Download or read book International Commercial Arbitration as a Safeguard for the Application of Sharia Principles to International Disputes Between Islamic Banks and Financial Institutions written by Mohammed Saud Alduaylij and published by . This book was released on 2018 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Islamic Law and International Commercial Arbitration written by Maria Bhatti and published by Routledge. This book was released on 2018-09-27 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the intersection between contemporary International Commercial Arbitration and Shari?a law in order to determine possible tensions that may arise between the two systems. It develops evidentiary and procedural rules under Shari?a, as well as examining the consequences of stipulating qualifications of arbitrators based on gender and/or religion. The author extensively analyses the prohibition against interest (riba) and uncertainty (gharar) under Shari?a and its impact on arbitration agreements, arbitral awards and public policy. The book also explores the prohibition against riba in light of international conventions, such as the United Nations Convention on Contracts for the International Sale of Goods. Case studies in the book include the Asian International Arbitration Centre, formerly the Kuala Lumpur Regional Centre for Arbitration, and the International Islamic Centre for Reconciliation and Arbitration, as well as the ‘Shari’a Standards’ developed by the Accounting and Auditing Organization for Islamic Financial Institutions. The book will be a valuable resource for academics, students and practitioners working in the areas of Islamic law and the Islamic finance industry.
Download or read book The Shari A Law Factor in International Commercial Arbitration written by Faisal Kutty and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world has witnessed a phenomenal growth in commercial disputes transcending national borders due to our increasingly interrelated and globalized world economy. In addition to issues in interpretation of commercial agreements and practices, differences in custom, language, culture and religion continue to fuel conflicts and disagreements between commercial players. Over the last few decades there have been growing commercial interaction between Western companies and their Middle Eastern counterparts. Given this interaction and the great geo-political and economic importance of this region, it is imperative that Western lawyers and dispute resolution professionals have a reasonable grasp of the general principles of Shari'a or Islamic law, a source (to varying degrees) of law in most nations in the Middle East. It is clear that the increase in international commercial transactions has contributed to the globalization of the legal community, but it is disturbing that there has been very little examination of the influence and impact on the Middle East's legal system's religious underpinnings upon the continued acceptance of international commercial arbitration. Given the growing calls for a return to the Shari'a and increasing global interdependence, the western legal community can no longer be satisfied to leave the Shari'a as a preserve of Middle East specialists, Arabists and comparative law experts. It is a trite observation that cultural or more aptly in the Middle East, religious considerations, can play a vital role in the acceptance and successful functioning of international commercial arbitration. The religious variable may impact on the following: the scope of arbitration; the nature of arbitration; the choice of law; the appointment of arbitrators; liability of arbitrators; limitations periods; interest awards; public policy considerations; evidentiary considerations; enforceability of decisions, etc. This paper will explore the development and acceptance of international commercial arbitration in the Middle East and analyze the issues and areas which create tension between international commercial arbitration and the Shari'a. There is certainly a need to reform Islamic law from within to deal with contemporary norms, transactions and institutions, but there is an equal need to better accommodate and address the issues of concern from an Islamic perspective. The assumption and belief that the Shari'a is being sidelined, and that the current international commercial arbitration framework is exclusively derived from the Western legal heritage may create obstacles in the acceptance and continued legitimacy of international commercial arbitration in the Middle East, and even in the other Islamic nations. This is clearly unacceptable if we recall that the twin objectives of the legal framework underpinning international commercial arbitration are to ensure enforceability of arbitration agreements/clauses and arbitral awards and to insulate the arbitration process as much as possible from interference by domestic courts and other national or international institutions. This can only be achieved when there is mutual respect and understanding of the various laws, practices, cultures and religious worldviews prevalent in the world today. There is a clear need for dialogue. The aim of such a dialogue will be to help develop an international commercial arbitration regime in which the business community can have confidence, while staying true to the core principles of tahkim (arbitration) under the Shari'a. This will help remove a potential crutch that may be used by those who oppose the international commercial arbitration movement as being one of purely Western import.
