Abstract
The rapid development of commercial activity in the Islamic world has also led to a growing interest in laws and procedures regulating Islamic finance disputes, and the potential tension between the Western model of commercial arbitration and Islamic legal principles. Consequently, the arbitration of Islamic finance disputes becomes relevant. Islamic traditions influence arbitration in the Middle East, and therefore, Islamic jurisprudence plays a crucial role when trying to understand and analyse the function of international commercial arbitration in resolving Islamic finance disputes. In light of the global financial crisis, it is vital for the Middle East to become a more popular destination for commercial arbitration. A more consistent form of 'public policy' in accordance with Shari'a law needs to be set out and applied as a standard throughout the Islamic Middle East in order to give Islamic Commercial Arbitration more legitimacy.
| Original language | English |
|---|---|
| Title of host publication | The Growth of Islamic Finance and Banking |
| Subtitle of host publication | Innovation, Governance and Risk Mitigation |
| Publisher | Taylor & Francis |
| Pages | 254-261 |
| Number of pages | 8 |
| ISBN (Electronic) | 9780429553035 |
| ISBN (Print) | 9780367205881 |
| Publication status | Published - 12 Sept 2019 |
Bibliographical note
Publisher Copyright:© 2020 selection and editorial matter, Hussain Mohi-ud-Din Qadri and M. Ishaq Bhatti All rights reserved.
