The “Custom is Settled” Rule: Its Effect on Financial Transactions as an Example

Abstract

Jurisprudential principles are a solid part of the Islamic jurisprudence, as these principles have managed to gather the scattered jurisprudential issues and encompass its numerous details with their concise expressions and strong terms. They have also managed to express established legal principles in the balance of legislation. Therefore, this research aims to shed light on one of these principles, which is the "Custom is an arbitrator," due to its importance in the jurisprudential foundation of many issues falling under the theory of custom. Hence, the importance of this research lies in its connection to a principle related to the interests of people based on their customs and traditions and to avoid hardship. The research explores the application of this principle to people's customs, especially in their financial transactions. This research begins by explaining the meaning of the principle, its legal basis, and related terms. It then moves on to outline its conditions and the rules for applying it. Following that, the research discusses the extent to which this principle is applied in financial transactions. The conclusion presents the key findings and recommendations. The research adopts an inductive methodology, which involves collecting and investigating scientific material from reliable sources. Then it transitions to an analytical method by analyzing the gathered material, ultimately deducing the key findings. Among these significant findings is that custom has an impact on all branches of Islamic jurisprudence, encompassing countless branches and issues. Its importance and influence are clearly observed in various aspects of transaction jurisprudence. This influence varies and may involve the formation, approval, nullification, or validity of contracts, among other aspects. Undoubtedly, this principle also impacts other branches of jurisprudence. Therefore, further studies are recommended to highlight its applications in other areas.