Concept of Maqasid Al-Syariah

1824 Words Apr 4th, 2012 8 Pages
Concept of Maqasid Al-Syariah

In directly meaning Maqasid Al-Syariah can be define as the objectives of Islamic law. However, in linguistic meaning Maqasid is define as follow, a goal or as an inspiration meanwhile Al-Syariah is define as the law that God reveal to Muhammad involving all aspects of life such as family institution, in finance or it can say the way of a Muslims live their life.

In together term Maqasid Al-Syariah carriers the meaning based on its constituent part, of the goal and objectives which are reason for legislation of the rule of Islam. As we known all law in Islam has wisdom behind them and not randomly legislated or without purpose. These terms are back bone to this concept. They are Illah and
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Type and categories of riba and gharar

The Islamic economic system as part of spiritual activities obtains its general rules from Al Qur’an and Sunnah. Therefore, its values consist of what is allowed and leaves out what is forbidden. Some values that are forbidden in Qur’an and Sunnah are Riba (Usury) and Gharar (Uncertainty). These values are the biggest differences between Islamic economics and Capitalism and Socialism economic systems. The following is the explanation of Riba and Gharar: A. Riba (Usury)

Riba is literally translated from the Arab language and means ‘an increase, growth, augmentation or accretion,’ (Khir, Gupta, & Shanmugam, 2008, p.28), and ‘addition and expansion,’ (Al-Harran, 1993, p.16) although not all of increasing is forbidden in Islam. And as syari’ah term, it means ‘the premium’ that is paid by the borrower to the lender together with the principal of loan due to some condition and because of its addition time to maturity (Chapra, 1992). According to this definition, many scholars agree that the riba refers to ‘interest’ used commonly in economic conventional system.
Types of Riba:

Scholars have divided riba into two types:
1. Riba Duyun.

This type of riba occurs in a loan or debt. Any kind of addition or increase above the amount of principal whether the addition or increase are inflicted by the lenders or willingness of the borrowers. Riba Duyun is divided in two
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