Dispute Resolution in Islamic Finance addresses how best to handle disputes within Islamic finance. It examines how they can be resolved in a less confrontational manner and ensure such disagreements are settled in a just and fair way.
There has been little focus on how disputes within Islamic finance are resolved. As a result, many of these disputes are resolved through litigation, notwithstanding that the various jurisdictions and court systems are generally poorly equipped to handle such matters. This book addresses this gap in our knowledge by focusing on five centres of Islamic finance: the United Kingdom, the United States of America, Malaysia, the Kingdom of Saudi Arabia and the United Arab Emirates. Before exploring these countries in detail, the book considers the issues of the choice of law within Islamic finance as well the prevailing forms of dispute resolution in this form of finance.
The book brings together a group of leading scholars who are all specialists on the subject in the countries they examine. It is a key resource for students and researchers of Islamic finance, and aimed at lawyers, finance professionals, industry practitioners, consultancy firms, and academics.
1. In search of an effective dispute resolution mechanism in Islamic finance Adnan Trakic, John Benson, and Pervaiz K Ahmed 2. Choice of law in Islamic finance Julio C. Colón 3. Prevailing dispute resolution mechanisms in Islamic finance Siti Faridah Abdul Jabbar, Suzana Muhamad Said and Asma Hakimah Ab Halim 4. Islamic dispute resolution in the United Kingdom Maria Bhatti 5. Settlement of Islamic finance disputes in the United States of America Julio C. Colón 6. Settlement of Islamic finance disputes in Malaysia Adnan Trakic 7. Settlement of Islamic finance disputes in the Kingdom of Saudi Arabia Aishath Muneeza and Zakariya Mustapha 8. Settlement of Islamic finance disputes in the United Arab Emirates Nor Razinah Binti Mohd Zain and Rusni Hassan 9. Dispute resolution in Islamic finance: the way forward John Benson, Adnan Trakic and Pervaiz K Ahmed