Download or read book Shari a Law in Commercial and Banking Arbitration written by Abdulrahman Yahya Baamir and published by Routledge. This book was released on 2016-11-16 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an analysis of how commercial and banking disputes can be settled under the Islamic regime for arbitration. The work focuses on the Saudi legal system as representative of Shari'a law in commercial and banking arbitration, and where relevant, makes comparisons with the settlement of banking disputes in Egypt and the UAE. Shari'a Law in Commercial and Banking Arbitration provides a general introduction to the Saudi law and to the main principles and sources of Islamic Shari'a, on which Saudi law is based. It explores uncertainties resulting from the current system, such as the payment of interest, and examines possible alternative remedies for both domestic and international banking arbitration. It will be key reading for anyone interested in business and commercial law.
Download or read book Arbitration and International Trade in the Arab Countries written by Nathalie Najjar and published by BRILL. This book was released on 2017-10-23 with total page 1340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitration and International Trade in the Arab Countries by Nathalie Najjar is masterful compendium of arbitration law in the Arab countries. A true study of comparative law in the purest sense of the term, the work puts into perspective the solutions retained in the various laws concerned and highlights both their convergences and divergences. Focusing on the laws of sixteen States, the author examines international trade arbitration in the MENA region and assesses the value of these solutions in a way that seeks to guide a practice which remains extraordinarily heterogeneous. The book provides an analysis of a large number of legal sources, court decisions as well as a presentation of the attitude of the courts towards arbitration in the States studied. Traditional and modern sources of international arbitration are examined through the prism of the two requirements of international trade, freedom and safety, the same prism through which the whole law of arbitration is studied. The book thus constitutes an indispensable guide to any arbitration specialist called to work with the Arab countries, both as a practitioner and as a theoretician.
Download or read book International Law and Islamic Law written by MashoodA. Baderin and published by Routledge. This book was released on 2017-07-05 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between modern international law and Islamic law has raised many theoretical and practical questions that cannot be ignored in the contemporary study and understanding of both international law and Islamic law. The significance and relevance of this relationship in both academic and practical terms, especially after the terrorist attacks of 11 September 2001, is now well understood. Recent international events in particular corroborate the need for a better understanding of the relationship between contemporary international law and Islamic law and how their interaction can be explored and improved to enhance modern international relations and international law. The articles reproduced in this volume examine the issues of General Principles of International Law, International Use of Force, International Humanitarian Law, International Terrorism, International Protection of Diplomats, International Environmental and Water Law, Universality of Human Rights, Women's Rights, Rights of the Child, Rights of Religious Minorities, and State Practice. The essays have been carefully selected to reflect, as much as possible, the different Islamic perspectives on each of these aspects of international law.
Download or read book A Geo Legal Approach to the English Sharia Courts written by Anna Marotta and published by BRILL. This book was released on 2021-12-20 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study on the Islamic ADR institutions in England through the lens of Comparative Law and Geopolitics.
Download or read book Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services written by Wafik Grais and published by World Bank Publications. This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The structures and processes established within an institution offering Islamic financial Services (IIFS) for monitoring and evaluating Shariah compliance rely essentially on arrangements internal to the firm. By being incorporated in the institutional structure, a Shariah supervisory board (SSB) has the advantage of being close to the market. Competent, independent, and empowered to approve new Shariah-conforming instruments, an SSB can enable innovation likely to emerge within the institution. The paper reviews the issues and options facing current arrangements for ensuring Shariah compliance by IIFS. It suggests a framework that draws on internal and external arrangements to the firm and emphasizes market discipline. In issuing its fatwas, an SSB could be guided by standardized contracts and practices that could be harmonized by a self-regulatory professionals' association. A framework with the suggested internal and external features could ensure adequate consistency of interpretation and enhance the enforceability of contracts before civil courts. The review of transactions would mainly be entrusted to internal review units, which would collaborate with external auditors responsible for issuing an annual opinion on whether the institution's activities has met its Shariah requirements. This process would be sustained by reputable entities such as rating agencies, stock markets, financial media, and researchers who would channel signals to market players. This framework would enhance public understanding of the requirements of Shariah and lead to more effective options available to stakeholders to achieve improvements in Islamic financial services.
