The ultimate purpose of Sharia law is to protect the welfare of humans by bringing benefits for them and preventing harms from them. The jurists agree that the evidence of maslahah is the basis on which the provisions of financial and banking transactions are based regardless of their difference of opinions in terms of its conditions. The reality of Islamic banking transactions and the complexity of many of its issues make the existence of clear evidence from the Quran and Sunnah difficult, which necessitates for the researchers to make additional efforts in this field, and conduct ijtihad to use the evidence of maslahah with its legal conditions as a way to reveal the Shariah rulings by following the Companions and righteous scholars during their time. Therefore, the research will deal with the concept of maslahah and some issues related to considering it in financing with al-Qard al-Hasan in the Islamic banks, and opinions of scholars about it. In addition, it explains the procedures of granting al-Qard al-Hasan at Al Baraka Islamic Bank in Algeria and highlights the need of the Algerian youth to obtain al-Qard al-Hasan which will be investigated through the distribution of questionnaires among them. The research follows the inductive approach to extrapolate the scholars opinions, and analytic approach to analyze their views, and analyze the results of the questionnaires about al-Qard al-Hasan. The research concludes that the Shariah ruling of some issues of al-Qard al-Hasan is based on evidence of maslahah including all of its types which are considered, canceled and silenced ones.

This paper addresses the issue of achieving sustainable development through green financing instruments, where it discusses the meaning of green bonds and Sukuk, the steps of their issuance, their dimensions, and characteristics. The paper also examines the provision of Shariah on green bonds and Sukuk and discusses the extent of their capability to achieve sustainable development of society. This study uses the inductive approach to track the opinions of researchers on the subject as well as the analytical approach to analyze those opinions. The study has reached a number of conclusions, the most important of which are: the impermissibility of dealing with green bonds because they are based on riba. Likewise, green Sukuk is also not permissible in Shariah because of the suspicion of riba in it, as it is recovered at nominal value, and these financing instruments do not contribute to the achievement of sustainable development to the highest degree as expected.

As temporary waqf has a positive role in serving the welfare of societies, especially those which took organized steps to benefit from it, this research aims to find the means and mechanisms of funding it. This will have a positive role in the development of society which has problems in finding mechanisms to finance the temporary endowment, and how to employ them for this development. The research will use practical experiences to identify these mechanisms. Also, in order to understand the role of temporary waqf for social development, the researchers will use the inductive method through reading books, articles, and classical and modern scholarly researches, and the analytical approach to discover the impact of temporary waqf on the various fields of society.

Musharakah Mutanaqisah (MM) or Diminishing Partnership is one of the financing contracts that comply with Shariah and many Malaysian Islamic banks have introduced this mode of contract into their home financing product except Hong Leong Islamic Bank and some other Islamic banks who have not yet done so. Thus, this research intends to study the possibility of offering MM contract in Islamic Home Financing as a product at Hong Leong Islamic Bank. The researchers conducted a field study through several interviews with the staff working in the product development department and department of Shariah in some of the Malaysian Islamic banks. From the theoretical aspect, the researchers explain the concept of home financing, MM and the fiqh perspective of the subject in question. The responses received during the interviews are used to analyze the possibility of offering MM contract in Islamic Home Financing product at Hong Leong Islamic Bank. This research concludes that there is a possibility for Hong Leong Islamic Bank to do so, should it consider some suggestions presented in this paper.

Law no. 1 of the year 2013 issued by the Central Bank of Libya has caused a challenge for Libyan banks because this law has prevented all Libyan commercial banks from providing personal loans with interest (riba) at a time when there was no existence of Islamic banking activities. This problem called for finding a suitable alternative for personal financing. An alternative would be the creation of financing services and benefits based on Shari`ah rules. Therefore, this research aims to study the conditions and work mechanisms for the mode of financing services and benefits and the possibility of employing it as a source of personal finance in Libyan banks. This research uses descriptive and analytical approaches. The study has arrived at a number of findings. The most important of them are: it is possible to implement the mode of financing services and benefits as a source of personal finance to meet the needs of customers, and this mode has the characteristics that qualify it to be a good alternative for personal loans.

