Al-Majmu' fi al-Iqtisad al-Islami (Book)

Author: Abd al-Hadi Fayyaz

Al-Majmu' fi al-Iqtisad al-Islami
Book Information
Author	Rafiq Yunus al-Masri
Subject	Books on Economic Jurisprudence
Language	Arabic
Pages	623
Publication Information
Publisher	Dar al-Maktabi

• Abstract

Al-Majmu' fi al-Iqtisad al-Islami (المجموع فی الاقتصاد الاسلامی) is a research work in the field of economic jurisprudence written by Rafiq Yunus al-Masri. This book provides a comprehensive report of the theoretical framework and practical topics of Islamic economics in the light of Sunni jurisprudence (fiqh). The author, with a clear inclination toward the Shafi'i school of jurisprudence, has attempted to reinterpret and analyze concepts such as ownership, the market, the legitimacy of financial contracts, and the role of the state in the economy, based on jurisprudential maxims (qawa'id fiqhiyyah) such as "harm must be eliminated" (al-darar yuzal) and "gain is accompanied by liability for loss" (al-ghunm bi al-ghurm).

The author's central idea is that the Islamic economy is not merely a collection of scattered rulings concerning transactions; rather, it possesses an independent, purposeful structure aimed at regulating social relations in the spheres of production, distribution, and consumption. He clarifies that Islamic economics should not be equated with the "jurisprudence of transactions" (fiqh al-mu'amalat). He considers the economic system of Islam to be based neither on absolute state intervention nor on the absolute freedom of the market, but introduces it as an "ethics-centered" system in which both Sharia rules and ethical principles oversee the regulation of economic relations.

The structure of the book is organized in an intra-jurisprudential manner and addresses economic issues from an inferential (ijtihadi) perspective, without entering into the technical discussions of modern economics. The reliance on classical sources, the coherence of arguments, and the breadth of topics have turned this work into one of the prominent Arabic sources in the field of economic jurisprudence (fiqh al-iqtisad), although it has limitations from the perspective of macroeconomic theorization.

Brief Overview and Status

The book Al-Majmu' fi al-Iqtisad al-Islami, authored by Rafiq Yunus al-Masri, was published in 2006 (1426 AH) by Dar al-Maktabi in Damascus. This work is written in a single volume comprising 623 pages, and endeavors to organize a relatively complete collection of topics in economic jurisprudence within the framework of Sunni *ijtihad*. The author, contrary to the customary method in some texts on the jurisprudence of transactions, does not enter into jurisprudential chapters from the beginning; rather, he first attempts to provide a theoretical and principled picture of Islamic economics and elucidate its foundations from a jurisprudential perspective. The book has a systematic and intra-jurisprudential structure that the author has founded upon an *ijtihadi* path. Instead of initially addressing the details of jurisprudence or transactional rulings, the author begins with theoretical topics and attempts to clarify the intellectual foundations and jurisprudential principles governing the Islamic economic system.

The word "Al-Majmu'" (The Comprehensive Collection) in the book's title is indicative of the author's holistic approach; he intended to present not merely the jurisprudential rulings of transactions, but the foundations, objectives, maxims, structure, and acceptable tools in the Islamic economy under a single theoretical-jurisprudential framework. This work cannot be considered merely a commentary on the jurisprudence of transactions (fiqh al-mu'amalat); rather, it is a kind of effort to present a "coherent jurisprudential picture of the Islamic economic system."

Rafiq Yunus al-Masri, a contemporary Syrian author, is among the active figures in the contemporary Arabic economic jurisprudence sphere and has numerous works in the fields of Islamic banking, financial contracts, and Islamic economic theories. Al-Masri has been active for years in the academic circles of Syria and Lebanon and has also served as an advisor in some Islamic financial institutions at the regional level.

The significance of the book Al-Majmu' can be evaluated from several aspects:

• First, due to its structural order and effort to organize economic topics within the framework of principled jurisprudential maxims (qawa'id usuliyyah fiqhiyyah);
• Second, because the author has strived to move beyond the level of jurisprudential branches (furu') and approach the level of economic system-building;
• And third, because of the book's status in the Arabic-speaking educational and research environment, especially in universities and Islamic studies centers.

