Islamic Finance – Shafi’i School of Law
The Shafi'i school of law is the third significant institution still in operation. This school was named after Muhammad bin Idris al- Shafi'i's (d.820AD). A single scholar who was well-versed in the tenets of both the Maliki and Hanafi schools of thought produced the Shafi'i school of law as a result of his synthesis. He reiterated the legitimacy of the Prophet Muhammad's traditions as a source of law that coexists with and is equal to the Qur'an, according to the Maliki school of thought. He put out the idea that the Prophet Muhammad's Traditions clarified the interpretation of the Qur'an, which later gained universal acceptance. He adopted the independent sound judgment position from the Hanafi school of law and used it as a tool for analogical inference in his legal theory. Al Shafi'i's contribution consists on his synthesis of Islamic legal doctrine. It should be mentioned that Al-legal Shafi'i's theory in Islamic jurisprudence works better in fixed-law domains. Since al-Shafi'i and his school of law were never concerned in areas of law that are flexible and worldly, as in the case of the Hanafi school of law, these include devotional affairs and the like. The primary commerce routes, which Shafi'i communities are mostly linked with, tend to follow a pattern that is similar to how Shafi'i school of law members are distributed. Many Shafi'is can be found in East Africa, Yemen, Malaysia, and Indonesia.
0 Comments
Leave a Reply. |
AuthorAnything you need to know about finance, money and business Archives
May 2023
Categories
All
|