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نحو صيرفة إسلامية معقولة الأحكام
[Towards a rational Islamic banking]

Author

Listed:
  • Abozaid, Abdulazeem

Abstract

It is noticeable that some of the Ijtihad-based Shariah opinions governing Islamic banking and finance lack common sense and are void of any wisdom, despite the fact Islamic law of transactions is rationalized and meant to bring Maslaha and benefits to human beings. It is as if entering the field of Islamic banking and finance requires deactivating one’s mind, or as if the jurisprudence of banks today has become the same as the jurisprudence of devotional rituals in not being subject to ratiocination and its rules requiring mere submission. In light of the above, this article analyzes this unusual phenomenon in Islamic jurisprudence, and examines its effect on the contemporary Shariah opinions. This work is based on the assumption that re-visiting the legal opinions given on banking activities by subjecting them to Shariah objectives and rationale will open the mind on new aspects necessitating the revision of many of these contemporary rulings that govern Islamic banking practices.

Suggested Citation

  • Abozaid, Abdulazeem, 2015. "نحو صيرفة إسلامية معقولة الأحكام [Towards a rational Islamic banking]," MPRA Paper 92527, University Library of Munich, Germany, revised 2015.
    • Handle: RePEc:pra:mprapa:92527
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    More about this item

    Keywords

    Shariah objectives; Shariah rationale; Islamic finance; Islamic banking; Islamic law.;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • F0 - International Economics - - General
    • K0 - Law and Economics - - General
    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General

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