E-commerce and the digital world are among the initiatives that are addressed by many contemporary researchers. This study seeks to find out how important the digital world, e-commerce, and informatics are in achieving the goals of the Islamic economy. This study also aims to develop the concept of the digital world and to determine whether the digital world is in line with the objectives of the Islamic economy. This research uses the descriptive and inductive approaches to trace the higher goals and objectives of the Islamic economy, and then incorporate them into the study area, and demonstrate the advantages of the digital economy. This research concludes that the digital world does not contradict the Shariah objectives related to wealth. These are represented in the following: breaking down the barriers; standardizing the market, the speed and ease of information exchange between consumers; reducing the distance between producers and consumers which helps in making the concept of full competition in the market consistent with the objectives of the Islamic economy in the clarity of the contract and its safety from gharar at the level of its construction; the prohibition of monopoly; the promotion of trade and activating the principle of supply and demand based on product quality; incorporation of the concept of coexistence and human exchange; reverence for science and knowledge; and encouragement for renewal and development by expanding the area of ijtihad in the drafting of contracts. This all leads to speediness, quality, and mutual benefits, which are in line with the Shari`ah and the objectives of wealth observed in this sector.

The history of endowments in the Kenyan coast dates back to the advent of Islam in this region. The first endowments in the Kenyan coast were mosques made of mud. This is because the early Muslims (Arabs) were business merchants who were not permanently living within the coast. They often used to come to the coast and set off for the Arabian Peninsula. The first endowment to be established in this region was the Friday congregational mosque at Shanga – a village in Pate island in Lamu county, dating back to 870 A.D. Later on, Muslims endowed the agricultural lands after noticing that the region’s land was fertile and suitable for agriculture, experiencing adequate rainfall and had a moderate climate throughout the year. However, these agricultural lands had been leased out for 99 years wherein the waqf commission received very little rent throughout this period until the expiry of the contract. Moreover, a large number of tenants refused to pay an annual rent for the real estates. So, Muslims incurred a great loss due to lack of proper usage of their resources. In order to avoid these problems, the researcher sees the need to establish agricultural projects such as the growing of mangoes, oranges, and bananas so that the income obtained can be used to benefit the Muslim community.

The purpose of this article is to analyze the experience of the Employees Provident Fund or EPF in the management of the Shariah Fund and the jurisprudential adaptation of its activities and investments. This article selects the EPF in Malaysia as a model for analysis as a successful financial project. This article uses both inductive and analytical approaches to achieve its objectives. Malaysia Shariah Retirement Savings Fund for workers needs to develop Shariah-compliant investment methods to achieve the objective of investing the savings of contributing members with a good financial return so that the members financial assets in the fund will increase. The article reveals that the Malaysian Workers Provident Pension Fund was developed on the wakalah (agency) contract which matches the nature of the funds activities with its rich, flexible and secure features.

The introduction of the digital wallet known as “E-Wallet” helps people in their transactions without the need for cash, which is known as the phenomenon of “go cashless.” Implementation of the e-wallet is involved with some transactions and concepts used, which may trigger Shariah issues; this is the research problem. Therefore, there is a need to study this concept and its application by looking into the related Shariah requirements in order to clarify the Hukm of using the e-wallet for Muslim users. This paper aims to analyze the concepts used in the e-wallet from a Shariah perspective (TakyIf FiqhI) and to highlight issues that are related to its application. This research uses the inductive approach in finding classical and contemporary references, as well as the analytical approach in relation to the Shariah concepts and issues. Finally, this research concludes with several findings: 1) the concept of wadiah can be adopted for the e-wallet as long as there is no usage from the platform provider; 2) it was found that the implementation of cashback does not involve riba payment; 3) lastly, there are some key challenges in implementing the e-wallet fully in Malaysia, especially in terms of the security risk.

Oman has adopted the Shariah governance framework which is very similar to other countries that face issues of Shariah governance such as independence, competency, and disclosure. Therefore, this study will examine these main issues in the Shariah governance framework of Oman. This paper aims to examine the current practice of Shariah governance in Oman from the perspectives of Shariah advisors, bankers and regulators. The paper focuses on the present practice of Shariah governance framework and related issues such as independence, competency, and disclosure. The paper uses the descriptive research method in terms of collecting secondary data and information for the literature review. Since the availability of data and information on Shariah governance practices in Oman is very limited, a semi-structured interview was conducted with Shariah advisors, officers and regulators to explore their perceptions on Shariah governance and related issues. The findings of the paper reveal that the regulators have put in place an excellent Shariah governance framework and it may be considered as one of the best frameworks in the Islamic banking industry. However, there are shortcomings and weaknesses in the current practice of Shariah governance frameworks, such as lack of experience, lack of research in the field of Islamic banking and finance and low position of internal Shariah review. This study provides and proposes some recommendations for enhancing the present Shari’ah governance framework.