Concept of Maqasid Al-Syariah

The Aqida al-Islam is the doctrines of Islam, expressing how a Muslim should live their life in the favour of Allah. The core beliefs of the Aqida al-Islam are expressed through the acts of the Arkan al-Islam, including; Shahada, Salat, Zakat, Sawm and the Hajj.(Morrissey, 2010, 109.)

Notably, as Muhammed standardized the Five Pillars of Islam for the “umma,’’ or community of faithful, multiplying followers stayed true to his legal doctrines. Ever since early Islam, the ‘’Sharia’’ stabilized the cults law, even if it combated Greek, Persian, and Indian nations. Along with cultural topics, the Sharia gave

Recent achievements in Islamic banking do not indicate an advance in the jurists interpretation of riba. Writings on riba have been extensively concerned with the expositions of riba, but with disquisitions about riba. Thought about riba, and any other Qur’anic penetrative codes, must be a story of movements in outlook and ever-changing ideas, and developments taking place in contemporary social sciences. Its province is destined by God, may he be exalted, in a way to be determined and re-determined in the course of time by drawing insights from different branches of human science. The subject of riba, and other divine codes in Qur’an regarding dealings and transactions is such that no cohesive delineation of the scope can be regarded as final.

632). This quote is quite important because Mir-Hosseini is trying to point out that there is not one but many interpretations of Islam. She sees that faith and organized religion are both interconnected but are not the same thing. “Faith includes the core values and principles while organized religion includes institutions, practices and laws” (Pg. 632). When these two categories are combined we are using them as religious reasoning behind committing acts of horrors and abuses not only against women but other minority groups. The journal also discusses the difference between sharia law and fiqh. Sharia is the law that was revealed by God to Prophet Muhammad meaning “the way” while fiqh is the understanding of

The unmentioned aspects are the parts that are open for interpretation, while the mentioned have definite meanings and are accepted by all. It is universally agreed upon by all Muslims, from many generations, that some Laws are apparent thus anyone who disputes those Laws is clearly wrong. All people seem to be united by the concept that certain Laws are indispensable and forever applicable, while others can be extended beyond just what is stated. The extensions of these Laws are also subject to criticism. Although interpretations are an option, the original idea of the Law must not be lost in the process of thought.

Similarly the selling of barley for barley is Riba except if it is from hand to hand and equal in amount, and dates for dates is usury except if it is from hand to hand and equal in amount.” (Umar). From an economical perspective, what the Prophet of Islam is referring to here is the idea that only the actual value of dates should exist in any trade transaction. For example, a bank giving out a loan for 100,000 dollars with an interest of 10% means that the 10,000 interest to be paid does not actually exist in the economy and hence to the prophet this is considered riba because the bank is gaining money out of nowhere. In the Sharia, the modern day solution to this banking issue is Islamic banking which offers; “..more just and equitable distribution of resources; more responsible and profitable lending due to the necessarily closer bank-client relationship; less volatile business cycles; and more stable banking systems.” (Evans, 1987)

For a long time, Arabic’s women have been seen as downtrodden people on a male chauvinist community, but not always were like that. In pre-Islamic Arabia, women's status varied widely according to laws and cultural norms of the tribes in which they lived. For example, in the prosperous southern region of the Arabian Peninsula the religious edicts of Christianity and Judaism held sway among the Sabians and Himyarites. In other places such as the city of Makkah (Mecca) -- where the prophet of Islam, Muhammad, was born—a tribal set of rights was in place. The Qur’an, which is from century VII, is highly specific as to women’s rights and men’s rights as an unbroken human, independent and believer of freedom.

Sharia law is an ancient compilation of religious rules that most Muslim nations seek reference in governing their people. Also defined as Islamic law, the essence of sharia laws emanated from the life of Prophet Mohammed known as the hadiths as well as the Quran teachings. The hadiths entail the vocal expressions of prophet Muhammad on divine life and his condemnation of immoral behavior that undermine the acceptable way of life. The teachings are accepted by the Muslim community who affirm that Muhammad’s teachings supplement the functionality of the Quran. On the other hand, the Quran, which forms the core reference on Muslim beliefs and regulations provides moral and spiritual guidance among the Muslims. It also dictates how the Muslims should interact with the non-Muslim community without contravening on the sharia doctrines (Hallaq 20-25).

The term 'Aqidah' is derived from the word 'aqad' which means a tie or knot. From the Islamic point of view, 'aqidah means a strong belief in Allah Almighty, Prophet Muhammad (SAW) and in the Hereafter in the heart of a person or a Muslim. 'Aqidah is the main foundation of Islam and the starting point to be a good Muslim. This is reflected in the activities carried out by the human. Basic 'Aqidah of Islam is six pillars or RUKN Iman or faith belief in God, the angels, the Divine Revelation, the Apostle, the afterlife and the Will of

Islam is not just a religion or system of theological thought, but it is the primary source for creating legal norms, guidelines, and demands in order to adhere and devote one’s life to Islam. Islamic doctrine delineates between acts of martyrdom and what the Western world describes as terrorism. Islamic jus in bello, or the laws of waging war, clearly outlines actions that can and cannot be justified according to Islam when engaged in war. Historical Islamic definitions of jihad in modern society have been redefined and interpreted in order to justify suicide attacks despite Islamic texts indicating otherwise.

No concept or application of interest rates, because interest or riba (in Arabic / Islam) is against the Shariah law (Sapp, 2010, p. 3)

The Islamic Conception of Justice (Khadduri, 1984) is a book that goes into great length not only about the details of the different terms

Becoming an expert in Islamic economics and finance field is one of my long-term goals in life. I started to organize and made a plan towards achieving that dream since senior high school. The concern towards Islamic economics and finance concept, and its application for society and the country began when I was reading a book entitled Islamic banking-theory and practice. After finishing reading the book, my interest in Islamic economic and finance topics rose and strengthen my own determination to become the expert of Islamic economics and finance. The main principle of Islamic economics and finance which offers the just and ethics in economic activity, poverty alleviation through income distribution mechanism, and prevention of economic and

Therefore, like other contemporary researchers of similar topics, I am going to use the expression Sharia Law to mean the old word: Fiqh.

The prosperity and peace of a society much or less depends on its economy. While for the smooth running of both, there are several instructions in Islamic Shariah and allows what is right and forbids what is wrong. When we talk about financial issues, Islamic Shariah strictly condemns Riba. The question may arise why Islam prohibits Riba? While it was already in practice before the advent of Islam and still it is a part of different economic systems throughout the world. It is simply because Islam gives respect to human beings and condemns all the attempts that are harmful and disgraceful for humanity. Therefore, Riba is not only forbidden in Islam but economic experts are also in search of its substitute. Since borrowing on interest rate creates several issues including: less efficient allocation of resources, indebtedness, unemployment and economic instability. While in society it causes injustices, inequity, poverty and imbalance etc. In this paper we are discussing how Riba causes imbalance in the society and instead Riba what Islam demands from its followers.