Analysis of Global Ethical Wealth Based on Maqasid al-Shari’ah: The Case of Waqf

The subject of Maqasid al-Shari’ah or objectives of Shari’ah has gained massive importance over the years. Several conferences are being held, and there are now volumes of literature on al-Maqasid related studies. The first discussion on al-Maqasid theorization started with Imam al-Juwayni. His crude theory was later refined by his student, al-Ghazali. Later, the works of Abu Ishaq al-Shatibi and Tahir ibn Ashur elaborated and expanded the Maqasid theory as presented by al-Ghazali. Thereafter, al-Maqasid gradually developed as an independent area of study (Mohammad 2019). By delving into the role of Awqaf through the lens of al-Maqasid, the study aims to achieve the following objectives: (a) to survey the literature on issues related to Waqf in relation to al-Maqasid, (b) to analyze the issues to identify the gaps for future research, (c) to provide recommendations and suggestions for future research. The study has adopted an exploratory research design. It has used a qualitative method in the literature survey and analysis based on the following steps: firstly, it uses a survey of the literature for works on Waqf and Maqasid al-Shari’ah. Secondly, it conducts a meta-analysis to identify issues and trends on Waqf in relation to Maqasid al-Shari’ah. Thirdly, it uses thematic analysis to identify gaps for future research. The chapter is structured into three parts. After the introduction, the second part reviews the related works on Waqf and Maqasid al-Shari’ah or al-Maqasid in short. The third section analyzes the role of Waqf in achieving al-Maqasid. The final section four concludes the chapter.