Munich Personal RePEc Archive

نحو صيرفة إسلامية معقولة الأحكام

Abozaid, Abdulazeem (2015): نحو صيرفة إسلامية معقولة الأحكام. Published in: Al-Tajdid , Vol. 19, No. 37 (2015): pp. 14-44.

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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.

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