Mujtahid

Mujtahid (Arabic: مجتهد, from Ijtihad meaning 'independent reasoning') is a scholar qualified to exercise independent juristic reasoning to derive Shariah rulings from the primary sources of Islamic law (Quran, Sunnah, Ijma, and Qiyas). In Islamic finance, Mujtahids serve on Shariah Supervisory Boards (SSBs) of Islamic financial institutions, on national-level Shariah advisory councils, and on the AAOIFI Shariah Board. A Mujtahid in Islamic finance must possess deep knowledge of classical Islamic jurisprudence (Usul al-Fiqh), the jurisprudence of financial transactions (Fiqh al-Muamalat), modern financial instruments and markets, and contemporary economic conditions. AAOIFI Governance Standard No. 1 sets out the qualifications, appointment, composition, and responsibilities of Shariah board members. The IOF platform supports Shariah governance workflows including scholar profile management, fatwa issuance tracking, Shariah audit trails, and board resolution documentation.