Principles and limitations of contractual freedom in Islamic law

Abstract

Islamic economics is characterized by its emphasis on economic freedoms, which are based on the freedom of contract and the conclusion of legal transactions, particularly in the realm of financial dealings. It grants parties to contractual relationships the freedom to conclude contracts and determine their content and effects, provided that this does not infringe upon Islamic public order, especially regarding usury and other prohibited practices. Therefore, this paper examines the foundations of contractual freedom from the perspective of Islamic law and the regulations it has established in this regard.