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Philosophy and Fundamentals of Sharī’ah for Islamic Finance
SHA0011

Allāh SWT says:
“… And whatever the Messenger has given you - take; and what
he has forbidden you - refrain from. And fear Allāh SWT; indeed,
Allāh SWT is severe in penalty...”
(al-Ḥashr 59:7)

Allāh SWT says:
“(This is) the Revelation of the Book in which there is no doubt,
from the Lord of the Worlds.”
(al-Sajdah 32:2)

2. Sunnah

Literally Sunnah means habitual or customary practice, whether this
practice is good or bad. In the terminology of Uṣūl al-Fiqh or principles of
jurisprudence, Sunnah denotes a saying (qawl), action (fi’l) or tacit
approval (taqrîr) related from the Prophet SAW or issuing from him
other than the Qur’ān.

Salient Features

a. Sunnah is the second main source of Islamic law and its position
is next after the Qur’ān

b. Sunnah encompasses the sayings, doings and tacit approvals
of the Prophet SAW

Nature and Content of the Sunnah
a. The Sunnah reemphasises and reiterates the injunction of the
Qur’ān.

Example: Injunction relating to the prohibition of taking a property
of other person without his consent. “It is unlawful to possess a
property of a Muslim without his express consent” (Reported
by al-Darqutni).

This Sunnah emphasizes the Quranic injunction:

Allāh SWT says:
“O ye who believe! Eat not up your property among yourselves
unjustly except it be a trade amongst you”
(al-Baqarah 2: 188)

b. The Sunnah explains and clarifies the verses of the Qur’ān

i. Specify the generality rule of the Qur’ān