The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges

Abstract: With the tremendous growth experienced in the Islamic finance industry within the past decade, there is an increasing call for self-evaluation in order to reemphasize the need to realize original value proposition of Islamic financial intermediation in Islamic commercial law. The Islamic...

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Main Authors:	Oseni, Umar Aimhanosi, Kadouf, Hunud Abia, Ansari, Abdul Haseeb, Olayemi, Abdul Azeez Maruf
Format:	Article
Language:	English
Published:	AENSI Publications 2012
Subjects:	K Law (General)
Online Access:	http://irep.iium.edu.my/27721/ http://irep.iium.edu.my/27721/ http://irep.iium.edu.my/27721/1/AJBAS-Ap._239-245.pdf

id	iium-27721
recordtype	eprints
spelling	iium-277212014-04-16T04:10:54Z http://irep.iium.edu.my/27721/ The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges Oseni, Umar Aimhanosi Kadouf, Hunud Abia Ansari, Abdul Haseeb Olayemi, Abdul Azeez Maruf K Law (General) Abstract: With the tremendous growth experienced in the Islamic finance industry within the past decade, there is an increasing call for self-evaluation in order to reemphasize the need to realize original value proposition of Islamic financial intermediation in Islamic commercial law. The Islamic finance industry has been criticized by some skeptics that it has skid off the track of its original trajectory envisioned by its pioneers. This paper therefore examines some current legal and regulatory challenges in identifying the original value proposition of Islamic financial intermediation in the modern Islamic finance industry. As an exploratory study, this paper identifies a number of legal and regulatory reforms necessary to reposition the global Islamic finance industry in order to make it more conventionally viable without compromising the fundamentals of Sharī'ah. The paper concludes with the need to rekindle the original value proposition of Islamic finance, particularly in countries where Islamic finance is just gaining grounds. It is always good to get things right at the initial stage to avoid some sort of legal and regulatory transplants that are not adaptable to such jurisdictions. Key words: Islamic finance, law, value proposition, Islamic financial intermediation. AENSI Publications 2012-11-19 Article PeerReviewed application/pdf en http://irep.iium.edu.my/27721/1/AJBAS-Ap._239-245.pdf Oseni, Umar Aimhanosi and Kadouf, Hunud Abia and Ansari, Abdul Haseeb and Olayemi, Abdul Azeez Maruf (2012) The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges. Australian Journal of Basic and Applied Sciences, 6 (11). pp. 239-245. ISSN 1991-8178 http://www.ajbasweb.com/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General)
spellingShingle	K Law (General) Oseni, Umar Aimhanosi Kadouf, Hunud Abia Ansari, Abdul Haseeb Olayemi, Abdul Azeez Maruf The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges
description	Abstract: With the tremendous growth experienced in the Islamic finance industry within the past decade, there is an increasing call for self-evaluation in order to reemphasize the need to realize original value proposition of Islamic financial intermediation in Islamic commercial law. The Islamic finance industry has been criticized by some skeptics that it has skid off the track of its original trajectory envisioned by its pioneers. This paper therefore examines some current legal and regulatory challenges in identifying the original value proposition of Islamic financial intermediation in the modern Islamic finance industry. As an exploratory study, this paper identifies a number of legal and regulatory reforms necessary to reposition the global Islamic finance industry in order to make it more conventionally viable without compromising the fundamentals of Sharī'ah. The paper concludes with the need to rekindle the original value proposition of Islamic finance, particularly in countries where Islamic finance is just gaining grounds. It is always good to get things right at the initial stage to avoid some sort of legal and regulatory transplants that are not adaptable to such jurisdictions. Key words: Islamic finance, law, value proposition, Islamic financial intermediation.
format	Article
author	Oseni, Umar Aimhanosi Kadouf, Hunud Abia Ansari, Abdul Haseeb Olayemi, Abdul Azeez Maruf
author_facet	Oseni, Umar Aimhanosi Kadouf, Hunud Abia Ansari, Abdul Haseeb Olayemi, Abdul Azeez Maruf
author_sort	Oseni, Umar Aimhanosi
title	The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges
title_short	The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges
title_full	The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges
title_fullStr	The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges
title_full_unstemmed	The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges
title_sort	value proposition of islamic financial intermediation: some current legal and regulatory challenges
publisher	AENSI Publications
publishDate	2012
url	http://irep.iium.edu.my/27721/ http://irep.iium.edu.my/27721/ http://irep.iium.edu.my/27721/1/AJBAS-Ap._239-245.pdf
first_indexed	2023-09-18T20:41:05Z
last_indexed	2023-09-18T20:41:05Z
_version_	1777409369742245888

The value proposition of Islamic Financial intermediation: some current legal and regulatory challenges

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