Formalism versus Purposivism in Islamic Jurisprudence: The Case of Islamic Finance Law

This manuscript critically discusses the current implications of scriptural injunctions against gharar and maysir. It elaborates how overlooking features contemporary world adopting a formalistic approach in Islamic jurisprudence have led to absurdity implication doctrines maysir for Muslims’ financial activities. The also underscores necessity maqāsid (purposivism) jurisprudence. propounds that cogent concern could been an initiative scholars establish advanced contract law promote transparency economic activities if had adopted