The challenges of alternative dispute resolution for Islamic Finance in Malaysia

Malaysia’s authority on Islamic Finance is recognized worldwide. Islamic finance benefits and advantages have helped to develop many countries regardless of religions or communities. However, many countries such as United Kingdom, UEA, Asian countries that are adopting Islamic finance will bound to...

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Main Authors: Nur Khalidah Dahlan,, Mohd Rizal Palil,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2018
Online Access:http://journalarticle.ukm.my/13005/1/29230-89702-1-PB.pdf
http://journalarticle.ukm.my/13005/
http://ejournal.ukm.my/juum/issue/view/1149
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spelling my-ukm.journal.130052019-05-21T21:35:20Z http://journalarticle.ukm.my/13005/ The challenges of alternative dispute resolution for Islamic Finance in Malaysia Nur Khalidah Dahlan, Mohd Rizal Palil, Malaysia’s authority on Islamic Finance is recognized worldwide. Islamic finance benefits and advantages have helped to develop many countries regardless of religions or communities. However, many countries such as United Kingdom, UEA, Asian countries that are adopting Islamic finance will bound to encounter some disputes through the Islamic finance application. This article provides some insights on the judgment of Malaysian court (Muamalat court) and seek to evaluate the best way for Malaysia to approach the issues. Issues such as whether financial products offered by Islamic banking institutions are Sharia compliant and whether the terms and conditions of the contracts embodied in such products are fair to all parties involved. It is suggested that while a Malaysian court have long solved many disputes through its application, it is still possible for future disputes be resolved using Alternative Dispute Resolution. Penerbit Universiti Kebangsaan Malaysia 2018 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/13005/1/29230-89702-1-PB.pdf Nur Khalidah Dahlan, and Mohd Rizal Palil, (2018) The challenges of alternative dispute resolution for Islamic Finance in Malaysia. Jurnal Undang-Undang dan Masyarakat, 22 . pp. 11-19. ISSN 1394-7729 http://ejournal.ukm.my/juum/issue/view/1149
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description Malaysia’s authority on Islamic Finance is recognized worldwide. Islamic finance benefits and advantages have helped to develop many countries regardless of religions or communities. However, many countries such as United Kingdom, UEA, Asian countries that are adopting Islamic finance will bound to encounter some disputes through the Islamic finance application. This article provides some insights on the judgment of Malaysian court (Muamalat court) and seek to evaluate the best way for Malaysia to approach the issues. Issues such as whether financial products offered by Islamic banking institutions are Sharia compliant and whether the terms and conditions of the contracts embodied in such products are fair to all parties involved. It is suggested that while a Malaysian court have long solved many disputes through its application, it is still possible for future disputes be resolved using Alternative Dispute Resolution.
format Article
author Nur Khalidah Dahlan,
Mohd Rizal Palil,
spellingShingle Nur Khalidah Dahlan,
Mohd Rizal Palil,
The challenges of alternative dispute resolution for Islamic Finance in Malaysia
author_facet Nur Khalidah Dahlan,
Mohd Rizal Palil,
author_sort Nur Khalidah Dahlan,
title The challenges of alternative dispute resolution for Islamic Finance in Malaysia
title_short The challenges of alternative dispute resolution for Islamic Finance in Malaysia
title_full The challenges of alternative dispute resolution for Islamic Finance in Malaysia
title_fullStr The challenges of alternative dispute resolution for Islamic Finance in Malaysia
title_full_unstemmed The challenges of alternative dispute resolution for Islamic Finance in Malaysia
title_sort challenges of alternative dispute resolution for islamic finance in malaysia
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2018
url http://journalarticle.ukm.my/13005/1/29230-89702-1-PB.pdf
http://journalarticle.ukm.my/13005/
http://ejournal.ukm.my/juum/issue/view/1149
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score 13.211869