The Role of Maqasid Al-Shariah in Defining and Prohibiting Riba

Subtitles for the Journal Article Based on the content of the journal, "The Role of Maqasid Al-Shariah in Defining and Prohibiting Riba," here are the key section headings (subtitles) you could use: ABSTRACT INTRODUCTION RESEARCH METHODOLOGY RIBA AS AN ANTITHESIS TO MAQASID AL-SHARIAH This section covers the conceptual foundation of prohibiting riba and critiques modern attempts to distinguish it from permissible bank interest. THE FIVE PILLARS OF PROHIBITION: APPLYING MAQASID TO ALL ASPECTS OF HUMAN WELFARE Protection of Religion (Hifz al-Din) Protection of Life (Hifz al-Nafs) Protection of Intellect (Hifz al-'Aql) Protection of Lineage (Hifz al-Nasl) Protection of Wealth (Hifz al-Mal) THE NUANCES OF APPLICATION IN FINANCIAL TRANSACTIONS This section discusses the role of "micro-maqasid" and the challenges of subjectivity in applying the framework. PSYCHOLOGICAL AND SOCIETAL HARMS: THE DEEPER CONSEQUENCES OF RIBA This section focuses on the "psychology of riba" and its impact on wealth concentration and social inequality. CONTEMPORARY CHALLENGES: CRITIQUES AND REFORMS IN ISLAMIC FINANCE This section addresses "pseudo-Islamic" products, the dominance of debt-based instruments, and the need for reform. CONCLUSION BIBLIOGRAFI

Abstract

This study explores the role of Maqasid al-Shariah in defining and prohibiting riba (usury) by moving beyond a purely legalistic understanding toward an integrated ethical, psychological, and socio-economic perspective. Through a library-based qualitative analysis of classical and contemporary literature, the research identifies how the prohibition of riba serves to uphold the five universal objectives of Shariah protection of religion (hifz al-din), life (hifz al-nafs), intellect (hifz al-‘aql), lineage (hifz al-nasl), and wealth (hifz al-mal). The findings reveal that riba undermines every dimension of human welfare: it erodes spiritual integrity, fosters economic exploitation, distorts rational judgment, perpetuates intergenerational injustice, and concentrates wealth among elites. The study also critiques the prevalence of “pseudo-Islamic” financial instruments that imitate conventional interest-based systems, thereby weakening the ethical essence of Islamic finance. By re-establishing the connection between maqasid principles and financial practice, the research proposes a holistic framework that ensures the prohibition of riba functions as a moral safeguard promoting distributive justice, transparency, and social well-being. Ultimately, this approach reaffirms that the true spirit of Islamic finance lies in realizing the higher objectives of Shariah rather than formalistic compliance alone.