Revisiting Operations & Products of Islamic Financial Industry In The Context of Fiqh of Crisis Management

This topic examines how Islamic financial industry operations and products are reassessed through the lens of fiqh al-azamat (crisis management jurisprudence). It highlights the inherent Shariah principles that govern Islamic finance, including justice, risk-sharing, avoidance of harm, and the achievement of public interest.

The discussion compares the state of Islamic finance before the crisis where growth was driven mainly by product development and market expansion with its condition during the crisis, where greater emphasis is placed on resilience, adaptability, and Shariah-compliant crisis response mechanisms.

Overall, the topic emphasizes that crises serve as a critical test for Islamic financial institutions, requiring them to realign their products and operations with core Shariah objectives while ensuring stability, ethical conduct, and effective risk management.