Download or read book Islamic Commercial Law written by Mohamed H. Reda and published by BRILL. This book was released on 2017-11-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic Commercial Law: Contemporariness, Normativeness and Competence offers new perspectives on why for centuries Islamic commercial law has been perceived as arbitrary and unpredictable, and on its evolution to a contemporary, consistent, reliable and credible body of law. The book also examines why Western positivists have viewed Islamic commercial law in a simplistic or archaic religious framework and counters those arguments with an examination of its normative legal qualities. The work analyses the competencies of Fiqh (jurisprudence) for structuring new financial instruments, and restructuring conventional financial products more equitability.
Download or read book Islamic Law written by Mashood A. Baderin and published by Oxford University Press, USA. This book was released on 2021 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic law is one of the major legal systems in the world today, yet it is often misunderstood, particularly in the West. This book provides a critical overview of the theory, scope, and practice of Islamic law, taking into account both classical and modern scholarly perspectives in examining the various facets of this key legal system.
Download or read book Islamic Finance written by Usman Hayat and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Land Law and Islam written by Hilary Lim and published by Zed Books Ltd.. This book was released on 2013-07-18 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this pioneering work Siraj Sait and Hilary Lim address Islamic property and land rights, drawing on a range of socio-historical, classical and contemporary resources. They address the significance of Islamic theories of property and Islamic land tenure regimes on the 'webs of tenure' prevalent in the Muslim societies. They consider the possibility of using Islamic legal and human rights systems for the development of inclusive, pro-poor approaches to land rights. They also focus on Muslim women's rights to property and inheritance systems. Engaging with institutions such as the Islamic endowment (waqf) and principles of Islamic microfinance, they test the workability of 'authentic' Islamic proposals. Located in human rights as well as Islamic debates, this study offers a well researched and constructive appraisal of property and land rights in the Muslim world.
Download or read book Law in the Pursuit of Development written by Amanda Perry Kessaris and published by Routledge. This book was released on 2009-12-16 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law in the Pursuit of Development critically explores the relationships between contemporary principles and practice in law and development. Including papers by internationally renowned, as well as emerging, scholars and practitioners, the book is organized around the three liberal principles which underlie current efforts to direct law towards the pursuit of development. First, that the private sector has an important role to play in promoting the public interest; second, that widespread participation and accountability are essential to any large scale enterprise; and third, that the rule of law is a fundamental building block of development. This insightful and provocative collection, in which contributors critique both the principles and efforts to implement them in practice, will be of considerable interest to students, academics and practitioners with an interest in the fields of law and development, international economic law, and law and globalization.
Download or read book Guide to ICC Arbitration written by International Chamber of Commerce and published by . This book was released on 1994 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance in Islamic Financial Institutions written by Hussein Elasrag and published by Hussein Elasrag. This book was released on with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is one of few papers that highlight the importance of studying corporate governance for institutions offering Islamic financial services. The book is of value in describing governance in Islamic institutions and how there are many issues under the investigation process, especially issues related to the Shari'ah Supervisory board and its functionality. One of the objectives of this paper is to discuss, and create greater awareness of, some of the crucial issues related to corporate governance in Islamic financial institutions. A second, but in fact more important, objective is to provide, in the light of this discussion, certain essential guidelines to improve corporate governance in these institutions and thereby enable them to not only maintain their momentum of growth and international acceptance but also safeguard the interests of all stakeholders. The paper gives particular attention to the mechanisms for corporate governance, including the Board of Directors, Senior Management, shareholders, depositors, and regulatory and supervisory authorities.
