"Challenges in Implementing Sharia Objectives in Banking Supervision"

Abstract

We find ourselves facing a massive jurisprudential movement in providing Islamic solutions that meet people's needs in dealing with banks without falling into usury. Humanity today is more in need than ever of someone to guide its sailing ship through the tempting and tumultuous waves of banking transactions, until it reaches the safe shores of righteousness. This research addresses the topic of  Challenges of Implementing Sharia Objectives in Banking Supervision,  starting from a major problem: How can Sharia objectives be discerned through banking transaction supervision? What are the difficulties and challenges faced by this supervision? And what are the guidelines for this supervision in the balance of Sharia objectives? This research sought to achieve this by discussing a set of ideas that establish an independent and robust institutional framework for banking transaction supervision, through which Sharia objectives can be realized. Knowledge of Sharia objectives is one of the most important and fundamental sciences, and no jurist can build a ruling without it. Misunderstandings only occur due to ignorance of it or negligence in its application. Therefore, this research touches on reality and connects between scientific theory and practical application, which is lacking in banking transactions.