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This is a Case Report study (also classified as: Literature Review).

A new Islamic legal theory? Islamic commercial jurisprudence within contemporary Islamic financial institutions

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Qualitative case study reveals a new islamic legal theory in financial institutions, suggesting a framework for fatwa implementation.

The findings highlight a new islamic legal theory that includes three phases, reshaping the understanding of islamic law in contemporary contexts.
Key metrics from AAOIFI’s Shari’ah Standard No. (29) inform the core sources and analytical tools for this new legal theory.
The research employs a qualitative methodology with a case study approach to explore the conceptualization of islamic legal frameworks.
This framework may encourage broader exploration and application of islamic law, reflecting changes in the financial landscape.

Alkhan et al. (2025) studied this question.

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