HOW IMPORTANT IS IT TO HAVE A SPECIAL LAW GOVERNING ISLAMIC BANKING'

Authors

  • Oluwaseun S. Saidu University of Manchester, United Kingdom

Keywords:

Islamic banking, comparative analysis, governing law, shariah, with or without, compatibility

Abstract

The ascendancy of Islamic finance particularly its offshoot, Islamic banking has been aggressive considering its spate of development. A salient factor responsible for this is the governing law for such financing paradigm. It is however contestable whether the workability of Islamic banking hinges on dedicated governing laws, amended subsisting laws or existing laws. In other words, is the existing legal (conventional) infrastructure adequate for any Islamic finance jurisdiction, or is there a need for a separate governing law? It is evident that this question is pertinent, vexed and has far-reaching implications. This article seeks to attend to this question in a very concise manner. Thus, the author forms an opinion common-sensibly resorting to comparative analysis, with or without judgements as well as real world country case studies.

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Published

2014-12-31

How to Cite

Saidu, O. S. (2014). HOW IMPORTANT IS IT TO HAVE A SPECIAL LAW GOVERNING ISLAMIC BANKING’. Online Journal of Research in Islamic Studies, 1(3), 1–7. Retrieved from https://adab.um.edu.my/index.php/RIS/article/view/9886

Issue

Vol. 1 No. 3 (2014)

Section

Research Articles

License

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