{"id":{"repo_id":"vu-aus","oai_identifier":"oai:eprints.vu.edu.au:25079"},"canonical_url":"https://search.dev.ndltd.org/etd/vu-aus/oai:eprints.vu.edu.au:25079","repository":{"repo_id":"vu-aus","name":"Victoria University (Australia)","base_url":"https://vuir.vu.edu.au/cgi/oai2"},"display":{"title":"Maslaha: a New Approach for Islamic Bonds","abstract":"Islamic finance is inextricably linked to Islamic law, or sharia, which is richly detailed and difficult to distil into simple rules. In particular, it invokes the concept of maslaha to prohibit or permit actions and choices on the basis of whether or not it serves the best interest of the community at large. This aspect of Islamic finance has not been addressed and the purpose of this thesis is to fill this gap in knowledge. This thesis conducts a comprehensive investigation of application of the concept of maslaha as a new approach for Islamic bonds in theory and practice. Integrated into this is a comprehensive analysis of sharia auditing where knowledge in the areas of Islamic economics, finance, and law are brought together to articulate a holistic framework for Islamic finance. The thesis argues that the concept of maslaha must be applied in its entirety in determining sharia compliance of financial contracts in order to avoid increasing the level of risk faced by the participants in the Islamic finance sector. Impaired contracts, apart from increasing the level of risk, increase the probability of costly litigations and diminish the degree of market competitiveness of Islamic financial products.","abstract_html":"Islamic finance is inextricably linked to Islamic law, or sharia, which is richly detailed and difficult to distil into simple rules. In particular, it invokes the concept of maslaha to prohibit or permit actions and choices on the basis of whether or not it serves the best interest of the community at large. This aspect of Islamic finance has not been addressed and the purpose of this thesis is to fill this gap in knowledge. This thesis conducts a comprehensive investigation of application of the concept of maslaha as a new approach for Islamic bonds in theory and practice. Integrated into this is a comprehensive analysis of sharia auditing where knowledge in the areas of Islamic economics, finance, and law are brought together to articulate a holistic framework for Islamic finance. The thesis argues that the concept of maslaha must be applied in its entirety in determining sharia compliance of financial contracts in order to avoid increasing the level of risk faced by the participants in the Islamic finance sector. Impaired contracts, apart from increasing the level of risk, increase the probability of costly litigations and diminish the degree of market competitiveness of Islamic financial products.","abstract_has_math":false,"creators":["Alshelfan, Ayman Ibrahim"],"institution":"Victoria University","degree_name":"phd","degree_level":"doctoral","degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2014,"date_issued":"2014","date_published":"2014","updated_at":"2026-07-24T06:33:34Z","subjects":["1402 Applied Economics","1501 Accounting, Auditing and Accountability","College of Business"],"languages":["en"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":null,"outbound_label":null,"outbound_source":null},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:creator","label":"Author","values":["Alshelfan, Ayman Ibrahim"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2014"]},{"key":"dc:date.issued","label":"Date","values":["2014"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["College of Business"]},{"key":"dc:publisher.institution","label":"Dc Publisher Institution","values":["Victoria University"]},{"key":"dc:relation.isreferencedby","label":"Dc Relation Isreferencedby","values":["https://vuir.vu.edu.au/25079/"]},{"key":"dc:type","label":"Dc Type","values":["Thesis"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["doctoral"]},{"key":"dc:type.qualificationname","label":"Dc Type Qualificationname","values":["phd"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["1402 Applied Economics","1501 Accounting, Auditing and Accountability","College of Business"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["en"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://vuir.vu.edu.au/25079/1/Ayman%20Ibrahim%20Alshelfan.pdf"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["Islamic finance is inextricably linked to Islamic law, or sharia, which is richly detailed and difficult to distil into simple rules. In particular, it invokes the concept of maslaha to prohibit or permit actions and choices on the basis of whether or not it serves the best interest of the community at large. This aspect of Islamic finance has not been addressed and the purpose of this thesis is to fill this gap in knowledge. This thesis conducts a comprehensive investigation of application of the concept of maslaha as a new approach for Islamic bonds in theory and practice. Integrated into this is a comprehensive analysis of sharia auditing where knowledge in the areas of Islamic economics, finance, and law are brought together to articulate a holistic framework for Islamic finance. The thesis argues that the concept of maslaha must be applied in its entirety in determining sharia compliance of financial contracts in order to avoid increasing the level of risk faced by the participants in the Islamic finance sector. Impaired contracts, apart from increasing the level of risk, increase the probability of costly litigations and diminish the degree of market competitiveness of Islamic financial products."]},{"key":"dc:format","label":"Dc Format","values":["text"]},{"key":"dc:title","label":"Title","values":["Maslaha: a New Approach for Islamic Bonds"]}]}],"canonical_facts":{"dc:creator":["Alshelfan, Ayman Ibrahim"],"dc:date":["2014"],"dc:date.issued":["2014"],"dc:description.abstract":["Islamic finance is inextricably linked to Islamic law, or sharia, which is richly detailed and difficult to distil into simple rules. In particular, it invokes the concept of maslaha to prohibit or permit actions and choices on the basis of whether or not it serves the best interest of the community at large. This aspect of Islamic finance has not been addressed and the purpose of this thesis is to fill this gap in knowledge. This thesis conducts a comprehensive investigation of application of the concept of maslaha as a new approach for Islamic bonds in theory and practice. Integrated into this is a comprehensive analysis of sharia auditing where knowledge in the areas of Islamic economics, finance, and law are brought together to articulate a holistic framework for Islamic finance. The thesis argues that the concept of maslaha must be applied in its entirety in determining sharia compliance of financial contracts in order to avoid increasing the level of risk faced by the participants in the Islamic finance sector. Impaired contracts, apart from increasing the level of risk, increase the probability of costly litigations and diminish the degree of market competitiveness of Islamic financial products."],"dc:format":["text"],"dc:identifier.uri":["https://vuir.vu.edu.au/25079/1/Ayman%20Ibrahim%20Alshelfan.pdf"],"dc:language":["en"],"dc:publisher.department":["College of Business"],"dc:publisher.institution":["Victoria University"],"dc:relation.isreferencedby":["https://vuir.vu.edu.au/25079/"],"dc:subject":["1402 Applied Economics","1501 Accounting, Auditing and Accountability","College of Business"],"dc:title":["Maslaha: a New Approach for Islamic Bonds"],"dc:type":["Thesis"],"dc:type.qualificationlevel":["doctoral"],"dc:type.qualificationname":["phd"]},"updated_at":"2026-07-24T06:33:34Z"}