An Assessment of Ijara Financing Product of Ja'iz Bank in the Light of Maqasid Al-shari'ah
Year: 2024
Type: article
Abstract: This study assesses Ja'iz Bank's Ijarah financing products through the lens of the Maqasid Al-Shari'ah framework. A quantitative methods approach was employed, A purposive sampling technique was used to select 389 respondents from the 75,088 population. Data was collected using a questionnaire, and multiple regression analysis was applied to examine the alignment of Ja'iz Bank's Ijarah financing products with maqasid al-Shari'ah. The findings reveal that Ja'iz Bank's Ijarah product addresses key objectives of maqasid al-Shari'ah, including the transfer of property rights, promotion of ownership, and welfare enhancement for customers. The study recommends that Islamic financial institutions, regulators, shareholders, and stakeholders ensure that all products offered by Islamic banks comply with Shariah objectives. Furthermore, Islamic banks should prioritize social welfare and protect societal needs, rather than solely focusing on profit maximization.
Author: Department of Finance, Bayero University Kano, Nigeria
Institution: Bayero University Kano
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W6930983195
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