Question 1.
The five major legal maxims that plays an important role for mujtahid to derive Islamic ruling are as follows:
i. Matters are determined according to intention;
ii. Hardship begets facility;
iii. Harm shall not be inflicted nor reciprocated;
iv. What is certain cannot be removed by doubt;
v. Custom is arbitrary
a) Explain the general meaning of the maxims stated above.
b) What is the origin of the maxim?
c) What are the applications of the maxim?
Question 2
You are a general manager of a newly established Islamic bank. For the next six months you are required to:
i. Create new products;
ii. Set up the operations;
iii. Set up the risk management department;
Elaborate, on the steps that you need to do and at the same time comply with the requirements of the regulators.