Operational definition for doubtful activities (Shubuhat) based on Islamic finance perspective

Abstract

Purpose The purpose of this paper is to give another perspective on the definition of doubtful activities (Shubuhat) in the context of Islamic finance activities. Design/methodology/approach This study used qualitative approach from interviews with experts in Islamic finance and religious scholars. Findings This study highlights the synthesized Shubuhat definition from the previous studies and the contemporary religious experts. Therefore, the definition of Shubuhat has been conceptualized to Islamic finance in this study. This proposes a novel operational definition of Shubuhat from the Islamic finance perspective. Originality/value This study would enlighten the Ummah and contribute to knowledge to provide clarification on the Shubuhat fundamentals for further investigations and with more detailed description of the Shubuhat. Also, this study introduces a value chain of Sharīʿah-compliance by adding the elements of Shubuhat to the general understanding of Sharīʿah-compliance which has been generally understood as having the elements of halal and haram.