Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
In order to keep the cost of settling disputes low and standards for grievance remedial methods high, access to justice is paramount in today’s fast pace commercial transactions in the digital world. In Malaysia, the successes recorded in the Islamic banking industry do not just flourish without som...
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| Format: | Article |
| Language: | English English |
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Routledge - Taylor & Francis Group
2015
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| Online Access: | http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/2/Banking_on_ICT_-_The_relevance_of_online_dispute_resolution_in_the_IF_Indusrty.pdf http://irep.iium.edu.my/46895/7/46895_banking_on_ICT_scopus.pdf |
| _version_ | 1848783047618461696 |
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| author | Oseni, Umar Aimhanosi |
| author_facet | Oseni, Umar Aimhanosi |
| author_sort | Oseni, Umar Aimhanosi |
| building | IIUM Repository |
| collection | Online Access |
| description | In order to keep the cost of settling disputes low and standards for grievance remedial methods high, access to justice is paramount in today’s fast pace commercial transactions in the digital world. In Malaysia, the successes recorded in the Islamic banking industry do not just flourish without some consequential challenges such as the increasing rate of disputes involving Islamic financial products and services. Though the number of widely reported cases heard and determined by the courts between 1985 and 2010 are about 20, the Financial Mediation Bureau seems to be more active in dispute resolution in the industry. This study seeks to explore the relevance of such mechanism that would use five distinct but connected modules for dispute settlement. This pioneering research introduces a new dimension in the sustainability of the economy by leveraging the state-of-the-art information and communication technology (ICT) in resolving banking disputes in the Islamic finance industry in Malaysia. Exploring the relevance of such online dispute resolution platform for Islamic finance disputes will serve as a launch pad for further studies that will involve the design and application of such technology in the Islamic finance industry. |
| first_indexed | 2025-11-14T16:15:09Z |
| format | Article |
| id | iium-46895 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:15:09Z |
| publishDate | 2015 |
| publisher | Routledge - Taylor & Francis Group |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-468952019-10-16T08:42:41Z http://irep.iium.edu.my/46895/ Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia Oseni, Umar Aimhanosi HG1501 Banking K Law (General) T10.5 Communication of technical information In order to keep the cost of settling disputes low and standards for grievance remedial methods high, access to justice is paramount in today’s fast pace commercial transactions in the digital world. In Malaysia, the successes recorded in the Islamic banking industry do not just flourish without some consequential challenges such as the increasing rate of disputes involving Islamic financial products and services. Though the number of widely reported cases heard and determined by the courts between 1985 and 2010 are about 20, the Financial Mediation Bureau seems to be more active in dispute resolution in the industry. This study seeks to explore the relevance of such mechanism that would use five distinct but connected modules for dispute settlement. This pioneering research introduces a new dimension in the sustainability of the economy by leveraging the state-of-the-art information and communication technology (ICT) in resolving banking disputes in the Islamic finance industry in Malaysia. Exploring the relevance of such online dispute resolution platform for Islamic finance disputes will serve as a launch pad for further studies that will involve the design and application of such technology in the Islamic finance industry. Routledge - Taylor & Francis Group 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/46895/2/Banking_on_ICT_-_The_relevance_of_online_dispute_resolution_in_the_IF_Indusrty.pdf application/pdf en http://irep.iium.edu.my/46895/7/46895_banking_on_ICT_scopus.pdf Oseni, Umar Aimhanosi (2015) Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia. Information and Communications Technology Law, 24 (2). pp. 205-223. ISSN 1360-0834 (P) 1469-8404 (O) http://www.tandfonline.com/doi/full/10.1080/13600834.2015.1067968#abstract 10.1080/13600834.2015.1067968 |
| spellingShingle | HG1501 Banking K Law (General) T10.5 Communication of technical information Oseni, Umar Aimhanosi Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia |
| title | Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia |
| title_full | Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia |
| title_fullStr | Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia |
| title_full_unstemmed | Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia |
| title_short | Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia |
| title_sort | banking on ict: the relevance of online dispute resolution in the islamic banking industry in malaysia |
| topic | HG1501 Banking K Law (General) T10.5 Communication of technical information |
| url | http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/2/Banking_on_ICT_-_The_relevance_of_online_dispute_resolution_in_the_IF_Indusrty.pdf http://irep.iium.edu.my/46895/7/46895_banking_on_ICT_scopus.pdf |