Introduction To Shariah PDF

Unit 1 Introduction to Shariah SHARIAH ASPECTS OF BUSINESS AND FINANCE Asst. Prof. Dr. Ziyaad Mahomed  Introduction to Shariah...

Unit 1 Introduction to Shariah SHARIAH ASPECTS OF BUSINESS AND FINANCE Asst. Prof. Dr. Ziyaad Mahomed  Introduction to Shariah Unit 1|2 © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE, 2019 ALL RIGHTS RESERVED. THIS BOOK OR PARTS THEREOF MAY NOT BE REPRODUCED IN ANY FORM, STORED IN ANY RETRIEVAL SYSTEM, OR TRANSMITTED IN ANY FORM BY ANY MEANS— ELECTRONIC, MECHANICAL, PHOTOCOPY, RECORDING, OR OTHERWISE—WITHOUT PRIOR WRITTEN PERMISSION OF THE PUBLISHER. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|3 UNIT OUTLINE Shariah Components of Shariah Fiqh Distinction between Fiqh and Shariah The Position and Components of Fiqh Fiqh Rulings Usul al-Fiqh OBJECTIVES By the end of this unit, you should be able to do the following:- state the concept of Fiqh state the concept of Shariah identify the similarities and differences between Fiqh and Shariah © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|4 Shariah refers to commands, prohibitions, guidance, and principles that God has addressed to mankind pertaining to their conduct in this world and salvation in the next. Fiqh refers to the understanding of issues in jurisprudence whereas Usul al-Fiqh consists of the tools used to provide this understanding. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|5 Introduction In order to understand the concept of Shariah, it is very important to first understand the term “Fiqh” which is very close in meaning and concept to Shariah. Then, a comparison between the two terms can be made to understand the similarities and differences that exist between them. Shariah The word Shariah is derived from the root word shara’a which literally means “the road to the watering place” or “the straight path to be followed”. The Quran uses the word Shariah with this meaning in the following verse: َ ‫علَى ش َِري َع ٍة ِم َن ْاْل َ ْم ِر فَات َّ ِب ْع َها َوال تَت َّ ِب ْع أ َ ْه َوا َء الَّذ‬ َ ‫ِين ال َي ْعلَم‬ )18:‫ون (الجاثـية‬ َ َ‫ثُ َّم َج َع ْل َناك‬ “Then We have put you (O Muhammad) on a plain way )‫ (شريعة‬of (Our) commandment. So follow you that (Islamic Monotheism and its laws), and follow not the desires of those who know not.” (Al- Jathiah: 18) As a technical term, the word Shariah was defined by al- Qurtubi as the canon law of Islam, comprising all the different commandments of Allah to mankind. Some scholars defined this word as the injunctions revealed to the Prophets of Allah related to law or belief. In addition to the above definitions, some scholars confined Shariah to its linguistic meaning by saying that this word means strictly following the injunctions of Allah or the way of Islam (Din). © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|6 A comprehensive definition of the word Shariah can be deduced from the different definitions given above as the sum of Islamic teachings and the system revealed to Prophet Muhammad (PBUH), recorded in the Quran as well as deducible from the Prophet’s divinely-guided lifestyle called the Sunnah. This is the common definition recognized by many contemporary scholars such as Abdul Karim Zaydan and others. It indicates that all the different commandments of Allah to mankind are part of Shariah. Each commandment is called a hukm (pl. ahkam). The law of Allah and its inner meanings are not easy to grasp. Therefore, Shariah is needed to regulate all human actions. This is why it is not a 'law' in the modern sense, as it contains a comprehensive set of rules, legal requirements, and ethical guidelines. It is basically a doctrine of duties, and a code of obligations. For this reason, legal considerations, individual rights and religious obligations in the acts of worship all form the key components of the Shariah. Fiqh Fiqh is the name given to the whole science of jurisprudence because it implies the exercise of intelligence in deciding a point of law from the clear binding text (nass) of the Quran or Sunnah when present, or providing the necessary evidence in the case of alternate sources. Fiqh is derived from the root word of faqaha which literally means comprehension or true understanding. The Quran uses this word with the above meaning in several occasions among others: )27-28 :‫سا ِني َي ْفقَهوا قَ ْو ِلي (طـه‬ َ ‫َواحْ ل ْل ع ْق َدةً ِم ْن ِل‬ "And make loose the knot (the defect) from my tongue, that they understand my speech,” (Taha: 27- 28) © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|7 The word yafqahu, which is derived from the same root of the word Fiqh in the above verse, means understanding. In a