Abstract
The objectives of entrepreneurship in Islam are guided by the Maqasid Al-Shariah. However, there is a mismatch between Islamic entrepreneurship objectives and Maqasid Al-Shariah based on available literatures, which have not been critically investigated. This paper presents a critical review of the literature within the Islamic entrepreneurship objectives and Maqasid Al-Shariah framework. The exploratory study adopting content analysis to achieve its aim found that the existing literature covered both the Din and Mu’amalah based objectives of Islamic entrepreneurship. However, there is dearth of literature that integrates the connection between objectives of Islamic entrepreneurship and Maqasid Al-Shari’ah. It is therefore suggested that researchers should conduct more researches to examine the integration of Maqasid Al-Shariah in Islamic entrepreneurship, particularly in respect to decision making in handling entrepreneurship issues.
Highlights
The different views and issues surrounding entrepreneurship contributed to the development of researches and interest in the Islamic perspective of entrepreneurship
Islamic entrepreneurship is a more actual system which is based on the Al-Quran and Sunnah of the Prophet, Peace be Upon Him (PBUH)
This paper is a modest effort to fill this gap through highlighting the variations as well as consideration for integrating the two i.e. objectives of Islamic entrepreneurship and Maqasid Al-Shari’ah
Summary
The different views and issues surrounding entrepreneurship contributed to the development of researches and interest in the Islamic perspective of entrepreneurship. It is observed that issues affecting entrepreneurship are still addressed with little or no consideration to Islam. It is imagined that the objectives surrounding Islamic entrepreneurship or doing business are supposed to be directed by Maqasid Al-Shari’ah. There is a mismatch between the objectives of Islamic entrepreneurship and Maqasid Al-Shari’ah. This paper is a modest effort to fill this gap through highlighting the variations as well as consideration for integrating the two i.e. objectives of Islamic entrepreneurship and Maqasid Al-Shari’ah. Section one provides the brief background of the issue while section two describes the Islamic entrepreneurship in terms of definition, Islamic proof of entrepreneurship and objectives of Islamic entrepreneurship. Section three provides the definition and objectives of Maqasid Al-Shari’ah, while section four illustrates the integration between Maqasid Al-Shari’ah and objectives of Islamic entrepreneurship in a conceptual framework.
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