Department: Religions, History and Heritage Studies
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1
APPLICATION OF MAQASIDU ’SH-SHARIcAH IN ISLAMIC FINANCE WITH PARTICULAR REFERENCE TO ITS IMPLEMENTATION IN NIGERIA
ABSTRACT
Looking at a crucial position occupied by Maqasid al-shari’ah in ijtihad process of a valid examination of the text and provide protect interpretation to achieve the Islamic ruling, one will not doubt its significance to Islamic jurisprudence. The primary objective of Maqasid al- Sharicah is the realization of benefit to the people connecting their affairs both in their world and hereafter it generay held that the Sharicah in all its part aims at securing benefit for people or protecting them against corruptions and evils. The aim of this paper is to elaborate literal and technical meaning, history, methodology, classification of Maqasid al- Sharicah and its identification in Qur’an and Sunnah. The paper also aims at explanation of the concept of Maqasid al- Sharicah of Islamic jurisprudence in order to appreciate its contribution towards comprehensive rational and realistic answers to contemporary financial issues, with particular reference to its implementation in Nigeria.
