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The framework of maqāṣid al-sharī’ah and its impact on waqf law and economy

In Islamic law, the endowment (waqf) is a significant institution devoted to allocating property for charitable purposes, funding social and religious initiatives like education, healthcare, and poverty alleviation. This study delves into the importance of Maqasid al-Shari’ah within the waqf system...

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Bibliographic Details
Main Authors: Owais, Mohd, Elshobake, Mohammed R M
Format: Book Chapter
Language:English
English
Published: Centre for Islamisation (CENTRIS), International Islamic University Malaysia (IIUM) 2024
Subjects:
BPH Islamic Economics
BPH741 Waqf
BPK Islamic law. Shari'ah. Fiqh
BPK125.2 Harmonisation of Shari’ah and law
BPK36 Islamic law (General)
K Law (General)
K85 Legal research
Online Access:http://irep.iium.edu.my/116805/1/Cover%20-%20THE%20FRAMEWORK%20OF%20MAQ%C4%80%E1%B9%A2ID%20AL-SHAR%C4%AA%E2%80%99AH%20AND%20ITS%20IMPACT%20ON%20WAQF%20LAW%20AND%20ECONOMY.pdf
http://irep.iium.edu.my/116805/2/Full%20Article%20-%20THE%20FRAMEWORK%20OF%20MAQ%C4%80%E1%B9%A2ID%20AL-SHAR%C4%AA%E2%80%99AH%20AND%20ITS%20IMPACT%20ON%20WAQF%20LAW%20AND%20ECONOMY.pdf
http://irep.iium.edu.my/116805/
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Summary:In Islamic law, the endowment (waqf) is a significant institution devoted to allocating property for charitable purposes, funding social and religious initiatives like education, healthcare, and poverty alleviation. This study delves into the importance of Maqasid al-Shari’ah within the waqf system and the economy. Maqasid al-Shari’ah, a foundational concept in Islamic jurisprudence, embodies the objectives of Islamic law, guiding its underlying principles and values across various domains, including economics, finance, and governance. According to the findings, waqf serves as a potent tool for fulfilling Maqasid al-Shari’ah, particularly in social welfare and economic development. This paper offers original insights into the developmental potential of waqf, contributing to the existing literature. Grounded in desk-based research, it adopts a doctrinal research paradigm to describe and analyse the relevant Islamic and legal rules from the primary and secondary sources. The exploration of Maqasid al-Shari’ah's influence on the waqf system, and the economy illuminates how it can advance individual and societal welfare. This paper enriches understanding the concept of Maqasid al-Shari’ah, its impact on the waqf system, and its potential for enhancing both individual and societal welfare.

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