Although this work has not received much attention in the Persian-speaking academic sphere and few references to it are seen, in recent decades in Arab environments, particularly in subjects such as Islamic banking, it has been recognized as a preliminary and systematic reference.

Structure

The book Al-Majmu' fi al-Iqtisad al-Islami is structured in the form of an introduction and 8 main chapters. The structure of the book, from beginning to end, is based on the internal coherence of the topics, the precedence of foundations over branches (furu'), and a holistic view of the Islamic economy.

• At the beginning of the book, an introductory discussion regarding the nature of Islamic economics and its relationship with the jurisprudence of transactions is presented; with the aim of clarifying that the author's view of Islamic economics is not merely micro-jurisprudence or individual rulings, but also pays attention to structural and social aspects (p. 9).
• After the introduction, a set of general jurisprudential maxims that play a central role in the economic sphere, such as the maxim of the negation of harm (qa'idat nafy al-darar), the maxim of uncertainty (qa'idat al-gharar), the principle of permissibility in transactions (asl al-ibahah fi al-mu'amalat), and the maxim of removing hardship (qa'idat raf' al-haraj) are examined (p. 21). These maxims are considered the basis for analyzing many economic issues in the subsequent chapters of the book.
• Subsequently, the author analyzes topics such as justice, ownership, expediency (maslahah), the objectives of Sharia (maqasid al-shari'ah), economic freedom, and the role of the state in the Islamic economy (p. 57). This section of the book practically presents the theoretical dimension of the Islamic economic system based on jurisprudential and principled foundations, and in a way, constitutes the intellectual pillar of the entire work.
• The middle section of the book is dedicated to examining the rulings and structure of the Islamic market. In this section, the author analyzes rulings related to transactions, pricing, hoarding (ihtikar), state supervision, and the legitimacy of incomes with a jurisprudential and social perspective, striving to maintain the connection between jurisprudential logic and economic function (p. 131).
• Following that, the author examines legitimate contracts and financing instruments; such as sale (bay'), leasing (ijarah), silent partnership (mudarabah), forward sale (salam), partnership (shirkah), interest-free loan (qard al-hasan), etc. In the analysis of each of these instruments, both the jurisprudential foundations are emphasized, and their applied capabilities in the Islamic banking system are mentioned (p. 227).
• In parts of the book, there are references to the characteristics of Islamic financial institutions, their differences from usurious banking (bankdari-yi rabawi), and the role of the state in the distribution of wealth (p. 325 onwards). Furthermore, the concept of matters such as charitable spending (infaq), extravagance (israf), productivity, production, and consumption are also analyzed within the framework of jurisprudential rulings.
• At the end of the book, by concluding the discussions, the author emphasizes the necessity of jurisprudential rethinking in the economic sphere and calls for economic jurisprudence to achieve theoretical reconstruction in accordance with the developments of the time (Conclusion, p. 499 onwards).

Conceptual Framework and Jurisprudential Approach to Economics

From the very beginning in the book Al-Majmu' fi al-Iqtisad al-Islami, the author has emphasized that the Islamic economy is not merely a collection of scattered rulings concerning transactions, but possesses an independent, purposeful structure aimed at regulating social relations in the spheres of production, distribution, and consumption. He clarifies that Islamic economics should not be equated with the "jurisprudence of transactions" (fiqh al-mu'amalat); rather, it must be redefined in the form of "economic jurisprudence" (fiqh al-iqtisad); a discipline that seeks to reconstruct the principles and rules of the Islamic economic system within the framework of jurisprudential *ijtihad*. The author has utilized the term "economic jurisprudence" to clarify his methodological boundary with those who merely content themselves with expounding the jurisprudential rulings of transactions. This expression demonstrates that he is seeking to present an intra-jurisprudential system for the Islamic economy, not merely compiling economic rulings.

