The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar

Islamic Banking is fast growing business in Malaysia since inception in 1983. Al-Bai Bithaman Ajil has become its main products. But, there is no specific law to address and govern the al-Bai Bithaman Ajil transactions in Malaysia. The Islamic Banking Act of 1983 is only a regulatory act. The issues...

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Bibliographic Details
Main Author:	Jaafar, Mohamad Suffian
Format:	Thesis
Language:	English
Published:	2007
Subjects:	Banking Constitutional law
Online Access:	https://ir.uitm.edu.my/id/eprint/38592/1/38592.pdf
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id	my-uitm-ir.38592
record_format	uketd_dc
spelling	my-uitm-ir.385922020-12-15T04:38:53Z The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar 2007 Jaafar, Mohamad Suffian Banking Constitutional law Islamic Banking is fast growing business in Malaysia since inception in 1983. Al-Bai Bithaman Ajil has become its main products. But, there is no specific law to address and govern the al-Bai Bithaman Ajil transactions in Malaysia. The Islamic Banking Act of 1983 is only a regulatory act. The issues discussed by the judges before handing the decisions will be the main focus as it provides the answer pertaining to the grey issues related to al-Bai Bithaman Ajil in Malaysia. The decisions are required and handy in clarifying and addressing certain weaknesses, ambiguity and unclear interpretation in the question of law such as the jurisdiction of Court, the application of conventional law, i.e the National Land Code 1965. This study suggests that a separated procedural and substantive law should be gazetted for al-Bai Bithaman Ajil. This is due to the fact the current laws being applied by the Court is not Shariah compliant. In addition, it is also suggested that certain legal powers should be given to the Shariah Advisory Council to interfere in the proceedings of the Court. At present, the Council's role is to advice to the Bank Negara Malaysia and has no legal authority. 2007 Thesis https://ir.uitm.edu.my/id/eprint/38592/ https://ir.uitm.edu.my/id/eprint/38592/1/38592.pdf text en public degree Universiti Teknologi MARA Faculty of Law Mohamed Adil, Mohamed Azam (Dr.)
institution	Universiti Teknologi MARA
collection	UiTM Institutional Repository
language	English
advisor	Mohamed Adil, Mohamed Azam (Dr.)
topic	Banking Constitutional law
spellingShingle	Banking Constitutional law Jaafar, Mohamad Suffian The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
description	Islamic Banking is fast growing business in Malaysia since inception in 1983. Al-Bai Bithaman Ajil has become its main products. But, there is no specific law to address and govern the al-Bai Bithaman Ajil transactions in Malaysia. The Islamic Banking Act of 1983 is only a regulatory act. The issues discussed by the judges before handing the decisions will be the main focus as it provides the answer pertaining to the grey issues related to al-Bai Bithaman Ajil in Malaysia. The decisions are required and handy in clarifying and addressing certain weaknesses, ambiguity and unclear interpretation in the question of law such as the jurisdiction of Court, the application of conventional law, i.e the National Land Code 1965. This study suggests that a separated procedural and substantive law should be gazetted for al-Bai Bithaman Ajil. This is due to the fact the current laws being applied by the Court is not Shariah compliant. In addition, it is also suggested that certain legal powers should be given to the Shariah Advisory Council to interfere in the proceedings of the Court. At present, the Council's role is to advice to the Bank Negara Malaysia and has no legal authority.
format	Thesis
qualification_level	Bachelor degree
author	Jaafar, Mohamad Suffian
author_facet	Jaafar, Mohamad Suffian
author_sort	Jaafar, Mohamad Suffian
title	The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_short	The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_full	The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_fullStr	The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_full_unstemmed	The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar
title_sort	application of islamic banking in malaysia: a case study on the court decisions in matters relating to al-baibithaman ajil / mohamad suffian jaafar
granting_institution	Universiti Teknologi MARA
granting_department	Faculty of Law
publishDate	2007
url	https://ir.uitm.edu.my/id/eprint/38592/1/38592.pdf
_version_	1783734476797378560

The application of Islamic Banking in Malaysia: a case study on the court decisions in matters relating to Al-Baibithaman Ajil / Mohamad Suffian Jaafar

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