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Islamic Finance




Fiqh al-Nawazel


Arabic (فقه النوازل) for a branch of fiqh (Islamic jurisprudence) that tackles contemporary issues (newly emerging issues). Such issues require fiqh reasoning (ijtihad) based on usul (principles and precepts of Islamic law) due to the lack of a textual evidence on the issue (nazilah, singular of nawazel) at hand. This ijtihad is conducted by fuqaha and jurists who will try to figure out shari’ah rulings (ahkam) by consulting the main sources of shari’ah.

Nawazel are characterized by a set of features including: occurrence, novelty, significance and severity.



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The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
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