The Visionary Philosophy of Shariah Governance in Islamic Financial System: Pioneering Green Finance for a Sustainable Future
In an era where sustainability is pivotal, the Visionary Philosophy of Shariah Governance in Islamic finance is more relevant than ever. Shariah governance not only ensures compliance with Islamic principles but also supports broader environmental and social goals. This innovative approach aligns seamlessly with the principles of green finance, fostering a financial system that prioritizes sustainability and ethical investment. In the context of Shariah governance principles in the Islamic financial system, this study discusses the relationship between Islam, muamalat, and Islamic finance from a philosophical perspective. A clear and accurate understanding of these three subjects is crucial for grasping the connection between Islam as a religion based on divine revelation, fiqh muamalat in general, and the Islamic financial system in particular. Following this discussion, the philosophy of Shariah governance and its importance as the main pillar supporting the Islamic financial system is also revealed using a descriptive philosophical approach and a qualitative approach through document review. This approach is necessary to identify ideas, theories, and legal techniques that have emerged based on current knowledge.
Authors
- Muhammad Syahrul Deen Ahmad Rosli
- Siti Farahiyah Ab Rahim (ORCID: https://orcid.org/0009-0009-0912-9939)
- Wan Farahiyah Izni W Abd Rahman
- Ruzian Markom (ORCID: https://orcid.org/0000-0003-4014-5899)
- Faezy Adenan
- Nur Atheefa Sufeena M Suaree (ORCID: https://orcid.org/0009-0005-2916-3465)
- Mohd Izzat Amsyar Mohd Arif (ORCID: https://orcid.org/0000-0001-5296-3376)
Institutions
- Universiti Teknologi MARA (MY)
- National University of Malaysia (MY)
Publication Details
- Journal
- International Journal of Academic Research in Business and Social Sciences
- Published
- 2024-08-19
- DOI
- https://doi.org/10.6007/ijarbss/v14-i8/22487
- Citations
- 1
- Primary Topic
- Islamic Finance and Banking Studies
- Type
- article
- Field-Weighted Citation Impact
- 0.95
Funders
- Universiti Kebangsaan Malaysia