IFHUB | Dec 2022 – Maqasid and Islamic Finance: What’s Next?

Dear faithful readers,

Welcome to our final issue of IF HUB 2022, which encapsulates outstanding thoughts and views on ‘Maqasid and Islamic Finance: What’s Next?’. It is interesting to note that many events held at INCEIF University during Q4, 2022—since the official launch of our new green-city campus on 27 October 2022—also embraced the same theme that IF HUB covers in this issue.

Our interview with the renowned scholar, Datuk Prof. Dr Mohamad Akram Laldin, in the In Person Column unveils the role of maqasid al-Shariah in building the strong foundation of the Islamic finance industry and how the maqasidic framework could shape Islamic Finance 2.0.

In the INCEIF Think Tank Column, Dr Noor Suhaida Kasri and Mr. Hafizuddin showcase Malaysian leadership in championing maqasid and Islamic green finance, while Prof. Dr Younes Soualhi and Assoc. Prof. Dr Said Bouheraoua examine the macro maqasidic approach of Islamic finance law and regulations in Malaysia.

Meanwhile, the Practitioner’s Insights Column highlights the relationship between digital finance and maqasid al-Shariah and underlines key maqasidic principles for digital finance to conform with.

Among the maqasid-related events organised on campus in Q4, 2022, are: Book Review Forum on Conservation of the Environment in Islamic Law, Intellectual Discourse on Ibn Khaldun’s Circle of Justice as a Model for Comprehensive Development, and the launch of Malaysian Takaful Association (MTA) and INCEIF University’s collaboration to develop a maqasid-based scorecard for the takaful industry in Malaysia.

On behalf of the editorial team, we would like to welcome Tan Sri Shamsiah Mohd Yunus and Tan Sri Mohd Dr Daud Bakar as the newly appointed Chancellor and Pro-Chancellor, respectively. Also, congratulations to our Professors of Practice, Tan Sri Abdul Wahid Omar and Pn Suri Hanim Mohamed for their reappointment and new appointment, respectively, on 1 October 2022.

Not to forget, my heartfelt appreciation to everyone who has contributed to the successful publication of this IF HUB issue.

Until we meet again in 2023, I wish everyone a very happy new year. May the year 2023 bring more prosperity, joy and blessing from Allah the Almighty.

Happy reading!

Dr Marjan Muhammad
Editor-in-Chief