Purpose The purpose of this study/paper is the generalized ontological law of monotheism (unity of knowledge) and its functioning in the financial world system is summarized and contrasted with the recent conception of “ shari’ah -compliance”. Thereby, some specific rulings of shari’ah...

Purpose This paper aims to explain the dynamics of the inner inter-variable functional relations of trade versus oppositely coterminous variables of interest rates as shadow rates of interest. Such an explanation of trade versus riba relations has not been covered in the literature on Islamic...

Purpose – This paper aims to undertake a critical evaluation of the purpose and objective of Islamic Law, namely, maqasid as-shari’ah , as it has evolved in Islamic scholastic experience. But, the greater philosophy and potential of maqasid as-shari’ah within the great design of the...

Purpose This paper aims to open the gateway of methodological abstraction and its application in an Islamic perspective in a way that has not been carried out before in Islamic literature. That is because of the absence of ontological and epistemological inquiry in Islamic erudition for a long...

Purpose – The purpose of this paper is to answer the question posed in the literature: “What is the definition of law and justice?” Design/methodology/approach – The paper addresses the question from the vantage point of contrasting epistemological premises of liberalism and unity of...