The authority of the sunnah and its applications in financial transactions

Wan Zin, Wan Farhana Wadho'ah and Zulkepli, Muhammad Amar Hidayat and Mat Jali, Wan Nur Ain Syafiqa and Zakaria, Ahmad Asyraf Akmal and Zamri, Muhammad Zikril Hakimi (2024) The authority of the sunnah and its applications in financial transactions. [Student Project] (Unpublished)
Abstract

The Sunnah is the second source of Sharia after the Quran. The Sunnah contains elements of revelation that the Prophet (peace be upon him) did not speak of or practice religious matters based on his own whims. On the other hand, his words and deeds are based on the command of Allah. Therefore, the Sunnah is considered a reliable source of Sharia. In addition, not all words or actions attributed to the Prophet, peace be upon him, can be easily considered Sunnah, unless they have undergone a process of verification to prove their authenticity by hadith scholars (Asni, 2017). The Sunnah plays a very important role in the construction of Sharia law, as it is one of the main arguments used in the science of usul al-fiqh, although usul al-fiqh is the science that discusses the legal process instinctively and is a necessity for those who work in the field of legal production more - and more in the field of Islamic finance. In today's increasingly complex world, financial transactions have become an important part of daily life, whether in buying and selling, investing, or personal financial management. However, for Muslims, financial transactions do not focus solely on material gains, but also take into account spiritual and ethical aspects that are in line with the teachings of Islam.

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