<![CDATA[The concept of hisbah in classical Islam can be actualized as a foundation for modern Sharia oversight, particularly through the role of the Sharia Supervisory Board (SSB) in financial institutions. However, the oversight conducted by the SSB is often merely formal and procedural, failing to address the deeper values of maqasid al-shari’ah (the objectives of Sharia). Given the complexity of modern financial products, a maqasid-based approach encompassing the protection of religion, life, intellect, lineage, and property is crucial as a benchmark for substantive Sharia validity. This study examines how hisbah principles can be embodied by the SSB within contemporary financial systems, utilizing a literature review methodology. The findings indicate that reorienting the SSB’s function from legalistic oversight to that of a guardian of Islamic ethical values is a vital strategy for realizing a Sharia financial system that is not only legally compliant but also delivers tangible benefits to the community.]]>
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