The Shariah teachings emphasize strongly on preserving one's wealth. Hence, it has

prescribed certain parameters such as for the ownership to be legally recognized and has

outlined specific punishments for transgressing the right of others. Besides that, the

Quran and Sunnah have also elaborated on the importance of wealth creation in Islam by

setting the parameters on the responsibility of those who have adequate means to help

those who are less fortunate.

Requirement:

a) Discuss shortly your understanding about Maqasid as Shariah and their application in

Islamic Finance.

b) Which one is better, debt financing or equity financing? short note on some kinds

of contracts of participation (equity financing/profit sharing) under Muamalat.