Maqasid al Shariah and Stakeholders’ Wellbeing in Islamic Banks: A Proposed Framework

  • Shafiullah Jan
  • M. Fahad Siddiqi
  • Karim Ullah

Abstract

The extant literature describes and justifies stakeholders’ wellbeing as the essence of Islamic Banking and Finance (IBF). This infers the compulsion on Islamic banks to devise their operations based on inclusive wellbeing, and a greater perspective from the Maqasid al Shariah framework, and not merely converging on the compliance rulings. This paper presents a review and analysis of the present literature on Maqasid al Shariah and Stakeholders’ wellbeing and synthesizes a framework for gauging the theoretical association between the classical Maqasid al Shariah and Stakeholders’ wellbeing. The proposed framework can be used as a dependable framework for policy implication and future research in IBF. Moreover, concentrations of research efforts are identified from the present review and directions for future research are proposed.
Published
2019-03-30
How to Cite
JAN , Shafiullah; SIDDIQI , M. Fahad; ULLAH , Karim. Maqasid al Shariah and Stakeholders’ Wellbeing in Islamic Banks: A Proposed Framework . Business & Economic Review, [S.l.], v. 11, n. 1, p. 83-102, mar. 2019. ISSN 2519-1233. Available at: <http://www.bereview.pk/index.php/BER/article/view/270>. Date accessed: 05 aug. 2020.
Section
Articles