THE TREATMENT OF TRANSACTIONAL ISSUES IN CONTEMPORARY ISLAMIC JURISPRUDENCE

This article presents a comprehensive analysis of how transactional (muʿāmalāt) issues are addressed in contemporary Islamic jurisprudence. The study examines how traditional Islamic legal principles are interpreted and applied in the context of globalization and modern economic reforms. Particular focus is given to the concept of murābaḥah contracts, which are widely used in Islamic finance. The paper investigates legal complexities arising in Western legal systems when adjudicating Islamic financial transactions, exemplified by the case of Islamic Investment Company of the Gulf Ltd. v. Symphony Gems N.V.