​Islamic Finance - The origins of the law
The core of Islam is that its ideas and ideals are derived from a specific source. In a legal sense, the term source has more than one meaning. The term source can refer to a system's originating wellspring.
For Islam and Islamic law, this source is the Qur'an, which is considered divine in nature. In the instance of judicial precedent in English common law, the source might also refer to the primary body of the law. It often refers to the sum of rules and powers structured in a structural hierarchy when used in the plural. The source of the law, in essence, is not the law itself. It is rather the source from which a law can be derived and extended. Simply expressed, the source identifies where a rule or legal argument originated.
However, in other instances, the divine source also contains substantive laws.
Both of them are known as sources; one gives proof, while the other provides law from which a legal concept might be drawn. This phenomena is comparable to how European civil law and English common law operate. European civil law is mainly based on established laws and statutes, whereas English common law is based on case law. The sources of law for European civil law and English common law are both legislative and case law.