TY - JOUR AU - Mohd Noor Omar, PY - 2022/06/29 Y2 - 2024/03/29 TI - INTRODUCING MAQĀSIDIC FRAMEWORK FOR CENTRAL BANK DIGITAL CURRENCY (CBDC) JF - TAFHIM: IKIM Journal of Islam and the Contemporary World JA - tafhim VL - 15 IS - 1 SE - Articles DO - 10.56389/tafhim.vol15no1.3 UR - https://tafhim.ikim.gov.my/index.php/tafhim/article/view/171 SP - AB - <p>Money is a social convention performing its functions&nbsp;to facilitate the socio-economic ecosystem. For&nbsp;decades, money has evolved from barter, rare piece,&nbsp;metal, fiat and presently a distributed blockchainbased&nbsp;digital money. Monetary authorities around&nbsp;the world are expected to advance their own&nbsp;national Central Bank Digital Currency (CBDC)&nbsp;that works effectively and efficiently. Several studies&nbsp;have investigated the technical, economic and&nbsp;feasibility of CBDC that might have an impact on&nbsp;monetary policy and liquidity. This study employs&nbsp;the maqāṣid al-sharī‘ah framework to investigate an&nbsp;ethical dimension of CBDC and lay out an Islamic&nbsp;principal guideline. The findings introduce an&nbsp;ethical ecosystem useful to signify the viability type&nbsp;of CBDC with specific characteristics and features.&nbsp;This is also possible in modelling the compliance&nbsp;aspects of digital monetary system to the Islamic&nbsp;monetary framework.</p> ER -