hadith which is reported by Bukhari and Muslim, the Prophet (PBUH) makes a dua for Ibn ‘Abbas by reciting, "‫"اللهم علمه الدين و فقهه في التأويل‬ “O Allah, teach him al-Din (Islamic religion) and make him understand the interpretation of the Quran.” Similarly, in this hadith, the word faqqih means providing full understanding and comprehension of the interpretation of the Quran. Before its advent and during the early days of Islam, the word Fiqh was used in the above-mentioned technical sense. However, after the development of the various sciences of Islam, this word has been associated with its different branches. As an example, the word Fiqh al- Hadith is used to express the sciences of hadith, which discusses the different subjects and topics related to hadith, such as the study of the chain of hadith or its text. Similarly, the word Fiqh al-Quran is used to denote the branches of knowledge related to the Quran. Currently, the word Fiqh al-Sirah is also commonly used to describe the branch of knowledge related to the life of the Prophet (PBUH). These are the general usage of the word Fiqh in the past and present. As for the technical usage of the word Fiqh, it is used to indicate the matters related to Islamic Law and is given various definitions by the scholars of Shariah. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|8 Imam Abu Hanifah (d. 767 CE) defined Fiqh as “the knowledge of what is permissible and what is impermissible for man” (ma’rifat al-nafs ma laha wa ma ‘alayha). This is a general definition of Fiqh as it includes all the branches of Islamic knowledge. However, al-Ghazali (d. 505 AH) confined the word Fiqh to “the science of the rules of law”. Al-Amidi provided a broader definition of Fiqh by saying that; Fiqh is “the science of understanding the legal obligations derived from its sources” (i.e. the Quran, Sunnah and other sources of Islamic law). The majority of Islamic authorities, however, defined it in terms of its four basic sources and it can, therefore, be defined as follows: "Fiqh or the science of Islamic law is the knowledge of one's rights and obligations derived from the Quran or Sunnah of the Prophet, or the consensus of opinions among the learned (ijma’), or analogical reasoning (qiyas)." This is the classical definition of Fiqh and is said to be founded on the following famous tradition of Mu’adh; the Prophet was reported to have sent Mu’adh Ibn Jabal, one of his companions, as a governor to Yemen and also appointed him as the judge. Before sending him, the Prophet asked him: "What would be the basis of your judgment if a problem is brought to you?" He replied, "the Scriptures of Allah (al-Quran)". "And if you do not find anything in it?" the Prophet asked further. He replied, “the Sunnah of the Messenger of Allah". “And if you do not find anything in it?" "Then I shall strive to interpret with the exertion of my reason". And thereupon the Prophet said: "Praise be to Allah who has favoured the messenger of His Messenger with what His Messenger is willing to approve of". This hadith gives an expression to what must have actually taken place during the time of the Prophet. It explains the Islamic perception of the methods of deriving legal solutions. It demonstrates that the process of independent judgement, within certain limits and when undertaken by capable individuals, is not only permissible but even praiseworthy. One of the important points that should be observed about Fiqh is its flexibility. There are two kinds of Fiqh rulings according to the changeable and fixed rulings, which are: © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah Unit 1|9 1. Rulings that are deduced from the decisive evidence from the Quran or Sunnah. These kinds of rulings cannot be changed with the change of time and place or circumstances. There are only a few rulings of such nature, with all the rulings related to ‘ibadah falling under this category. Examples of such rulings are the rulings related to prayer, fasting, punishment for adulterers, distribution of inheritance, and others. However, the implementation of such rulings can differ if the situation does not permit the original ruling to be implemented or if the implementation of such rulings might result in defying the objectives of the Shariah. An example of such a deferment took place during the reign of Caliph ‘Umar Ibn al-Khattab when he suspended the implementation of the punishment for theft as a result of the drought in al-Madinah. This was because the disastrous effects of the drought at that time had compelled some people to steal food in order to survive. 