The term Collective Ijtihad is relatively a new term but the idea however existed in the past. The term refers to a collective effort of a group of scholars in determining the ruling of an issue from the depths and vastness of Qur'an and Sunnah. In contemporary times, there exist numerous committees of academics worldwide that issue verdicts (Fatawa) on modern issues; such proceedings are included in the definition of Collective Ijtihad. Some of these committees are governed by governmental institutions while others work independently. Some contemporary scholars have tried to define the term Collective Ijtihad in a more comprehensive...

Just like the Industrial Revolution of 17th century and the 20th century development had its global effect on world's social, economic and political paradigms, which was further supplemented by rapid growth in the technology, the religious world could also not remain unaffected. As a result, today, the religious world is exposed to such peculiar questions that it never encountered before. For example, due to industrial developments and economic changes, numerous innovative methods and forms of trade and business were introduced, and it was extremely important for the religion to be able to cope and give its opinion or to provide...

Ijtihad refers to one's exertion in determining the Islamic legal ruling from the vastness and depths of Islamic texts, or to the application of such ruling on the subject matter. This form of Ijtihad differs from the conventional form where such activity is carried out by an individual rather than a group of reputable academics of the relevant field collectively. In the subcontinent of Indo-Pak, Dr. Muhammad lqbal was the first one to present the idea of delegating or accrediting the responsibility of 'Ijtihad' to the parliament of the Islamic state and as a result, giving such Ijtihad the status...

This research paper examines the ideological contestation between opponents and proponents of Islamic Banking in Pakistan. Major part of the research is based on Shari'ah and jurisprudential study of 'modes of financing' in Islamic Banks. It explores the agreements and similarities between conventional and Islamic Banking along with analysis of the fact that the existing system in Islamic Banks is based on illegal tricks and subterfuges while at the same time apparently there seems to be some fractional support to this system from Islamic Law as well. Nevertheless, the real Shariah objectives for implementation of these laws have been severely...

Ijtihad either individual or collective, it has been conflicting for the very beginning that to which extent legislation of verdicts of Muslim jurists is allowed? There are two opinions prevalent about Taqnin i.e. legislation of Islamic jurisprudence. Majority of Saudi scholars say that it is legally forbidden in Islamic Shariah whereas the majority of Egyptian jurists are of opinion that it is essential and a need for a modern day. Most of the Muslim countries are following Egyptian view by enforcing written constitutions and laws. The arguments of those scholars, who reason the nullity of Taqnin, seem more convincing. Their...