Sharı‘ah resolution and Islamic finance : a review

Abstract EN

Purpose : the purpose of this study is to look into the Sharı‘ah resolution framework in Islamic finance and see how it may be improved.

this paper is based on a detailed examination of previous research into the need for a worldwide Sharı‘ah Resolution mechanism to be applied across all IFIs.

methodology : a detailed analysis of past studies on the necessity of a Sharı‘ah resolution framework to be implemented globally by all IFIs was used to develop the qualitative method.

findings: measuring the level of fatwá disclosure by specific islamic banks through central banks sharı‘ah judgements will add to the existing literature while also filling a gap.

significance : this study is noteworthy because it lays the framework for future researchers on the topic.

using a central bank to assess the extent to which certain islamic banks have disclosed fatwá.

limitations : these articles’ implications may aid in the explanation of Sharı‘ah-related concerns in Islamic finance.

Sharı‘ah resolution in Islamic finance will be a significant Sharı‘ah resource for new products supplied by Islamic financial institutions, as well as any existing goods given to new clients and industry practitioners.

implications : the fatwá is the legal response to the present diculties that have arisen in the community.

fatwá are used to disseminate knowledge to Muslims in order to alleviate their diculties and misconceptions.

any fatwá-related knowledge will have an impact on individuals, societies, and organizations .

as a result, this paper examined the role of fatwás in sharing information and determining how far fatwás can educate society in resolving problems.