2. Rulings that are deduced by scholars from their understanding and interpretations of the text of the Quran or Sunnah and from other sources of Islamic law such as juristic preference (al-Istihsan), consideration of public interest (Maslahah al-Mursalah), presumption of continuity (al-Istishab), custom (‘Urf) and others. These kinds of rulings depend largely on the ability of the jurists to utilise the power of reasoning in deciding a certain fiqhi issue. In fact, most of the rulings of Fiqh, particularly the rulings related to mu’amalah, fall under this category and they are more flexible. Therefore, these rulings are subject to change according to the changes of time, place and circumstances. It is important to note that the Quran, in most cases, has provided general principles and it is up to the jurists to utilise these principles to resolve the different issues of Fiqh. The various sources based on reasoning and the general principles of Fiqh will be discussed later. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 10 Distinction between Shariah and Fiqh The previous discussion has demonstrated what Shariah and Fiqh are. Now, what are the distinctions, if any, between them? There are several obvious differences between these two terms. Among them: Fiqh is confined to what is commonly Shariah is the broader set of laws as it understood as human acts as far as their includes all human actions. legality is concerned. Shariah is the body of revealed injunctions found both in the Quran and Sunnah, and it includes the following three main components: (a) al-Ahkam al-I’tiqadiyyah or aqidah (the sanctions relating to beliefs), Fiqh is one of the components of Shariah in (b) al-Ahkam al-Akhlaqiyyah (the the form of al-Ahkam al-‘Amaliyyah. sanctions relating to morality and ethics) and (c) al-Ahkam al-‘Amaliyyah (sanctions relating to the sayings and doings of an individual and his relations with others) which is also called Fiqh. Certain rulings of Fiqh may change The textual evidences in Shariah are fixed according to the circumstances under which and unchangeable (Quran and Sunnah). they are applied. Shariah is based primarily on divine In Fiqh, the power of reasoning is stressed, revelation in which the knowledge is only and deductions based upon knowledge are obtained from the Quran or Sunnah. continuously referred to, with approval. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 11 However, it must be noted that the line of distinction is not clearly drawn and very often, Muslim scholars use the two terms interchangeably; for the criterion of all human action, whether in Shariah or in Fiqh, is the same, i.e. the seeking of approval of Allah by complying with His commandments. The Position and Components of Fiqh In order to understand the position of Fiqh among the Islamic disciplines, it is important to understand the fact that it is an important component of Shariah. As mentioned earlier, the subject matter of Shariah can generally be divided into three categories. The first is al-Ahkam al-I’tiqadiyyah or ‘Aqidah (sanctions relating to beliefs) such as the belief in Allah and the Day of Judgment. The second is al-Ahkam al-Akhlaqiyyah (sanctions relating to morals and ethics) such as the injunction to tell the truth, sincerity, honesty, etc. The last category is al-Ahkam al-‘Amaliyyah (sanctions relating to the sayings and doings of an individual and his relations with others) which is also called Fiqh. Since Fiqh is concerned with governing the relationships between man and his Creator; man and man; and man and other creatures, it can be concluded that without the existence of Islamic law, there will be no rules and regulations that govern the affairs of human beings, and this will definitely lead to chaos in the society. This aspect of Islam is very pertinent in order to ensure that society can live in harmony and peace. Fiqh covers various aspects of human life, and is not restricted to certain areas of life as is sometimes mistakenly perceived. Some people incorrectly assume that Islamic law is only concerned about and provides rulings for the relationship between man and his Creator or in other words, matters pertaining to ‛Ibadah. This understanding is inaccurate since Islamic law covers a wider range of matters and is not restricted to the ritual aspects of Islam alone. Fiqh can generally be divided into two main categories: 1. Fiqh al-‛Ibadah which covers the rulings that govern the relationship between man and Allah: ‛Ibadah (rituals). This category can further be divided into four sections: © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 12 Rulings related to prayer (Salah): This section covers the entire rulings related to prayer, from the performance of ablution