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

Rahmawati Umar; Abdul  Wahab

doi:10.55927/ijar.v4i6.14711

Authors

Rahmawati Umar Sekolah Tinggi Ilmu Ekonomi YPUP
Abdul Wahab Universitas Islam Negeri Alauddin

DOI:

https://doi.org/10.55927/ijar.v4i6.14711

Keywords:

Shariah Governance, Maqāṣid al-Sharīʿah, Islamic Finance, Ethical Governance, ESG Integration

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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