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The objectives of Islamic banking: a maqasid approach

Mohammed, Mustafa Omar (2009) The objectives of Islamic banking: a maqasid approach. In: IIiBF Series in Islamic Banking and Finance: 1. IIUM Institute of Islamic Banking and Finance, Kuala Lumpur, pp. 243-268. ISBN 9789834456801

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What should the objectives of Islamic Banking (IB) be? Unfortunately, no serious effect has been made to address this question. It has never been discussed formally. What can be seen in many literatures are scanty and disjointed discussions about avoiding riba. The absence of a careful study on the objectives of IB has resulted in misinformation and misgivings about the primary reasons for the existence of Islamic banks. As a results, most Islamic banks shy away from specifying the objectives of their establishment. This paper therefore aims at identifying the ideal objectives of IB from the theory of Maqasid al-Shari'ah and, proposes a need to develop a model of IB performance measures based on these objectives.

Item Type: Book Chapter
Additional Information: 1957/7336
Uncontrolled Keywords: Maqasid al-Shari'ah, Islamic banking,
Subjects: H Social Sciences > HG Finance
H Social Sciences > HG Finance > HG1501 Banking
K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr. Mustafa Omar Mohammed Banki
Date Deposited: 15 Nov 2011 17:20
Last Modified: 26 Oct 2012 22:09
URI: http://irep.iium.edu.my/id/eprint/7336

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