Beruflich Dokumente
Kultur Dokumente
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ISLAM
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Aqidah
• Pillars of Iman
- Belief in ……………………
- Belief in ……………………
- Belief in ……………………
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Shariah
Shari'ah is an Arabic term which literally means “the way” or
“a path to a watering - place”, “a clear path to be followed”
and more precisely, “the way which leads to a source”.
• HablumminalLah
• Hablumminannas
al-ahkam al
I’tiqadiyyah
Pg 149
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Akhlaq
Human
Non-human
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Salient features of Shariah: Al-Quran
Rabbaniyyah (Divinely origin)
Waqi’iyyah (Realistic and Contemporary)
‘Aalamiyyah (Universal)
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Sunnah
Actions
Sayings
Tacit approval
S 59:7, S 4:59
Functions of Sunnah
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Qiyas
Pillars of qiyas:
1. Original case (asl)
2. New case (far’)
3. Effective cause (’illah)
4. Ruling (hukm).
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In the beginning around 720 AD to 850AD, the differences in Islamic
Law followed geographical regions:
During this time, only the jurists attached themselves to the teachers of
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Rule –making process in Islamic
Law (Ijtihad)
• Introduction
• The rule-making process in Modern Islamic Banking & Finance
Understanding/knowledge of
Shariah rulings relating to
human conduct derived from
their respective particular
Definition: evidences.
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Historical development
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Introduction to Fiqh and Usul fiqh
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Component of Fiqh
Feqh
Shariah Fiqh
• Divine • Combination of fixed
ruling and humanly
acquired through the
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“The very objective of the Shari'ah is to promote the
welfare of human beings, which lies in safeguarding their
Religion, Selves, Minds, Progeny and Wealth. Whatever
ensures and safeguards these five fundamentals serves
public interest and is desirable. Whatever hurts them is
against public interest and its removal is desirable.”
(Al-Ghazali, (1356/1937)
Dharuriyat – basic
necessities P3
Hajjiyat- Needs
Tahsiniyat - Embellishment
Figure 2.2 pg 41
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Shari’ah Framework for Islamic Finance
1. Matters are determined according to intentions.
2. Hardship begets facility.
3. Harm should not be inflicted nor reciprocated.
4. Certainty (yaqin) cannot be removed by doubt.
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Islamic financial system is trying to promote are maqasidic
approach whereby:
• public interest (maslahah) is promoted and harm
(mafsadah) is to be prevented;
• promoting productive activities and genuine trade and
business transactions that are related to the real sector
of the economy;