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Philosophy and Fundamentals of Sharī’ah for Islamic Finance
SHA0011

TOPIC 1: INTRODUCTION TO SHARĪ’AH AND FIQH

Learning Objectives

At the end of the topic, you will be able to:
• Define the meaning of Sharī’ah
• Understand the main components of Islām
• Understand the definition and classification of Fiqh
• Understand the relationship between Sharī’ah and Fiqh
• Understand the salient features of Sharī’ah
• Define the objectives of Sharī’ah

UNIT 1: DEFINITION OF SHARĪ’AH

The word Sharī’ah literally means, ‘the road to watering place’ or ‘the path
to be followed’. It is then used technically as the injunctions revealed to
the Messengers of Allāh SWT related to law or belief. Other scholars simply
define Sharī’ah as the injunctions of Allāh SWT as the way of life. Thus, al-Qarḍāwi,
observed that the word Sharī’ah in this context is used to mean the religion
of Islām itself.

Based on numerous and yet interrelated definition of Sharī'ah, it is safe to
conclude that Sharī’ah is the sum total of Islamic teaching and system, which
was revealed to Prophet Muhammad SAW as recorded in the Qur’ān and the
Prophetic tradition of Muhammad SAW. Sharī’ah within this understanding
consists of three components, namely; belief in the Oneness of Allāh SWT
(‘Aqīdah), observance of the rules relating to conducts (fiqh/Sharī’ah) and
code of moral and ethics (Akhlāq).

UNIT 2: MAIN COMPONENTS OF ISLĀM

As indicated earlier, the holistic teaching of Islām is well presented in its three
main components namely; ‘Aqīdah, Sharī’ah and Akhlāq.

Diagram 1 : The Main Components of Islām