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What are the sources of Islamic Commercial Law?

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Question added by Hatem AlHajery , Finance and Accounting Trainer , Freelancer
Date Posted: 2015/07/20
Mohammed Al Othman
by Mohammed Al Othman , Chief Financial Officer , Gulf Group Holding

Quran, and Sunna are the main sources. The Ph

rophet صلى الله عليه وسلم taught these revelations to his  students (companion) and they -in turn- taught it to their students تابعين . Now those relayed these teachings to the famous  scholars. These scholars wrote the islamic jurisprudence ( fiqh). The  major ulama have traditionally four schools although there are many scholars but the mostly followed were the four schools of Imam Abu Haneefa, Imam Malik, Imam al Shafeie, and Imam Ahmad.

This whole process took place during  the peak years of Islam (the purest of centuries). This process follows a very systematic and scientific coding for classifying the trustworthines and competence of all peole involved.

i can go on but 

Deleted user
by Deleted user

Primary Sources: Quran and Sunnah

Secondary Sources: Ijma, Ijtehad, Qiyas and Urf.

Nuridin Islam Diab
by Nuridin Islam Diab , Training Manager , Bbusinesss LLE

The Holy Qur'an

The Sunnah Prophet MuHammad Sallal-Laahu ^Alayhi Wa Sallam

The Consensus of the Scholars (Ijma^)

The Ijtihad of the Scholars who have the rank of Ijtihaad (Examples: Imam Malik, Imam AHmed, Imam Ash-Shafi^y and Imam Abu Haneefah)

rakibul islam
by rakibul islam , Finance Manager , Shield Group

Al Quran , And  the sunnah of Prophet Mohammad (SAW)

Waqas Bin  Nazir
by Waqas Bin Nazir , Admin and Accountant , Dar e arqam School

QURAN & SUNA ARE THE MAIN SOURCES OF ISLAMIC COMMERCIAL LAW.

Sohaib Khan
by Sohaib Khan , Area Credit Manager – Corporate Islamic , Bank Alfalah Limited

1- Quran

2- Sunnah

3- Ijma (consensus)

4- Qiyas (Analogy)

Ramy abougerisha
by Ramy abougerisha , Key Account Manager , paymob accept

Holy Quran - sunna prophet mohamed - shariaa

MAZHAR SAIFUDDIN KHOKHAWALA
by MAZHAR SAIFUDDIN KHOKHAWALA , Senior Executive Relationship Manager , Burgan Bank

Principally, Quran and also Sunnah Prophet MuHammad (S.A.W)

منال محمد
by منال محمد , Technology Teacher/Technology Coordinator , Aljeel

The answer will be so long >>

but we can summarize it in 4 points 

1- Quraan   2- Sunnah    3- Ijma which means the agreement of Islamic scholars in some new actions , under the role of Quraan and Sunna       4- Ijtehad    5- Qiyas

Quran, and Sunna are the main sources. There is however ijtihad, ijma , urf among others.

Note

since quran and sunnah are the major sources, other sources are only referred to only in circumstances where quran and sunnah are silent.

sunnah in this context is used in refernce to the acts, words and silent approvals of prophet muhammad [peace be upon him]

Sriran Subhramanyam
by Sriran Subhramanyam , Banking Consultant , Tata Consutancy Services

Islamic Shariat Law directs the transactions of Islamic Commerce

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