Foundation of Shariah for Islamic Finance

Foundation of Shariah for Islamic Finance

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This module introduces the participant to the foundation of Shariah for Islamic Finance. It will highlight the main differences between Islamic and conventional finance. The basis of Islamic law and methodology of Ijtihad(interpretation) as practiced within Islamic commercial law are explained. It will show how the features of Islamic finance are derived from Shariah principles to enable the development of Shariah-compliant financial products.


Training Outline

  • Shariah: meaning, scope and application
  • Fiqh: meaning, scope and application
  • Sources of Islamic law: both primary and secondary sources
  • Theory and methodology of interpretation (ijtihad) particularly in Islamic finance
  • Introduction ofShariah, Fiqh and Legal Maxims Governing Islamic Finance
  • Shariahvis-a-visfiqh
  • The governing principles of Islamic commercial law and the leading legal maxims
  • Theory and principles to some leading Islamic finance practices

Learning Outcomes

  • Understand the meaning of Shariah and how it applies in the context of Islamic Finance
  • Understand the meaning of Fiqh and how it applies in the context of Islamic Finance
  • Able to describe the origin and sources of Islamic law
  • Understand the theory and methodology of Ijtihad
  • Explain the Legal Maxims Governing Islamic Finance
  • Able to differentiate Shariah and Fiqh



  • Language: English

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