Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis

Malaysia, apart from being recognised as a global hub for Islamic finance, is gradually emerging as a major arbitration hub in the Asia-Pacific region. While there are other world-class arbitral institutions in the region, Malaysia stands a chance to lead the region when it comes to Islamic finance...

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Main Authors:	Oseni, Umar Aimhanosi, Abdul-Qadir Zubair, Aishat
Format:	Conference or Workshop Item
Language:	English
Published:	2014
Subjects:	HG Finance K Law (General) KBP Islamic Law
Online Access:	http://irep.iium.edu.my/38301/ http://irep.iium.edu.my/38301/ http://irep.iium.edu.my/38301/1/Oseni_arbitration.pdf

id	iium-38301
recordtype	eprints
spelling	iium-383012015-10-16T01:21:57Z http://irep.iium.edu.my/38301/ Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis Oseni, Umar Aimhanosi Abdul-Qadir Zubair, Aishat HG Finance K Law (General) KBP Islamic Law Malaysia, apart from being recognised as a global hub for Islamic finance, is gradually emerging as a major arbitration hub in the Asia-Pacific region. While there are other world-class arbitral institutions in the region, Malaysia stands a chance to lead the region when it comes to Islamic finance arbitration. Therefore, in order to examine the suitability of arbitration with Islamic finance disputes, considering recent reforms in the legal and regulatory framework in Islamic finance in Malaysia, this study adopts the SWOT analysis method, namely, the Strength-Weakness-Opportunity-Threat model. It analyzes the needs and expectations of the parties (bankers and customers) vis-à-vis the existing legal framework for arbitration in Malaysia. The Arbitration Act 2005 is the principal law that regulates all arbitral proceedings in Malaysia; and for arbitration involving Islamic finance transactions, the Kuala Lumpur Regional Centre for Arbitration has issued its i-Arbitration Rules 2013 under which a number of arbitral disputes have been resolved. The paper concludes that for Malaysia to become the preferred forum for settlement of Islamic finance disputes, particularly those that emanate from cross-border transactions, it needs to address number of threats that currently stare at the practice of arbitration in the country. 2014 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/38301/1/Oseni_arbitration.pdf Oseni, Umar Aimhanosi and Abdul-Qadir Zubair, Aishat (2014) Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis. In: Islamic Business Management Conference (IBMC 2014), 18-19 August 2014, Kuala Lumpur. http://www.hiccob.uum.edu.my/index.php/ibmcintroduction
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance K Law (General) KBP Islamic Law
spellingShingle	HG Finance K Law (General) KBP Islamic Law Oseni, Umar Aimhanosi Abdul-Qadir Zubair, Aishat Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis
description	Malaysia, apart from being recognised as a global hub for Islamic finance, is gradually emerging as a major arbitration hub in the Asia-Pacific region. While there are other world-class arbitral institutions in the region, Malaysia stands a chance to lead the region when it comes to Islamic finance arbitration. Therefore, in order to examine the suitability of arbitration with Islamic finance disputes, considering recent reforms in the legal and regulatory framework in Islamic finance in Malaysia, this study adopts the SWOT analysis method, namely, the Strength-Weakness-Opportunity-Threat model. It analyzes the needs and expectations of the parties (bankers and customers) vis-à-vis the existing legal framework for arbitration in Malaysia. The Arbitration Act 2005 is the principal law that regulates all arbitral proceedings in Malaysia; and for arbitration involving Islamic finance transactions, the Kuala Lumpur Regional Centre for Arbitration has issued its i-Arbitration Rules 2013 under which a number of arbitral disputes have been resolved. The paper concludes that for Malaysia to become the preferred forum for settlement of Islamic finance disputes, particularly those that emanate from cross-border transactions, it needs to address number of threats that currently stare at the practice of arbitration in the country.
format	Conference or Workshop Item
author	Oseni, Umar Aimhanosi Abdul-Qadir Zubair, Aishat
author_facet	Oseni, Umar Aimhanosi Abdul-Qadir Zubair, Aishat
author_sort	Oseni, Umar Aimhanosi
title	Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis
title_short	Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis
title_full	Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis
title_fullStr	Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis
title_full_unstemmed	Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis
title_sort	arbitration of islamic finance disputes in malaysia: a swot analysis
publishDate	2014
url	http://irep.iium.edu.my/38301/ http://irep.iium.edu.my/38301/ http://irep.iium.edu.my/38301/1/Oseni_arbitration.pdf
first_indexed	2023-09-18T20:55:01Z
last_indexed	2023-09-18T20:55:01Z
_version_	1777410245783453696

Arbitration of Islamic finance disputes in Malaysia: a SWOT analysis

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