'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective
Under the Malaysian law which is based on the English law, companies are recognised as a legal person and the metaphor of corporate personality is used to justify the company’s legal framework. As a creature of the statute, companies’ totally depend on the Companies Act. On the other hand, under Sha...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Inderscience Enterprises Ltd.
2013
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/37082/ http://irep.iium.edu.my/37082/1/IJLSE_Full_Paper.pdf |
| _version_ | 1848781349092065280 |
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| author | Abd Ghadas, Zuhairah Ariff Abdul Rahman, Nasarudin Hassan, Halyani |
| author_facet | Abd Ghadas, Zuhairah Ariff Abdul Rahman, Nasarudin Hassan, Halyani |
| author_sort | Abd Ghadas, Zuhairah Ariff |
| building | IIUM Repository |
| collection | Online Access |
| description | Under the Malaysian law which is based on the English law, companies are recognised as a legal person and the metaphor of corporate personality is used to justify the company’s legal framework. As a creature of the statute, companies’ totally depend on the Companies Act. On the other hand, under Shari’ah, the existence of business entity is based upon agreement between the parties and the legal basis of Shari’ah business structure is the contractual principles. With the recent rapid development in Shari’ah compliance businesses in Malaysia, such as Islamic finance and halal products, there is a question on whether Shari’ah businesses could be carried out in a civil law business structure. This paper analyse companies’ legal framework under the Malaysian law and compare them with the principles of Shari’ah. The outcome of this paper is a proposal for a legal framework of an Islamic corporation. |
| first_indexed | 2025-11-14T15:48:09Z |
| format | Article |
| id | iium-37082 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T15:48:09Z |
| publishDate | 2013 |
| publisher | Inderscience Enterprises Ltd. |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-370822024-08-08T08:45:23Z http://irep.iium.edu.my/37082/ 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective Abd Ghadas, Zuhairah Ariff Abdul Rahman, Nasarudin Hassan, Halyani K Law (General) Under the Malaysian law which is based on the English law, companies are recognised as a legal person and the metaphor of corporate personality is used to justify the company’s legal framework. As a creature of the statute, companies’ totally depend on the Companies Act. On the other hand, under Shari’ah, the existence of business entity is based upon agreement between the parties and the legal basis of Shari’ah business structure is the contractual principles. With the recent rapid development in Shari’ah compliance businesses in Malaysia, such as Islamic finance and halal products, there is a question on whether Shari’ah businesses could be carried out in a civil law business structure. This paper analyse companies’ legal framework under the Malaysian law and compare them with the principles of Shari’ah. The outcome of this paper is a proposal for a legal framework of an Islamic corporation. Inderscience Enterprises Ltd. 2013 Article PeerReviewed application/pdf en http://irep.iium.edu.my/37082/1/IJLSE_Full_Paper.pdf Abd Ghadas, Zuhairah Ariff and Abdul Rahman, Nasarudin and Hassan, Halyani (2013) 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective. International Journal Liability and Scientific Enquiry, 6 (4). pp. 232-246. ISSN 1741-6434 (O) 1741-6426 (P) http://www.inderscience.com/jhome.php?jcode=ijlse 10.1504/IJLSE.2013.060845 |
| spellingShingle | K Law (General) Abd Ghadas, Zuhairah Ariff Abdul Rahman, Nasarudin Hassan, Halyani 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective |
| title | 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective |
| title_full | 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective |
| title_fullStr | 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective |
| title_full_unstemmed | 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective |
| title_short | 'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective |
| title_sort | 'shari'ah corporation': the legal entity of corporation from the malaysian law and shari'ah perspective |
| topic | K Law (General) |
| url | http://irep.iium.edu.my/37082/ http://irep.iium.edu.my/37082/ http://irep.iium.edu.my/37082/ http://irep.iium.edu.my/37082/1/IJLSE_Full_Paper.pdf |