Evolution , legal and regulatory issues, and dispute resolution in the modern Islamic banking industry in Sri Lanka /

The foundation of the Islamic banking industry, which was laid during the time of the Prophet Muhammad (pbuh), began to evolve into an organised banking system in the twentieth century. It has been expanding around the globe and at present is emerging as a viable alternative system of banking to its...

Full description

Saved in:
Bibliographic Details
Main Author: Nafees, Seeni Mohamed Mohamed (Author)
Format: Thesis
Language:English
Published: Kuala Lumpur: Ahmad Ibrahim Kulliyyah of Laws,International Islamic University Malaysia, 2011
Subjects:
Online Access:http://studentrepo.iium.edu.my/handle/123456789/1506
Tags: Add Tag
No Tags, Be the first to tag this record!
LEADER 044500000a22004090004500
008 180918s2011 my a f m 000 0 eng d
040 |a UIAM  |b eng  |e rda 
041 |a eng 
043 |a a-my--- 
084 |a BPH242.S72 
100 1 |a Nafees, Seeni Mohamed Mohamed,  |e author 
245 1 0 |a Evolution , legal and regulatory issues, and dispute resolution in the modern Islamic banking industry in Sri Lanka /  |c by Seeni Mohamed Mohamed Nafees 
264 1 |a Kuala Lumpur:   |b Ahmad Ibrahim Kulliyyah of Laws,International Islamic University Malaysia,  |c 2011 
300 |a xix, 385 leaves :  |b colour illustrations ;  |c 30cm. 
336 |2 rdacontent  |a text 
337 |2 rdamedia  |a unmediated 
337 |2 rdamedia  |a computer 
338 |2 rdacarrier  |a volume 
338 |2 rdacarrier  |a computer disc 
338 |2 rdacarrier  |a online resource 
342 |2 rdaft  |a text file  |b PDF 
500 |a Abstracts in English and Arabic. 
500 |a "A thesis submitted in fulfilment of the requirement for the degree of Doctor of Philosophy (Law)." --On title page. 
502 |a Thesis (Ph.D)--International Islamic University Malaysia, 2011. 
504 |a Includes bibliographical references (leaves 351-375). 
520 |a The foundation of the Islamic banking industry, which was laid during the time of the Prophet Muhammad (pbuh), began to evolve into an organised banking system in the twentieth century. It has been expanding around the globe and at present is emerging as a viable alternative system of banking to its Western counterpart. The Islamic banking industry has also reached Sri Lanka, which is among a few non-Islamic jurisdictions where legislation on Islamic banking has been introduced. In order to evaluate the industry in the country, this study is conducted. For this purpose, a qualitative method of research is adopted and personal interviews are also conducted with industry players and Nulame to provide more strength and depth to the study. In line with this, various libraries are utilised where books, journals, articles, cases and electronic sources retrieved through online database are referred. Furthermore, the United Kingdom and Bahrain ere also included in the study in order to see how the industry is operated in different jurisdictions and such a focus is expected to be beneficial to a developing non-Muslim country such as Sri Lanka. It is remarkable that these jurisdictions, the United Kingdom and Bahrain, are recognised as gateways to Islamic banking in Europe and the Middle Eastern region respectively. Consequently, the study found that basically there are no hurdles in the way of implementing Islamic banking in Sri Lanka. Similarly, it is concluded that there are no impediments in marketing the Islamic banking products such as mudarabah, murabahah, ijarah and musharakah. However, in order to provide a level playing field to the Islamic banking industry, there are a number of legal arrangements and amendments in terms of regulation which must be made available in due course. Thus, the legislation pertaining to, inter alia, corporate tax, stamp duty, means of dispute resolution and licensing procedures is to be made more conducive to the industry. The role of the Shareeah in the regulation of the industry must also be duly recognised. Finally, it is concluded that if all the suggestions and recommendations proposed by the study are properly incorporated into the legislation of Sri Lanka, it will certainly help the Islamic banking industry in the country to grow fast and emerge as an Islamic banking hub in the South Asian region as Malaysia and Bahrain where comprehensive legislation on Islamic banking has been introduced. 
596 |a 1 
650 0 |a Banks and banking  |x Religious aspects Islam 
650 0 |a Banks and banking  |z Sri Lanka 
655 7 |a Theses, IIUM local 
690 |a Dissertations, Academic  |x Ahmad Ibrahim Kulliyyah of Laws  |z IIUM 
710 2 |a International Islamic University Malaysia.  |b Ahmad Ibrahim Kulliyyah of Laws 
856 4 |u http://studentrepo.iium.edu.my/handle/123456789/1506 
900 |a sbh-ls 
999 |c 434980  |d 463875 
952 |0 0  |6 T BPH 242 S72 N34 2011  |7 0  |8 THESES  |9 756768  |a IIUM  |b IIUM  |c MULTIMEDIA  |g 0.00  |o t BPH 242 S72 N34 2011  |p 00011236073  |r 2018-10-01  |t 1  |v 0.00  |y THESIS 
952 |0 0  |6 TS CDF BPH 242 S72 N34 2011  |7 0  |8 THESES  |9 847704  |a IIUM  |b IIUM  |c MULTIMEDIA  |g 0.00  |o ts cdf BPH 242 S72 N34 2011  |p 00000873806  |r 2018-10-02  |t 1  |v 0.00  |y THESISDIG