SAC

ABSTRACT

This research examines the extent to which the Shariah Resolutions of the Shariah

Advisory Council (SAC) of Bank Negara Malaysia in Islamic financial transactions are

based on the Maqasid Al-Sharicah. The study focuses on Islamic banking products in

Malaysian banks and is conducted within the framework of the Maqasid Al-Sharicah

rules of Maslahah cAmmah (Public Interest) and Islah Tadarruji (Incremental

Reformation). It also considers the problems related to the resolution of conflict

between the theoretical and actual implementation aspects from the Maqasid

perspective. This study is based on the analytical, comparative and inductive methods

that analyse and discuss the theoretical part of the Islamic scholars’ views. The method

of field study is conducted through empirically obtained expert interviews regarding the

validity and applicability of the Maqasid rules in the resolution and determination of the

issues thereunder. The findings of this study show that the resolutions of the SAC, in

fact, are based on the Maqasid rules, but it does not contain a proper framework. This

must be scrutinized accordingly from the approach of Maslahah cAmmah and Islah

Tadarruji which have a vital role in the formation of the Maqasid framework for Islamic

financial law in Malaysia. Such approach is necessary to evaluate the validity of

implementation of the resolutions in light of Maqasid Al-Sharicah in order to reach the

desired reforms gradually and holistically in conformity with these ideals.

APPROVAL PAGE

I certify that I have supervised and read this study and that in my opinion; it conforms

to acceptable standards of scholarly presentation and is fully adequate, in scope and

quality, as a thesis for the PhD of Islamic Revealed Knowledge and Heritage (Fiqh and

Usul Fiqh).

…………………………………..

Mohamad Sabri Zakaria

Supervisor

I certify that I have read this study and that in my opinion it conforms to acceptable

standards of scholarly presentation and is fully adequate, in scope and quality, as a thesis

for the PhD of Islamic Revealed Knowledge and Heritage (Fiqh and Usul Fiqh).

……………..……………………

Akhtarzaite Abdul Aziz

Examiner

This thesis was submitted to the Department of Fiqh and Usul Fiqh and is accepted as

a fulfilment of the requirement for the PhD of Islamic Revealed Knowledge and

Heritage (Fiqh and Usul Fiqh).

………………….…………….....

Abdul Bari Awang

Head, Department of Fiqh and Usul Fiqh

This thesis was submitted to the Kulliyyah of Islamic Revealed Knowledge and Human

Sciences and is accepted as a fulfilment of the requirement for the PhD of Islamic

Revealed Knowledge and Heritage (Fiqh and Usul Fiqh).

……………………………..……

Mohammad Abdul Quayum Abdus Salam

Dean, Kulliyyah of Islamic Revealed

Knowledge and Human Sciences

APPROVAL PAGE

The thesis of Muhammad Najib Abdullah has been approved by the following :

__________________________________

Mohamad Sabri Zakaria

Supervisor

__________________________________

Akhtarzaite Abdul Aziz

Internal Examiner

__________________________________

Said Bouheraoua

External Examiner

__________________________________

Shofian Ahmad

External Examiner

___________________________________

Akram M Z M Khedher

Chairman

DECLARATION

I hereby declare that this thesis is the result of my own investigations, except where

otherwise stated. I also declare that is has not been previously or concurrently submitted

as a whole for any other degrees at IIUM or other institutions.

Muhammad Najib bin Abdullah

Signature: ………………………………… Date:……………

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Gulf Cooperation Council -GCC

(AAOIFI)

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