The theory of financial permissibility in Al Shafi’i jurisprudence
Keywords:
Theory, Financial permissibility, Al Shafi’i jurisprudenceAbstract
This study seeks to extract the general theory of permissibility related to finance in the Shāfiʿī School of Islamic jurisprudence, explaining the concept of permissibility and its legitimacy from a legal perspective. Explicating the features and conditions, this study demonstrates that concept of permissibility related to finance is basically legal. It further describes how it differs from other forms of donations such as loan, gift, agency, deposit, endowment and enjoyment, followed by the elucidation of the major rulings related to it in terms of retraction from the transactions and the disputes that occurs between money and one who gets the permissibility. The study finds out that permissibility is not entitling ownership, rather the owner can retract anytime he/she wishes. This study concludes with a venture of codification of rulings related to permissibility related finance which consists of 19 articles.
References
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