Hence, this study is aimed at drawing up a specialized istinbat methodology in muamalat affairs and Islamic finance. This has resulted the decision being challenged in court. Unfortunately, problems occur when the Shariah Advisory Council (SAC) of the Central Bank, the highest governing body established by the law and has the authority in decision-making regarding Islamic finance in Malaysia, does not submit clear rules and procedures in the issuance of shariah resolutions. Notwithstanding the facts, ijtihad must be carried out on consistent methodology, so that the shariah resolutions are competitive and trustworthy. Nevertheless, the nas of the Islamic law is limited while the developments is in advance, which very need the role of ijtihad to play its function in dealing with the situation. The Islamic scholars recognize this development as in line with the changing times, in which, the objective of shariah is for the benefit of the human beings. The dynamism of muamalat affairs and Islamic finance has undergone rapid development, and that it becomes increasingly complex.
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