The maqasid filter in takaful audit

Yussof, Sheila Ainon and Soualhi, Younes (2012) The maqasid filter in takaful audit. In: Islamic banking & finance: principles, instruments & operations. The Malaysian Current Law Journal Sdn Bhd, Ampang, Selangor, pp. 699-714. ISBN 9789670379012

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Abstract

Introduction : Islamic financial institutions in conducting regular audits must look for evidences in their contracts, processes and activities that genuinely support the goals and objectives of the Shari'ah (maqasid al-Shari'ah). The maqasid of the Shari'ah concerning all kinds of economic wealth can be summarised under five parameters/criteria: 'adl (justice) in handling it; wuduh (transparency); hifz (preservation); thabat (durability); and rawaj (marketability) or a fair circulation of wealth in the hands of as many people as possible. Specific issues identified in family takaful operations are used to determine whether the application of the maqasid filter based on the above criteria can help assure halal and wholesome profits that are enhanced by the maslahah or public benefit of growth and preservation and just distribution of wealth and the attainment of sustainability goals to support future generations.

Item Type:	Book Chapter
Additional Information:	2098/24358
Uncontrolled Keywords:	Maqasid, takaful
Subjects:	B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics H Social Sciences > HJ Public Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Islamic Revealed Knowledge and Human Sciences
Depositing User:	Mrs. Wan Salwati Wan Salleh
Date Deposited:	12 Jun 2012 12:20
Last Modified:	04 Apr 2016 15:22
URI:	http://irep.iium.edu.my/id/eprint/24358

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