Strengthening the institutional framework of the contemporary Islamic finance: comparative analysis between Malaysia, Saudi Arabia, Pakistan and Sudan
This paper is drawn from an ongoing Ph.D dissertation which seeks to examine the roles of fatwa, Shariah resolutions, court judgment and governmental policies in the contemporary Islamic finance in Malaysia, with cross reference with the practices in Saudi Arabia, Pakistan and the Sudan. The researc...
Saved in:
| Main Author: | |
|---|---|
| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://repo.uum.edu.my/21640/3/ICIBF2012.pdf http://repo.uum.edu.my/21640/ |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | This paper is drawn from an ongoing Ph.D dissertation which seeks to examine the roles of fatwa, Shariah resolutions, court judgment and governmental policies in the contemporary Islamic finance in Malaysia, with cross reference with the practices in Saudi Arabia, Pakistan and the Sudan. The research is currently at the reporting of the findings stage. The main objective of the paper is to review some of the existing literature quest for Institutional framework of contemporary Islamic finance is not properly located to build the argument for strengthening the Institutional framework and practice in contemporary Islamic finance with the view to minimize the Shariah and legal risks involved. The methodology employed for the research is library-based research on both primary and secondary sources of data, including text books, journal articles, online references, state g uidelines, legislations and decided cases. Hopefully, the research could become a catalyst for future research on the governance of Islamic finance within the context of mixed jurisdictions of the contemporary practices both locally and internationally.
Keywords: Institutional framework, Shariah and legal risks, Contemporary Islamic Finance |
|---|