ABSTRACT
Islamic law in the field of muamlat is generally concerned with laying down general principles and broad guidelines for business transactions without indulging in details. A thorough study of the Qur’ān and the Sunnah on this subject reveals that ‘ibadāt have been dealt with in detail for which specific rules have been provided, while mu‘āmalāt have been discussed in general terms. The wisdom appears to be that ‘ibādāt are held to be universal truths that are unaffected by time and space. They are not subject to modification or change by means of ijtihād or otherwise. As these fixed commandments were necessary so they have been provided for. The mu‘āmalāt are matters pertaining to individuals interacting amongst themselves. The variety of this interaction is neither foreseeable nor it can be complied under a regime of fixed rules. They are also changeable in different epochs of time within various geographical entities.
