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Maqasid Ash-Shariʻah Framework and the Development of Islamic Finance Products: The Case of Indonesia

Tazkia Islamic Finance and Business Review

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Title Maqasid Ash-Shariʻah Framework and the Development of Islamic Finance Products: The Case of Indonesia
 
Creator Qoyum, Abdul; UIN Sunan Kalijaga Yogyakarta
 
Subject Maqosid al-Shariah Framework; Islamic Finance Product; Micro-Maqosid; Macro-Maqosid.
 
Description The objective of this research is to discuss the concept of Maqasid ash-Shariʻah as well as to propose new concept of Maqasid ash-Shariʻah framemork that will give many benefit in Islamic financial product development. Using a qualitative approach and using literature review, this study concludes that, the purpose of sharia can be in the form of micro and macro as well. Both of these goals must be able to be realized by Islamic finance, primarily through its  products. In order to realize these two objectives, the process of the development of Islamic financial products is not only the concern of the sharia council, but also involving microprudential and macropruedential authorities. Therefore, here, the process of establishing Islamic financial products may involve Bank Indonesia, OJK, LPS, as well as DSN. The big goal is that every product can actually generate maslahah, both at micro and macro levels.
 
Publisher Institute for Research and Community Empowerment (LPPM TAZKIA)
 
Contributor —
 
Date 2018-09-04
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://tifbr-tazkia.org/index.php/TIFBR/article/view/150
10.30993/tifbr.v12i2.150
 
Source Tazkia Islamic Finance and Business Review; Vol 12, No 2 (2018)
2460-0717
1907-8145
10.30993/tifbr.v12i2
 
Language eng
 
Relation http://tifbr-tazkia.org/index.php/TIFBR/article/view/150/130
 
Rights Copyright (c) 2018 Author and Publisher
http://creativecommons.org/licenses/by-nc-sa/4.0