up to the prerequisites of prayer and the actions that can invalidate prayer. Rulings related to fasting (Sawm): This section covers all rulings related to the obligation of fasting in the month of Ramadan and other kinds of optional/voluntary (Nafl) fasting. It includes the time of fasting, the restrictions of fasting and other related rulings. Rulings related to almsgiving (Zakah): This section covers the obligatory almsgiving, which is compulsory on every individual (Zakah), related to properties or income of which Zakah is due, once a minimum threshold of wealth is reached. It includes the Zakah of savings, crops, animals, businesses, real properties, shares and other items. In addition, it also includes the rulings related to optional almsgiving (Sadaqah). Rulings related to Hajj: This covers all rulings related to the performance of Hajj such as the conditions, prerequisites, and the different types of Hajj, the pillars of Hajj and other related rulings. 2. Fiqh al-Mu‛amalah or al-‘Adah, on the other hand, covers the rulings that govern the relationship between man and man; and man and other creatures of Allah, including man’s interaction with his environment. In fact, this category covers most topics of Fiqh, as it concerns the rulings and principles that govern the action and matters related to human beings. This part of the Islamic law concerns the rules and regulations involving man and how they should respect the rights of one another. In addition, it also provides suitable penalties for those who transgress their limits and go against the rules and regulations revealed onto them. This category can be divided into several sections, which covers the entire ruling vital for mankind. These categories are as follows: Rulings related to personal and family law (al-Ahwal al-Shakhsiyyah). This includes the rulings related to marriage, divorce, the custody of the children after a divorce and all other related rulings of family law. In addition, it also discusses the law of inheritance. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 13 Rulings governing the commercial transactions between the parties involved in the transaction (al-Ahkam al-Mu‛amalah). This includes various business contracts such as the sale and purchase contract, leasing, pawn, rules and regulations of companies and other related rulings. Rulings concerning the management of finance of the state or the economic system of an Islamic state (Fiqh al-Iqtisad). This includes the discussion of the sources of income of the state and how it should be managed, the regulation of financial institutions such as banking and insurance institutions and other related rulings. (The difference between this category and the former is that, this category concerns the management of the resources and the earlier section discusses the contract between individuals in the society). Rulings related to the administration of justice in Islam (al-Ahkam al-Qada` wa Turuq al-Ithbat). This includes the procedure of courts, the appointment of judges, the qualification of judges, the court proceedings and all related matters. In addition, this section also discusses the evidence law. Rulings governing the rights of non-Muslims in an Islamic state (al-Ahkam al- Dhimma wa al-Musta`min). This includes the obligations and responsibilities of the Muslims towards this group, particularly regarding their protection, and all the rights of the minorities in the Islamic state. In addition, it also talks about the related taxes to be paid by this group to the government. Rulings determining the relationship between an Islamic government and a foreign government (al-Ahkam al-Siyar). This includes the sending of diplomatic missions and other matters related to the relationship between the two governments. The scholars have also included the discussions of Jihad under this section. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 14 Rulings that govern the political system in Islam (al-Ahkam al-Siyasah or Nizam al- Siyasah). The discussion under this section covers the rights and responsibilities of citizens, the constitution of the country, the appointment of political leaders, the qualifications of the leaders, the power of the executives and other matters related to politics. The criminal law of Islam (al-Ahkam al-Jinayah). This includes the punishment for those who commit crime in the society. Some of the punishments are determined by the texts of the Quran or Sunnah, and some of them are left to the discretion of the judge to decide, depending on the type of crime committed. Other laws governing the relationship between man and other creatures of Allah. This includes the protection