In this regard, Al-Masri has attempted to extract the operational principles of the Islamic economy by utilizing jurisprudential maxims, such as "harm must be eliminated" (al-darar yuzal), "gain is accompanied by liability for loss" (al-ghunm bi al-ghurm), "hardship is removed" (al-haraj marfu), and "the foundational principle in transactions is permissibility" (al-asl fi al-mu'amalat al-ibahah). He believes that these general maxims possess the power to explain many economic issues if properly employed within a systemic framework. In other words, his book is an endeavor to transition from the jurisprudence of branches (fiqh al-furu) toward the jurisprudence of maxims (fiqh al-qawa'id). In the author's view, *ijtihad* regarding contemporary economic issues must be conducted in light of these maxims and with attention to the objectives of Sharia (maqasid al-shari'ah). In numerous instances, he has emphasized the role of these objectives in regulating economic jurisprudential maxims, particularly in issues such as distributive justice, poverty eradication, and support for legitimate production. This emphasis indicates that the author has an inclination toward a "structural objective-based jurisprudence" (fiqh maqasidi-yi sakhtari), although he does not employ this exact terminology.

At the beginning of the book, he considers the economic system of Islam to be based neither on absolute state intervention nor on the absolute freedom of the market, but introduces it as an "ethics-centered" system in which both Sharia rules and ethical principles oversee the regulation of economic relations. Therefore, in Al-Masri's analysis of the Islamic economy, two levels of regulation are observed: one is the level of binding jurisprudential rules, and the other is the level of complementary ethical norms. A notable point is that the author, while emphasizing the internality of sources (namely the Quran, Sunnah, consensus [*ijma'*], and analogy [*qiyas*]), is also aware of the concepts of some conventional economic theories, but generally does not utilize them in the context of analysis. He considers the Islamic economy to possess an "independent identity" that requires *ijtihadi* reconstruction, rather than integration with existing systems (pp. 11-12).

Market Legitimacy and the Order of Transactions

One of the important sections of the book is the analysis of the market's role in the Islamic economy and the jurisprudential criteria regulating it. Rafiq Yunus considers the market a legitimate institution within the framework of Islam that officially recognizes economic freedom, but simultaneously conditions it upon the observance of rules that prevent oppression, corruption, and disruption in distribution. According to him, the maxim "the foundational principle in transactions is permissibility" (al-asl fi al-mu'amalat al-ibahah) is the basis of this freedom, but this freedom is restricted by maxims such as "no harm" (la darar) and "the removal of uncertainty" (raf' al-gharar). (pp. 133-140)

In discussing financial transactions, the author has emphasized that the condition for the legitimacy of any transaction is the realization of mutual consent, the removal of ambiguity, the non-collection of interest (riba), and compliance with the rules of economic justice. He believes that the Islamic market is neither free from supervision nor completely state-controlled; rather, it is based on a kind of balance between state intervention and the internal mechanisms of the market. In this regard, Al-Masri has addressed the issues of hoarding (ihtikar), overpricing (garan-furushi), fraud, and pricing. Relying on hadiths and the edicts (fatawa) of Shafi'i jurists, he has deemed state intervention in price determination legitimate under conditions of emergency or corruption. His argument is primarily based on the maxim of "giving precedence to public interest over individual interest" (taqdim al-maslahah al-'ammah 'ala al-maslahah al-fardiyyah), which he analyzes within the framework of the jurisprudence of public interests (fiqh al-masalih) (pp. 157-175).

On the one hand, the author has emphasized the principle of "legitimate earning" (kasb-i mashru'), and on the other hand, he has explicitly criticized the "dominance of speculative reason without ethical commitment" in capitalist economics. In his view, the market in the Islamic economy is both an institution for resource allocation and a tool for realizing justice. This dual perspective on the market is repeated throughout his analysis.

