UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

The Five Categories in which Qu’ranic Declaration Indicates Matters of Legal Significance (Imam al-Shafi’i)

 

  1. That which Allah declared [in the Qu’ran] as a specific legal provision which admits of no interpretation other than its literal meaning.  This category of bayan needs no other explanation than the Qu’ran itself.
  2. That which the Qu’ran mentions in texts that may be interpreted in several ways, and for which the Sunnah provided an explanation of exactly which one was intended.
  3. That which clearly stated to be obligatory; and which the Prophet explained in terms of how, why, upon whom, and when applicable and when not.
  4. That which was explained by the Prophet but not mentioned in the Qu’ran.  Allah commanded in the Qu’ran that the Prophet be obeyed and his rulings accepted.  Therefore, what is said on authority of the Prophet, is said on the authority of Allah.
  5. That which Allah requires His creation to seek through ijtihad.  This is qiyas.  According to Imam al-Shafi’i, qiyas is a method for reaching a legal decision on the basis of evidence (a precedent) in which a common reason, or an effective cause, is applicable.

UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

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