Indonesian Journal of Advanced Research (IJAR)
Vol. 4 No. 6 (2025): June 2025

Beyond Compliance: Constructing a Maqāṣid-Based Framework for Shariah Governance in Ethical Islamic Finance

Umar, Rahmawati (Unknown)
Wahab, Abdul (Unknown)

Article Info

Publish Date
30 Jun 2025

Abstract

This article examines the weaknesses of the Shariah Governance (SG) framework that focuses too much on formal legal compliance, thus neglecting the objectives of Islamic ethics (maqāṣid al-sharīʿah). With conceptual and normative approaches, this study proposes a Maqāṣid-Based Shariah Governance (MSG) framework that emphasizes value-based ethical governance. MSG includes elements such as value instillation, ethical oversight, a dynamic fatwa process, and maqāṣid-based performance indicators. This article also integrates ESG principles with maqāṣid to promote sustainable and ethical Islamic finance.

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Journal Info
Indonesian Journal of Advanced Research (IJAR)
Website

Abbrev

ijar

Publisher

PT FORMOSA CENDEKIA GLOBAL

Subject

Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Education Languange, Linguistic, Communication & Media

Description

Indonesian Journal of Advanced Research (IJAR) is an open-access and peer-reviewed journal, published by Formosa Publisher, which is mainly intended for the dissemination of research results by researchers, academics, and practitioners in many fields of science and technology. IJAR publishes ...