Legitimate Financing Instruments

An important chapter of the book is dedicated to examining legitimate financial contracts in the Islamic economy. The author asserts in this chapter that the Islamic economic system, despite the prohibition of interest (riba), provides numerous instruments for sound and participatory financing. His analysis focuses on eight fundamental contracts: sale (bay), lease (ijarah), silent partnership (mudarabah), partnership (musharakah), forward sale (salam), manufacturing contract (istisna), interest-free loan (qard al-hasan), and agency (wakalah). In examining each contract, the author first analyzes its jurisprudential basis by referencing verses (ayat), narrations (riwayat), and the statements of jurists, and then addresses its conditions of validity and areas of application. For instance, regarding *mudarabah*, he considers it one of the prominent financing instruments in Islam which, by sharing profit and accepting risk on the part of the owner and the agent, is considered a legitimate alternative to usurious lending (pp. 268-281).

In analyzing the *salam* sale, his emphasis is on the role of this contract in supporting production and providing advance financing for the producer; and concerning *ijarah* and *istisna'*, he points to the function of these instruments in infrastructural and industrial projects. In all these cases, the author attempts to make the connection between the jurisprudence of contracts and contemporary needs possible through an expansive interpretation of jurisprudential maxims.

A key point in Al-Masri's approach is the emphasis on the non-necessity of the superficial conformity of Islamic instruments with Western financial systems. He believes that any adaptation is legitimate only if the spirit of jurisprudential rules and the objectives of Sharia are preserved; otherwise, according to him, it would be a "Sharia facade for the face of usury" (a religious loophole for *riba) (p. 293).

In this chapter, while relying on jurisprudential edicts (fatawa), the author also pays attention to banking innovations, but primarily from the perspective of Sharia legitimation, not economic analysis. For this reason, his analyses are more jurisprudence-centered than economics-centered, emphasizing the legitimacy of the instrument more than its efficiency.

State, Justice, and Objectives of Sharia in the Islamic Economic System

In the view of Rafiq Yunus al-Masri, the Islamic state is not solely an observer over the proper implementation of rulings, but is one of the main elements in regulating economic relations; provided that its intervention is limited, purposeful, and aligned with the realization of justice. In the middle sections of the book (particularly from p. 325 onwards), he examines the role of the state in three fundamental areas: the equitable distribution of wealth, market supervision, and the financing of public services.

From the author's perspective, instruments such as alms (zakat), the one-fifth tax (khums), fair taxes, obligatory charities (sadaqat-i wajib), and public properties (amwal-i 'umumiyyah) must be placed in the service of wealth redistribution. He has addressed these resources in relative detail and considered them complementary to each other, not alternatives. In his view, the legitimacy of levying taxes in the Islamic system hinges on observing public interests and preventing economic corruption. For instance, in discussing public expenditures, by citing the maxim "the ruler's disposal over people's properties is contingent upon public interest" (tasarruf al-hakim fi amwal al-nas manut bi al-maslahah), he emphasizes the legitimacy of state financing through non-*zakat* avenues under emergency conditions (pp. 348-352).

Al-Masri views economic justice not merely in the sense of equality in income, but in the distribution of opportunities, supporting the needy, and limiting the concentration of wealth. In numerous instances, he has cited verses and narrations that indicate the condemnation of wealth accumulation and the encouragement of charitable spending (infaq) and cooperation (ta'awun). He considers this approach part of the "social objectives of Sharia" (maqasid al-shari'ah al-ijtima'iyyah) that must be factored into economic policymaking.

In Al-Masri's analysis, economic justice is realized not through the expropriation of private ownership, but through controlling speculative motives, preventing hoarding, supervising prices, and directing resources toward lawful (halal) production. In this context, he has used terms such as "faithful economy," "non-socialist supportive system," and "the balance between individual right and public interest." These expressions show that his approach is an emphasis on the boundary between the Islamic economy and absolute socialist or capitalist models.

Methodologically, the author endeavors to establish a link between jurisprudential maxims and the macro-objectives of the Islamic economy. In other words, he not only pays attention to rulings, but also connects them with general objectives such as eradicating poverty, supporting the weak, realizing human dignity, and preserving social balance. For example, in discussing charitable spending and alms, he also points to the psycho-social role of these institutions in strengthening social cohesion (pp. 386-392).

