'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...

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Main Authors:	Abd Ghadas, Zuhairah Ariff, Abdul Rahman, Nasarudin, Hassan, Halyani
Format:	Article
Language:	English
Published:	Inderscience Enterprises Ltd. 2013
Subjects:	K Law (General)
Online Access:	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

id	iium-37082
recordtype	eprints
spelling	iium-370822014-06-26T06:21:38Z 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
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) 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
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.
format	Article
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
title	'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_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_sort	'shari'ah corporation': the legal entity of corporation from the malaysian law and shari'ah perspective
publisher	Inderscience Enterprises Ltd.
publishDate	2013
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
first_indexed	2023-09-18T20:53:11Z
last_indexed	2023-09-18T20:53:11Z
_version_	1777410130749423616

'Shari'ah corporation': the legal entity of corporation from the Malaysian law and shari'ah perspective

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