The Maqāṣid al-Sharīʿah and Islamic Finance Debate: The Underlying Philosophy and Perspectives of Sharīʿah Scholars

In: Arab Law Quarterly
Ahmed Mansoor AlkhanAssistant Professor, Department of Islamic Banking, University of Bahrain, Sakheer, Kingdom of Bahrain

Search for other papers by Ahmed Mansoor Alkhan in
Google Scholar
Download Citation Get Permissions

Access options

Get access to the full article by using one of the access options below.

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institution


Buy instant access (PDF download and unlimited online access):



Islamic finance is a system of finance that adheres to Sharīʿah rulings. The Sharīʿah consists of rulings where certain objectives are intended to be achieved through applying such rulings, known as maqāṣid al-sharīʿah. Since Islamic finance follows Sharīʿah rulings, this by extension means that Islamic finance should contribute in achieving certain maqāṣid. However, there has been a continued debate on whether Islamic finance has been realising/fulfilling relevant maqāṣid. The key question that arises is: if Islamic finance adheres to Sharīʿah rulings, which consists of rulings that are focused towards realising/fulfilling relevant maqāṣid, why is there a debate on Islamic finance realising/fulfilling those maqāṣid in the first place? This research delves into this question, by first exploring the philosophy of maqāṣid al-sharīʿah in relation to Islamic finance, and thereafter gains an insight into the minds of two contemporary Sharīʿah Supervisory Board scholars pertaining to the philosophy in question.

Content Metrics

All Time Past Year Past 30 Days
Abstract Views 910 495 77
Full Text Views 18 13 0
PDF Views & Downloads 49 33 0