Arabic (فقه المعاملات) for a branch of Islamic jurisprudence (fiqh) that deals with commercial and business activities in an economy. Fiqh literally means understanding of rulings and precepts, whilst muamalat, in this particular facet, refers to economic transactions and activities such as ba’i, ijarah, istisna’a, salam, murabaha, mudaraba, etc. This branch of fiqh covers the rulings that define and govern the relationship between humans, i.e., their financial rights and obligations towards each other.
In general, fiqh muamalat can be divided into three main categories:
- Ahkam al-siyasah and al-jinayat: rulings and regulations related to the political and criminal law.
- Al-ahwal al-shakhsiyah: rules and regulations associated with family law.
- Ahkam al-iqtisad wa al-muamalah: rulings governing the commercial transactions, exchange, contracts and agreements and how humans deal with each other as far as financial rights and obligations are concerned.
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