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The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies

With the increasing expansion of the global Islamic finance industry beyond its traditional strongholds, there is a gradual increase in the global franchising opportunities in Islamic finance. As one of the pioneering studies on franchise in Islamic finance, this paper examines the Malaysian legal f...

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Main Author: Oseni, Umar Aimhanosi
Format: Article
Language:English
English
Published: Kolej University Islam Sultan Azlan Shah 2016
Subjects:
HG Finance
Online Access:http://irep.iium.edu.my/55456/1/55456_the%20law%20and%20regulation.pdf
http://irep.iium.edu.my/55456/2/55456_the%20law%20and%20regulation_SCOPUS.pdf
http://irep.iium.edu.my/55456/
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spelling my.iium.irep.554562017-03-15T04:09:09Z http://irep.iium.edu.my/55456/ The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies Oseni, Umar Aimhanosi HG Finance With the increasing expansion of the global Islamic finance industry beyond its traditional strongholds, there is a gradual increase in the global franchising opportunities in Islamic finance. As one of the pioneering studies on franchise in Islamic finance, this paper examines the Malaysian legal framework on franchising within the Islamic finance industry. Over the years, there has been tremendous growth in the franchise industry in Malaysia and the Islamic financial institutions are not left out in this welcome development. While the franchise industry contributed RM24.6 billion or 2.8% to the Malaysian GDP in 2013, it has been projected that such contribution will reach RM25.4 billion by the end of 2014. The study adopts a qualitative legal method in analyzing the relevant legislations, as they are applicable to Shari'ah-compliant business of Islamic financial institutions. The study finds that there is no specific framework for Shari'ah-complaint business in Malaysia, including Islamic finance business. Malaysia has vast opportunities in expanding its franchise industry through the amendment of the relevant legal framework to cater for Islamic finance business. This is expected to project Malaysia as a global hub for Islamic finance products and a destination for Shari'ah-complaint franchise businesses at the global level. Kolej University Islam Sultan Azlan Shah 2016 Article REM application/pdf en http://irep.iium.edu.my/55456/1/55456_the%20law%20and%20regulation.pdf application/pdf en http://irep.iium.edu.my/55456/2/55456_the%20law%20and%20regulation_SCOPUS.pdf Oseni, Umar Aimhanosi (2016) The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies. Global Journal Al-Thaqafah, 6 (2). pp. 37-45. ISSN 2232-0474 http://www.gjat.my/
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic HG Finance
spellingShingle HG Finance
Oseni, Umar Aimhanosi
The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies
description With the increasing expansion of the global Islamic finance industry beyond its traditional strongholds, there is a gradual increase in the global franchising opportunities in Islamic finance. As one of the pioneering studies on franchise in Islamic finance, this paper examines the Malaysian legal framework on franchising within the Islamic finance industry. Over the years, there has been tremendous growth in the franchise industry in Malaysia and the Islamic financial institutions are not left out in this welcome development. While the franchise industry contributed RM24.6 billion or 2.8% to the Malaysian GDP in 2013, it has been projected that such contribution will reach RM25.4 billion by the end of 2014. The study adopts a qualitative legal method in analyzing the relevant legislations, as they are applicable to Shari'ah-compliant business of Islamic financial institutions. The study finds that there is no specific framework for Shari'ah-complaint business in Malaysia, including Islamic finance business. Malaysia has vast opportunities in expanding its franchise industry through the amendment of the relevant legal framework to cater for Islamic finance business. This is expected to project Malaysia as a global hub for Islamic finance products and a destination for Shari'ah-complaint franchise businesses at the global level.
format Article
author Oseni, Umar Aimhanosi
author_facet Oseni, Umar Aimhanosi
author_sort Oseni, Umar Aimhanosi
title The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies
title_short The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies
title_full The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies
title_fullStr The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies
title_full_unstemmed The law and regulation of franchising in Malaysia's Islamic finance industry: problems, prospects and policies
title_sort law and regulation of franchising in malaysia's islamic finance industry: problems, prospects and policies
publisher Kolej University Islam Sultan Azlan Shah
publishDate 2016
url http://irep.iium.edu.my/55456/1/55456_the%20law%20and%20regulation.pdf
http://irep.iium.edu.my/55456/2/55456_the%20law%20and%20regulation_SCOPUS.pdf
http://irep.iium.edu.my/55456/
http://www.gjat.my/
_version_ 1643614743608426496
score 13.211869

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