ANALYSIS OF ḤIYAL (LEGAL STRATAGEMS) CASES IN ISLAMIC FINANCIAL LAW

Ḥiyal (legal stratagems) means to meet a permissible end through a legal but unconventional way. It has a wide application in today’s Islamic finance versatile cutting-edge issues. The research objective of this study is to explore and analyze the behavior and tendency of jurists in the application of Ḥiyal (legal stratagems) in Islamic financial law in the problem-solving procedure. The research applies the content analysis method to analyze thirteen cases of financial matters stratagems, purposively sampled from authentic Ḥiyal compilations of reputable jurists. The findings of the analysis are generally, in accordance with the principles set by the jurists for advising stratagems and way outs. They have practiced considerable Shari’ah engineering in dire and general hardship cases to relax the strict bindings on the follower. In some cases, the exactly intended contract by the parties is transformed by adding a contract retaining Maqsad-e-Shari’ah. These findings are crucial for Shari’ah advisors and scholars in identifying their conduct while relaxing a stern directive of Shari’ah.