Axiological Premises and Interpretative Challenges in Islamic Financial Law

Abstract

This article examines the axiological premises of Islamic financial law, highlighting the way in which the Shari’a informs the understanding of economic phenomena and the structuring of financial instruments. After reconstructing the relationship between law, economics and value-based principles in Islamic thought, the analysis focuses on the function of risk-sharing, its connection with sustainability, and the critical issues arising from interpretative instability. From this perspective, the article shows how regulatory fragmentation and the plurality of hermeneutical authorities currently represent one of the main obstacles to the integrated development of Islamic financial markets.