Download or read book Islamic Finance in Europe written by Valentino Cattelan and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different conceptions of economic justice(s) co-exist and influence each other. The contributing authors analyse key economic development and social integration issues from an Islamic perspective and outline the European approach to accommodating Islamic finance, with particular regard to the peculiarities of individual nation-states. Set in this context, the book presents financial pluralism as a device to enhance a level playing field in the global marketplace, as well as to foster a plural open society. Providing a comprehensive and methodological guide to Islamic finance in Europe, this book will prove an illuminating and informative read for academics, students and policymakers with an interest in the impact on financial regulation of an increasingly globalized world.
Download or read book Arbitration in Egypt written by Ibrahim Shehata and published by Kluwer Law International B.V.. This book was released on 2021-10-05 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Egypt, and in particular the Cairo Regional Centre for International Commercial Arbitration (CRCICA), has clearly cemented its status as a preferred seat for arbitration cases in both the Middle East–North Africa (MENA) region and the African continent. To assist parties with a need or desire to arbitrate disputes arising in these regions – whether commercial or investment – this incomparable book, the first in-depth treatment in any language of arbitration practice under Egyptian law, provides a comprehensive overview of the arbitration process and all matters pertaining to it in Egypt, starting with the arbitration agreement and ending with the recognition and enforcement of the arbitral award. Citing more than 2,500 cases – both awards and arbitral-related court judgments – the book’s various chapters examine in detail how Egypt’s arbitration law, based on the UNCITRAL model law, encompasses such internationally accepted arbitral provisions and aspects as the following: application of the New York Convention; concept of arbitrability; choice of applicable law; formation of the arbitral tribunal; selection, rights, duties, liability, and challenge of arbitrators; arbitral procedures; evidence and experts and burden of proof; form and content of arbitral awards; annulment and enforcement procedures; interaction between Sharia law and arbitration; role of Egypt’s Technical Office for Arbitration (TOA); and judicial fees. Special issues such as third-party funding and public policy as well as particular areas of dispute such as construction, sports, real estate, labor and employment, tax, competition, intellectual property, and technology transfer are all covered. The author offers practical guidelines tailored to arbitration in these specific areas of law. An added feature is the many figures and other visuals that accompany the text. For whoever is planning to or is currently practicing arbitration in the Middle East, this matchless book gives arbitrators, in-house counsel and arbitration practitioners everything that is needed to answer any question likely to arise. This book should be on the shelf of every practitioner and academic wishing to comprehend arbitration in Egypt as construed by the Egyptian Courts. Review/Testimonial: “The book is an excellent contribution to understand and assess Egyptian international arbitration law and practice and invaluable guide for lawyers, arbitrators and academics working on arbitration cases connected to Egypt for three main reasons: First, a case law perspective that adds considerable value to the book. The author examines not only the text of laws but also the case law. On every issue, Mr Shehata quotes the positions of Egyptian courts, especially those of the Egyptian Cassation Court. With more than 2,500 cases cited, the book is a precious source to discover the Egyptian decisions originally only in Arabic. Through an analysis and commentary of a great number of decisions rendered by various levels of Egyptian courts, the book offers the most reliable source with regard to the interpretation and the application of the Law No. 27 of 1994 and the international conventions by Egyptian courts. Second, a complete and far-reaching analysis. The book covers all aspects of the arbitration process from the arbitration agreement to the enforcement of arbitral awards. It includes the specific arbitration sectors such as sport arbitration, construction arbitration and investment arbitration. This coverage makes the book one of the reference work on the whole regime of arbitration in Egypt. Third, an up-to-date study, which takes into account rule changes and up-to-date developments on new trends, such as third-party funding, optional clauses, virtual hearings, the use of tribunal secretaries and issues of ethics in arbitration.” Source / Reviewer: Professor Walid Ben Hamida, University of Paris-Saclay, France. ICC DISPUTE RESOLUTION BULLETIN 2021 | ISSUE 3 |
