SHARIAH ISSUES IN ISLAMIC CAPITAL MARKET13 November 2019 Azahari
All commercial transactions must be governed by the respective rules and norms of Islamic ethics, as enunciated by the Sharia’ah. The Islamic system disapproved of any exploitation or injustice on the part of any of the parties involved. To achieve this objective, the Shari’ah has advised some prohibitions and recommended some ethics. Study of the rules and norms reveals that Islamic finance is, in essence, an ethical system and ethics need to be an inseparable part of the system. What is not prohibited is permissible. Therefore, all contracts are valid unless they violate the text of the Holy Qur’an or Sunnah of the holy Prophet (phuh), or are in conflict with the objectives of the Shari’ah.