance. 2. Dr. Ahcene Lahsasna (2011). Shariah Aspects of Business and Finance: INCEIF CIFP. Part 1, January Semester, 2012: Online Class Lectures. Kuala Lumpur: International Centre for Education in Islamic Finance. 3. Dr. Asyraf Wajdi Dusuki. “Challenges of realizing Maqasid Al-Shariah in Islamic Capital Market” 4. Dr. Mohammad Hashim Kamali. “Maqasid Al-Shariah: The objectives of Islamic law” ----------------------- The Global University of Islamic Finance