of the environment, animal rights and other related matters. The above explanation has manifested the categories of Islamic law, which demonstrates the scope of discussion of each of the categories. This explanation has also manifested the completeness of Shariah which caters for the needs of all mankind. Fiqh Rulings Fiqh rulings or Ahkam (s. Hukm) means legal rules or Shariah injunctions. It refers to the rulings that are deduced from the different sources of Fiqh concerning the actions by a morally responsible person. Islamic jurists deduced that the religious injunctions according to Fiqh are of five categories, (al-Ahkam al-Khamsah): 1. Fard or wajib (compulsory, obligatory): Refers to absolute commands which are supported by decisive proof. Disobedience to it without any legal excuse is a sin and its denial amounts to disbelief. It is of two kinds: ‘Ayn and Kifayah. Fard ‘Ayn refers to the individual obligations, which need to be undertaken by every individual, and disobeying it will result in committing a sin. The example of such an act is worshipping Allah and not associating Him with others, performing the regular five prayers and respecting and obeying one’s parents. On the other hand, Fard Kifayah refers to the collective responsibilities in the sense that if a group of people undertake to do the obligation, the rest will not be held responsible for it, but if no one carries out this duty, the whole community or nation will bear the sin for omitting it. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 15 The example of such an action is burying the deceased and undertaking the task to manufacture or cultivate the basic needs of society such as food production and defence equipment for the country. 2. Sunnah (recommended acts). Refers to deeds that are recommended to be undertaken by the Muslims. It is of two kinds: Sunnah Mu`akkadah: The act that the Prophet (PBUH) performed regularly, did not omit without any valid excuse, and recommended the Muslims to emulate. According to the Hanafi school, such an action shall not be omitted except with a legal excuse and is otherwise blameworthy. Amongst the schools, omitting such an action is frowned upon although it may not be categorised as a sin. It is also called Mandub (highly recommended act). An example of such an action is observance of the additional prayers, like those before and after the five prescribed prayers. Sunnah Ghayr Mu`akkadah: The act that the Prophet (PBUH) often performed and sometimes omits without excuse. In other words, this kind of action is the action that is recommended. Omission of such Sunnah is not a sin. It is also called mustahab (praiseworthy). The difference between this kind of Sunnah and the first one is that the first is highly recommended whereas this kind of Sunnah is recommended and omitting it is less disliked than the former. An example of such an action is giving charity to others. 3. Haram (prohibited, unlawful): This is an act that is prohibited by decisive evidence (Adillah Qat’iyyah) from the Quran or Sunnah. Committing such an act is punishable and its omission is rewarded. The denial of its impermissibility amounts to disbelief. There are many activities which fall under this category such as taking and paying of interest (riba`), adultery, telling lies, backbiting, consuming liquor and others. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 16 4. Makruh (abominable, undesirable): It is the act whose omission is preferable and highly recommended. It is of two kinds, Tanzihi (lesser undesirable, nearer to permissible) and Tahrimi (nearer to Haram). The example of such an act is the consumption of certain kind of food, like those which give bad odour. 5. Mubah (permissible, indifferent): It is also called Ja’iz or Halal. This refers to an act where both commission and omission neither merit any reward nor entail any punishment, and no Shariah injunctions are attached to it. There are thousands of Mubah acts such as playing sports. Usul Al-Fiqh Scholars of Islamic Law divide the science of Fiqh into two main divisions: The Usul, which literally means the roots or foundations and the furu’ which means the branches of the law. The science of Usul deals with the methods by which the rules of Fiqh are deduced from their sources and the science of furu’ deals with particular injunctions (Ahkam) as the results of the application of the science of Usul. It is, therefore, necessary to realise that in Islamic law, there is a very clear distinction between the principles in the first division and the rules deduced from their application. Usul al-Fiqh or the origins of Islamic Law, explain the indications and methods on