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Integrating Maqāṣid al-Sharīʿah and Governance Principles: A Framework for SME Shariah Financial Compliance

Identification

Clé publique

radar:r-a3d3a7560ca0125ac5bcc61e213882e2

Auteurs

Mohd. Fuad Md. Sawari · Mustafa Mat Jubri Shamsuddin · Ahmad Akram Mahmad Robbi

Année déclarée

2025

Langue déclarée

en

Type source

article

Première détection

2026-11-14T09:37:05.542838+00:00

Dernière observation des métadonnées

2026-11-14T09:37:05.542838+00:00

Dernière vérification HTTP

Non effectuée

Institutions déclarées par la source

International Islamic University Malaysia

Pays d’affiliation déclarés

MY

Résumé documentaire — langue originale

This study develops an integrated framework harmonising Ibn Ashur's maqāṣid al-Shariah with governance principles to address Shariah-compliance challenges faced by Small and Medium Enterprises (SMEs). Despite constituting between 80-99% of businesses in Muslim-majority countries, SMEs struggle with inconsistent Shariah interpretations, operational complexity, and limited access to Shariah-compliant financing. Using qualitative methodology, the study conducts systematic textual and comparative analysis of maqasid literature and governance frameworks to identify key alignments and practical applications. The research aligns five key objectives (maqāṣid) in financial transactions (safeguarding wealth, transparency, circulation of wealth, economic stability, and justice) with contemporary governance principles to propose a practical, tiered implementation framework tailored to different SME categories—micro, small, and medium enterprises. Findings demonstrate that this integration enhances Shariah-compliance while offering SMEs pragmatic tools to navigate ethical and operational demands. The study highlights the role of digital technologies in streamlining implementation, particularly for resource-constrained businesses. It addresses a critical gap between theoretical Islamic finance principles and their practical SME implementation, advocating for standardised frameworks and collaborative stakeholder efforts to support Shariah-compliant SME growth. The research contributes to existing literature by providing actionable governance guidelines for enterprises with limited resources and demonstrating that Shariah compliance and good governance can mutually reinforce business performance and ethical integrity.

Identifiants

OPENALEX

https://openalex.org/W4414403947

DOI

10.31436/ijfus.v9i3.408

Repères documentaires

Famille documentaire

article

Types déclarés par les sources

article

Éditeurs

TechKnowledge General Trading

Les mentions d’entités ne constituent pas une preuve de reconnaissance juridique. La juridiction étudiée est distincte du pays d’affiliation des auteurs.

Sources

OpenAlex · Document 1

• Document · https://doi.org/10.31436/ijfus.v9i3.408

Statut documentaire

Pertinence à examiner

Bibliothèque

Cette identité n’est pas encore intégrée à la Bibliothèque juridique.