This course is designed to expose participants to the principles and applications of Islamic Legal Maxims (Qawa`id Fiqhiyyah) identified and formulated by Muslim jurists over a span of centuries. It discusses five major Islamic Legal Maxims (with their auxiliaries) i.e. matters are determined by intentions (al-umur bi maqasidiha), certainty is not overcome by doubt (al-yaqin la yazul bi al-shak), hardship begets facility (al-mashaqqah tajlib al-taysir), harm is to be eliminated (al-darar yuzal) and custom is an arbiter (al-`adah muhakkamah). The course further covers selected most important Maxims related to mu`amalat (transactions) in general and Islamic finance in particular e.g. the fundamental requirement in every contract is justice (al-asl fi jami` al-`uqud al-`adl), a matter recognized by custom is like (contractual) stipulation (al-ma`ruf `urfan ka al-mashrut shartan), benefit goes with liability (al-kharaj bi al-daman), liability accompanies gain (al-ghurm bi al-ghunm) etc.