how the rules of Fiqh are deduced from their sources. These indications are found mainly in the Quran and Sunnah which are the principle sources of Islamic law. The rules of Fiqh are derived from the Quran, Sunnah and other sources and are collectively known as Usul al-Fiqh. In fact, the Quran and Sunnah contain very little methodologies, but they provide the indications and general principles from which the rules of Fiqh can be deduced. The methodology of Usul al-Fiqh refers to Ijtihad (methods of reasoning) such as Qiyas (analogy), Istihsan (juristic preference), Maslahah (public interest), Istishab (presumption of continuity), ‛Urf (customary practice), ‛Amal Ahl al-Madinah (practice of the people of al-Madinah) and Sadd al- Dhara`i (blocking the means to evil). These are all considered as assistance to the correct © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 17 understanding of the sources and tools of Ijtihad. Thus, Fiqh as such, is the end product of Usul al- Fiqh. However, the two are separate disciplines. The importance of Usul al-Fiqh is irrefutable as it examines the sources of Islamic Law, the methods that must be used to deduce the rules, and the person who is legally qualified and equipped to deduce these laws. Ibn Khaldun (d. 808 AH/1406 CE) emphasised the importance of Usul al-Fiqh when he said: "(It is) one of the greatest sciences of the Shariah, the most powerful and beneficial science." Fakhr al-Din al-Razi (d. 606 AH/1209 CE) also stressed the importance of this science in his work, Al-Mahsul, when he said that it is the most important science for a mujtahid. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 18 UNIT SUMMARY ▪ Shariah represents the core of Islamic finance; it is regarded as the key driver of the trade and business of the Islamic banking activities. Therefore, it is very important to understand the concept of Shariah and the related terms such as Fiqh, Usul al-Fiqh and the nature of the relationship between them. ▪ Shariah is defined as the canon law of Islam, all the different commandments of Allah to mankind. It is also defined as the injunctions revealed to the Prophet Muhammad (PBUH) related to law or belief. In addition to Shariah, the terms Fiqh and Usul al-Fiqh represent the two key terms after Shariah. ▪ Fiqh or the science of Islamic law is the knowledge of one's rights and obligations derived from the Quran or Sunnah of the Prophet, or the consensus of opinions among the learned (Ijma’), or analogical reasoning (Qiyas). ▪ Whereas Usul al-Fiqh or the origins of Islamic Law, explain the indications and methods by which the rules of Fiqh are deduced from their sources. These indications are found mainly in the Quran and Sunnah which are the principal sources of Islamic law. ▪ The rules of Fiqh are derived from the Quran and Sunnah and other sources which are collectively known as Usul al-Fiqh. The above concept is the body of knowledge of the major components that should be understood to build a solid foundation with regards to Shariah and the major elements related in order to refer to them in Islamic Finance. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 19 REFERENCES Laldin, Mohammad Akram. (2006). Introduction to Shariah and Islamic Jurisprudence. Kuala Lumpur, Malaysia : CERT Publications Nyazee, Imran Ahsan Khan. (2003). Islamic Jurisprudence. Kuala Lumpur, Malaysia : Islamic Book Trust Ziddan, Abd Karim. (1999). Al Madkhal li Dirasat al Shariah al Islamiyyah. Lebanon : Nashirrun © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 20 KEY TERMS The total sum of Islamic teachings and system, which was revealed to Prophet Shariah Muhammad (PBUH), recorded in the Quran as well as deducible from the Prophet’s divinely-guided lifestyle called the Sunnah. The knowledge of the legal rules (Al Ahkam Al Shariyyah), pertaining to conduct Fiqh that have been derived from their specific evidences. The knowledge of principles by means of which one has access to the derivation Usul al-Fiqh of the commands of the Shariah relating to the conduct of man on the basis of its detailed proofs. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 21 Discussions Discuss the following questions with your peers and facilitator in the online forum. 1. Discuss the differences between Shariah and Fiqh. 2. Compare and contrast between Fiqh and Usul Fiqh. 3. Explain the importance of Usul Fiqh to Islamic finance. © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance  Introduction to Shariah U n i t 1 | 22 SHARIAH ASPECTS OF BUSINESS AND FINANCE © INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE 2019 Shariah Aspects of Business and Finance Asst. Prof. Dr. Ziyaad Mahomed