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The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar

Islamic Banking is fast growing business in Malaysia since inception in 1983. Al-Bai Bithaman Ajil has become its main products. But, there is no specific law to address and govern the al-Bai Bithaman Ajil transactions in Malaysia. The Islamic Banking Act of 1983 is only a regulatory act. The issues...

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Bibliographic Details
Main Author: Jaafar, Mohamad Suffian
Format: Thesis
Language:English
Published: 2007
Subjects:
Banking
Constitutional law
Online Access:http://ir.uitm.edu.my/id/eprint/38592/1/38592.pdf
http://ir.uitm.edu.my/id/eprint/38592/
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spelling my.uitm.ir.385922020-12-15T04:38:53Z http://ir.uitm.edu.my/id/eprint/38592/ The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar Jaafar, Mohamad Suffian Banking Constitutional law Islamic Banking is fast growing business in Malaysia since inception in 1983. Al-Bai Bithaman Ajil has become its main products. But, there is no specific law to address and govern the al-Bai Bithaman Ajil transactions in Malaysia. The Islamic Banking Act of 1983 is only a regulatory act. The issues discussed by the judges before handing the decisions will be the main focus as it provides the answer pertaining to the grey issues related to al-Bai Bithaman Ajil in Malaysia. The decisions are required and handy in clarifying and addressing certain weaknesses, ambiguity and unclear interpretation in the question of law such as the jurisdiction of Court, the application of conventional law, i.e the National Land Code 1965. This study suggests that a separated procedural and substantive law should be gazetted for al-Bai Bithaman Ajil. This is due to the fact the current laws being applied by the Court is not Shariah compliant. In addition, it is also suggested that certain legal powers should be given to the Shariah Advisory Council to interfere in the proceedings of the Court. At present, the Council's role is to advice to the Bank Negara Malaysia and has no legal authority. 2007 Thesis NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/38592/1/38592.pdf Jaafar, Mohamad Suffian (2007) The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar. Degree thesis, Universiti Teknologi MARA.
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Banking
Constitutional law
spellingShingle Banking
Constitutional law
Jaafar, Mohamad Suffian
The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
description Islamic Banking is fast growing business in Malaysia since inception in 1983. Al-Bai Bithaman Ajil has become its main products. But, there is no specific law to address and govern the al-Bai Bithaman Ajil transactions in Malaysia. The Islamic Banking Act of 1983 is only a regulatory act. The issues discussed by the judges before handing the decisions will be the main focus as it provides the answer pertaining to the grey issues related to al-Bai Bithaman Ajil in Malaysia. The decisions are required and handy in clarifying and addressing certain weaknesses, ambiguity and unclear interpretation in the question of law such as the jurisdiction of Court, the application of conventional law, i.e the National Land Code 1965. This study suggests that a separated procedural and substantive law should be gazetted for al-Bai Bithaman Ajil. This is due to the fact the current laws being applied by the Court is not Shariah compliant. In addition, it is also suggested that certain legal powers should be given to the Shariah Advisory Council to interfere in the proceedings of the Court. At present, the Council's role is to advice to the Bank Negara Malaysia and has no legal authority.
format Thesis
author Jaafar, Mohamad Suffian
author_facet Jaafar, Mohamad Suffian
author_sort Jaafar, Mohamad Suffian
title The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_short The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_full The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_fullStr The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_full_unstemmed The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_sort application of islamic banking in malaysia: a case study on the court decisions in matters relating to al-baibithaman ajil / mohamad suffian jaafar
publishDate 2007
url http://ir.uitm.edu.my/id/eprint/38592/1/38592.pdf
http://ir.uitm.edu.my/id/eprint/38592/
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score 13.211869

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