The Contribution of Maqasid Al-Sharia to the Development of Islamic Finance: An Assessment of The Islamic Capital Market
Keywords:
Maqasid al-Sharia, Islamic Finance, Islamic Capital MarketAbstract
Maqasid al-Sharia are the main goals that set Islamic law to achieve the goodness of all human being in this world and the hereafter. These goals include its basic principles of securing, promoting, preserving, and protecting human interests by bringing benefits and warding off harm in all areas of human life. These basic principles of the objectives of Islamic law have a major role in developing Islamic finance in order to meet the social and economic needs of the nation in line with these specific goals, and to what extent the objectives of Islamic law have contributed to the development of Islamic finance is what this paper seeks to explore, with a
focus on the Islamic Capital Market (ICM).
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