Al-Maqāsid Al-Shar‘īyah and Substantive Principles of Islamic Sharī‘ah: Considerations for Islamic Finance Disputes and Sharī‘ah-Based Arbitrations
-
-
M.S. Abdel Wahab
Published 8 December 2021
Abstract
Over the past two decades, Islamic banking and financial products have exponentially grown at an accelerated pace and on a global scale. Disputes involving applicable Sharī‘ah principles to financial transactions have also proliferated and have been considered by both secular and Islamic tribunals/courts. That said this article aims at disambiguating the doctrine of Al-Maqāsid Al- Shar’īyah (objectives/aims of Islamic law) as a fundamental concept of Islamic law and finance. It also aims at analyzing some of the general legal maxims and jurisprudential principles of Sharī‘ah law. The importance of the doctrine of Al-Maqāsid Al- Shar’īyah and the jurisprudential principles of Sharī‘ah law transcends the boundaries of Islamic finance transactions and represents a fundamental tenet that guides any conducive Ijtihad (diligent research) across all aspects of Islamic law. This doctrine defines the philosophy underlying Islamic norms and principles and is undoubtedly crucial for arbitral tribunals when confronted with questions of Islamic Sharī‘ah and when asked to make determinations based on applicable Islamic legal principles.
To read this article you need to be a subscriber
Subscribe
Fill in the registration form and answer a few simple questions to receive a quote.
Subscribe now
Suggested Citation
M.S. Abdel Wahab (2021, forthcoming) "Al-Maqāsid Al-Shar‘īyah and Substantive Principles of Islamic Sharī‘ah: Considerations for Islamic Finance Disputes and Sharī‘ah-Based Arbitrations"
(TDM, ISSN 1875-4120) December 2021, www.transnational-dispute-management.com
Other recently published material:
Consequences of Not Regulating Third-Party Funding in Commercial Arbitration in Ecuador
24 March 2023
Transnational Investment State Arbitration: A New Game-Changer for Global Climate Change Goals
20 March 2023
Summary of Young-OGEMID Symposium No. 14: "International Arbitration and International Commercial Courts: Competitive or Complementary?" (March 2022)
3 March 2023
Compliance with the AfCFTA: Is There any Room for Hope?
1 March 2023
La protection de l'environnement dans l'accord créant la zone de libre-échange continentale africaine
27 February 2023
Complete listing of Advance publication.