Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry
Purpose – The paper aims to examine significant developments in the institutional framework for dispute resolution in the Islamic finance industry in Malaysia. Malaysia, as part of its efforts to consolidate its enviable Islamic finance industry, has strengthened its institutional framework for d...
| Main Authors: | , |
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| Format: | Article |
| Language: | English English English |
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Emerald Group Publishing Limited
2016
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| Online Access: | http://irep.iium.edu.my/49948/ http://irep.iium.edu.my/49948/1/Towards_a_Global_Hub_-_The_Legal_Framework_for_Dispute_Reoslution_in_Malaysia%27s_Islamic_FInance_Industry.pdf http://irep.iium.edu.my/49948/4/49948_towards_a_global_hub_scopus.pdf http://irep.iium.edu.my/49948/5/49948_towards_a_global_hub_wos.pdf |
| _version_ | 1848783549095739392 |
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| author | Oseni, Umar Aimhanosi Ahmad, Abu Umar Faruq |
| author_facet | Oseni, Umar Aimhanosi Ahmad, Abu Umar Faruq |
| author_sort | Oseni, Umar Aimhanosi |
| building | IIUM Repository |
| collection | Online Access |
| description | Purpose – The paper aims to examine significant developments in the institutional framework for
dispute resolution in the Islamic finance industry in Malaysia. Malaysia, as part of its efforts to
consolidate its enviable Islamic finance industry, has strengthened its institutional framework for
dispute resolution.
Design/methodology/approach – Data for this study were collected from both primary and
secondary legal sources. Through a conceptual legal analysis, the institutional frameworks of dispute
resolution in the Malaysia’s Islamic finance industry are studied.
Findings – The study finds that Malaysia is far ahead of other jurisdictions by a significant margin in
spearheading reforms in the emerging global Islamic finance industry. The dispute resolution
framework has been largely affected by the recent reforms.
Research limitations/implications – Other jurisdictions may borrow a leaf from Malaysia’s
initiative in providing a robust legal framework for dispute management in the Islamic finance
industry.
Practical implications – Apart from adopting Malaysia’s framework and possibly adapting it to
suit their specific local variations, other jurisdictions may also encourage Islamic financial institutions
to incorporate effective dispute resolution processes in Islamic finance contracts.
Originality value – This study critically discussed most recent developments in the institutional
framework on dispute resolution in the Islamic finance industry in Malaysia. |
| first_indexed | 2025-11-14T16:23:07Z |
| format | Article |
| id | iium-49948 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English English |
| last_indexed | 2025-11-14T16:23:07Z |
| publishDate | 2016 |
| publisher | Emerald Group Publishing Limited |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-499482017-02-11T20:37:07Z http://irep.iium.edu.my/49948/ Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry Oseni, Umar Aimhanosi Ahmad, Abu Umar Faruq HG Finance K Law (General) KBP Islamic Law Purpose – The paper aims to examine significant developments in the institutional framework for dispute resolution in the Islamic finance industry in Malaysia. Malaysia, as part of its efforts to consolidate its enviable Islamic finance industry, has strengthened its institutional framework for dispute resolution. Design/methodology/approach – Data for this study were collected from both primary and secondary legal sources. Through a conceptual legal analysis, the institutional frameworks of dispute resolution in the Malaysia’s Islamic finance industry are studied. Findings – The study finds that Malaysia is far ahead of other jurisdictions by a significant margin in spearheading reforms in the emerging global Islamic finance industry. The dispute resolution framework has been largely affected by the recent reforms. Research limitations/implications – Other jurisdictions may borrow a leaf from Malaysia’s initiative in providing a robust legal framework for dispute management in the Islamic finance industry. Practical implications – Apart from adopting Malaysia’s framework and possibly adapting it to suit their specific local variations, other jurisdictions may also encourage Islamic financial institutions to incorporate effective dispute resolution processes in Islamic finance contracts. Originality value – This study critically discussed most recent developments in the institutional framework on dispute resolution in the Islamic finance industry in Malaysia. Emerald Group Publishing Limited 2016-01 Article PeerReviewed application/pdf en http://irep.iium.edu.my/49948/1/Towards_a_Global_Hub_-_The_Legal_Framework_for_Dispute_Reoslution_in_Malaysia%27s_Islamic_FInance_Industry.pdf application/pdf en http://irep.iium.edu.my/49948/4/49948_towards_a_global_hub_scopus.pdf application/pdf en http://irep.iium.edu.my/49948/5/49948_towards_a_global_hub_wos.pdf Oseni, Umar Aimhanosi and Ahmad, Abu Umar Faruq (2016) Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry. International Journal of Law and Management, 58 (1). 48 -72. ISSN 1754-243X http://www.emeraldinsight.com/doi/full/10.1108/IJLMA-08-2014-0052 10.1108/IJLMA-08-2014-0052 |
| spellingShingle | HG Finance K Law (General) KBP Islamic Law Oseni, Umar Aimhanosi Ahmad, Abu Umar Faruq Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry |
| title | Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry |
| title_full | Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry |
| title_fullStr | Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry |
| title_full_unstemmed | Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry |
| title_short | Towards a global hub: The legal framework for dispute resolution in Malaysia’s Islamic finance industry |
| title_sort | towards a global hub: the legal framework for dispute resolution in malaysia’s islamic finance industry |
| topic | HG Finance K Law (General) KBP Islamic Law |
| url | http://irep.iium.edu.my/49948/ http://irep.iium.edu.my/49948/ http://irep.iium.edu.my/49948/ http://irep.iium.edu.my/49948/1/Towards_a_Global_Hub_-_The_Legal_Framework_for_Dispute_Reoslution_in_Malaysia%27s_Islamic_FInance_Industry.pdf http://irep.iium.edu.my/49948/4/49948_towards_a_global_hub_scopus.pdf http://irep.iium.edu.my/49948/5/49948_towards_a_global_hub_wos.pdf |