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The practices of Islamic finance in upholding the Islamic values and the Maqasid Shariah


Isa, Mohammad Yazid and Mohamed Naim, Asmadi and Hamid, Mohd Liki (2015) The practices of Islamic finance in upholding the Islamic values and the Maqasid Shariah. International Review of Management and Business Research, 4 (1). pp. 286-294. ISSN 2306-9007

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Abstract

This paper aims to analyse the views of Shariah scholars regarding Islamic values and objectives of Shariah (Maqasid Shariah) and to examine whether they are implemented in the construction of Islamic finance products.This paper employs written and face-to-face interviews using open-ended questionnaires to study the understanding of our respondents on the discussed matters. Questionnaires were distributed to several respondents from various Islamic financial institutions and universities in Malaysia. This study found that our respondents agreed on the importance of fairness, transparency and Maqasid Shariah in Islamic finance. However with respect to current Islamic finance practices, they opined that some banks did not uphold these values in their products and operations.

Item Type: Article
Uncontrolled Keywords: Islamic Finance, Islamic Banking, Values, Maqasid Shariah.
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
H Social Sciences > HG Finance
Divisions: Islamic Business School
Depositing User: Mr. Mohamad Yazid Isa
Date Deposited: 06 Sep 2015 02:30
Last Modified: 14 Apr 2016 04:12
URI: http://repo.uum.edu.my/id/eprint/15386

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