Maṣlaḥa in Contemporary Islamic Legal Theory

Abstract

This article is a search for the concept of interest in contemporary Islamic law theory. After reviewing a number of approaches that dealt with interest, such as those formulated by Al-Ghazali, Fakhr Al-Din Al-Razi, Al-Qarafi, Al-Tufi, and Al-Shatibi, the article deals with the writings concerned with interest authored by a number of prominent jurists, such as Al-Qasimi, Rashid Rida, Al-Muhamasani, Allal Al-Fassi, Khalaf and Al-Bouti, from the end of the 19^th (13^th Hijri) century until the 1960s (1380s AH). The results of the research show that the pioneers of reform chose to adopt Al-Tawfi’s approach based on an expanded understanding of the interest's role in legislation. On the other hand, the jurists who appeared at a later stage tended to call for the adoption of a comprehensive approach similar to that of Al-Shatibi or to call for the adoption of an approach that imposes more restrictions on the use of interest, following the proposition of Al-Ghazali and Al-Razi. The methodology of the jurists in implementing the rule of interest was not arbitrary, but was based on a number of considerations, especially the type of study they received, their personal status, and the prevailing historical circumstances.