Financial Planning Through Maqasid Shari'ah Engineering : A Study on the Takaful Products Development

Abstract

In fact, takaful products constitutes one important area of Islamic financial planning which in line with the Maqasid Shari’ah perspective. Therefore, this research explore on the takaful products development as sustainable financial planning based on the Maqasid Shari’ah principles. Qualitative method has been used which based on the library research such as books, articles, journals review and any other related materials. Finding of this research show that there are several products development in takaful institutions are in conformity with the Maqasid Shari’ah perspective as sustainable of financial planning which bring the social welfare and justice for the public interest (maslahah). As conclusion, the development of the takaful products should be based on the preservation of five necessities (daruriyyah al-khamsah), namely, the preservation of religion (din), the preservation of life (nafs), the preservation of intellect (’aql), the preservation of progeny (nasl) and the preservation of wealth (mal).