Student ID : ………………… Desk Number : …………………

MASTERS/MSc IN ISLAMIC FINANCE

JANUARY 2015 SEMESTER

FINAL EXAMINATION

MODULE : USUL FIQH AND QAWAID FIQHIYYAH

CODE : FQ5113

DAY/DATE : WEDNESDAY / MAY 6, 2015

TIME/HOUR : 2.00PM – 5.00PM / THREE (3) HOURS

Instructions to candidates: 1. Answer ALL Questions in PART A and THREE (3) Questions in PART B.

2. Answer ALL Questions in the Answer Booklet provided. Start each answer

on a new page.

3. You are given FIFTEEN (15) minutes to go through and read the questions, but

you are NOT allowed to write during this time.

4. Please write down your answers legibly.

5. During this time, INCEIF’s Academic Regulation on academic dishonesty applies.

6. Do not bring any material into the examination hall unless permission is given by

the invigilator.

7. Please check to make sure that this examination pack consists of :

a. The Question Paper; and

b. An Answer Booklet – provided by INCEIF.

This examination paper consists of THREE (3) printed pages including the cover page.

DO NOT TURN THIS PAGE UNTIL INSTRUCTED TO DO SO. THIS QUESTION PAPER MUST NOT BE REMOVED FROM THE EXAMINATION HALL

FQ5113-Usul Fiqh and Qawaid Fiqhiyyah CONFIDENTIAL January 2015 Semester Final Examination

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Part A: (40 Marks) Answer all questions. Each question carries twenty (20) marks QUESTION ONE (20 marks)

a. Discuss the main factors that led to the emergence of Traditionalist (Ahl- Hadith) and Rationalist (Ahl al-Rai) schools of thought in the first century of Islam and the subsequent emergence of other Fiqh Schools. (10 marks)

b. Explain how the knowledge of Usul al-Fiqh can help a jurist to deduce a legal ruling from the Shari’ah sources or to issue a fatwa. Provide relevant examples to support your answer. (10 marks)

QUESTION TWO (20 marks) Discuss the application of the following legal maxims to contemporary issues related to Islamic transactions, banking and finance.

a. Acts are judged by their goals and purposes (al-Umur Bi-Maqasidiha) (10 marks)

b. Harm must be eliminated (al-Dharar Yuzal) (10 marks)

FQ5113-Usul Fiqh and Qawaid Fiqhiyyah CONFIDENTIAL January 2015 Semester Final Examination

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Part B: (60 Marks) Answer any three (3) of the following questions. QUESTION ONE 20 marks)

a. The Hanafi jurists distinguish between fardh and wajib and between haram and makruh tahrimi. Discuss how their approach to the sources of Shari’ah provided the basis for their classification and arguments. (10 marks)

b. Discuss the following category of declaratory law (hukm wadh’i): valid (sahih), voidable/irregular (fasid) and void (batil). Provide relevant examples from Islamic transactions to support your answer. (10 marks)

QUESTION TWO (20 marks)

a. Discuss the main reasons that justify resort to the application of juristic preference (istihsan). Provide both classical and contemporary examples to support your answer. (10 marks)

b. Compare and contrast the methods of juristic preference (istihsan) and

public interest (maslahah al-mursalah). (10 marks) QUESTION THREE (20 marks)

a. Discuss, in the light of contemporary reform proposals, the possibility of achieving consensus of opinions (ijma’) among Muslim jurists on new fiqhi issues. (10 marks)

b. Using your knowledge of analogy (qiyas) ascertain the reason (‘illah) for the prohibition of usury (Riba) and extend it to contemporary similar cases. (10 marks)

QUESTION FOUR (20 marks)

a. Discuss how presumption of continuity (istishab) as a source of law would

enable a jurist to come up with a fiqh ruling. Support your answer with relevant examples. (10 marks)

b. Discuss how the juristic method of blocking the means (sadd al-dharai’) could be used to declare a certain permissible act as prohibited (haram). Support your answer with relevant examples. (10 marks)

***END OF QUESTIONS***