From the author's standpoint, the Islamic state has the duty to prevent the formation of monopolies, economic discrimination, and structural inequality through active yet limited supervision. However, he emphasizes that the instrument of this supervision must remain within the framework of Sharia rules and not lead to economic despotism. This perspective is the sum of Islamic political jurisprudence and the principles of economic justice in his view.

Conclusion, Methodological View, and the Horizon of Economic Jurisprudence

In the final chapter of the book, Al-Masri once again emphasizes the point that the Islamic economy is an independent intellectual-practical system that must be reconstructed on the basis of methodical jurisprudential *ijtihad*. He believes that until jurisprudential maxims are analyzed from a macro perspective and in connection with economic structures, economic jurisprudence will remain at the level of partial rulings and individual issues and will be incapable of responding to the systemic needs of Islamic societies (pp. 503-505).

In various instances throughout the book, the author has attempted to demonstrate that he has moved beyond "issue-centered jurisprudence" (fiqh-i mas'alah-mihwar) and is pursuing "structure-centered jurisprudence" (fiqh-i sakhtar-mihwar); a jurisprudence that concurrently considers general maxims, the objectives of Sharia, and newly emerged economic realities. For this reason, in different chapters, he has not merely contented himself with edicts (fatawa) or case-by-case analysis, but has sought to present a framework of Islamic economic relations, rules, and principles; particularly through jurisprudential maxims and the theory of objectives (maqasid).

Among his final emphases is the necessity of revising economic *ijtihad* relying on three axes: first, rereading jurisprudential sources with an objective-based (maqasidi) approach; second, precisely recognizing current economic structures; and third, training jurists who are also familiar with the language of modern economics. He has clarified that without the jurist's familiarity with the fundamental concepts of economics, *ijtihad* in this domain will be incomplete and sometimes deviant (p. 508).

In this same vein, Al-Masri has suggested that the teaching of Islamic economics in religious and seminary institutions be expanded, and interdisciplinary studies between jurisprudence and economics be strengthened. This perspective is a reflection of a concern seen throughout the book: bringing jurisprudence closer to economic reality without breaking away from the Sharia framework.

Although no independent discussion regarding economic system-building or the design of executive policies is seen in his book, he has altogether endeavored to provide a jurisprudential foundation for what he himself terms the "Islamic economic system." The repetition of the discussion on general maxims, fundamental concepts (such as expediency, justice, cooperation, the legitimacy of wealth), and alternative instruments for usurious financing demonstrates that the author seeks to remain faithful not only to rulings but also to the approach and spirit of Islamic economic jurisprudence.

Methodologically, Al-Masri utilizes a combination of the Shafi'i *ijtihadi* tradition with an emphasis on objective-based (maqasidi) maxims, and in some topics, implicitly displays a critical inclination toward liberal capitalism. Concurrently, his approach remains conservative and intra-jurisprudential, entering less into the arena of economic theorization or modeling.

Academic Critiques and Final Summary

Despite the structural strengths and intra-jurisprudential coherence of the book Al-Majmu' fi al-Iqtisad al-Islami, some critics have made observations regarding its limitations in the realm of theorization and dialogue with modern economics and other jurisprudential schools. Among these critiques is the overemphasis on the traditional framework of jurisprudential maxims and the relative disregard for contemporary economic analyses; such that macroeconomic topics like fiscal policies, economic growth, or market analysis within the framework of modern economic methodology are less reflected. Additionally, some researchers like Abd al-Halim Abu Shuqqah have emphasized the point that although the author skillfully utilizes jurisprudential maxims, he approaches structural *ijtihad* to a lesser extent when it comes to application to newly emerged issues (masa'il mustahdathah).

From the perspective of policymaking as well, the book does not provide clear guidance in determining the relationship between jurisprudential rulings and the executive decision-making system, remaining more focused on the legislative layer. Furthermore, the limited references to other Islamic denominations (madhahib) have caused the book to be a subject of debate in terms of jurisprudential diversity, and its Shafi'i-centric viewpoint has given less room for inter-denominational dialogues in Islamic economics. Nevertheless, the present work is considered among Arabic works on Islamic economics as one of the relatively successful examples in the systematic and educational compilation of economic jurisprudence.