The legal and regulatory aspects of Islamic banking : a comparative look at the United Kingdom and Malaysia / Abdul Karim Aldohni.

Format:

Book

Author/Creator:

Aldohni, Abdul Karim.

Series:

Routledge research in finance and banking law

Language:

English

Subjects (All):

Banking law--Great Britain.

Banking law.

Great Britain.

Banking law--Malaysia.

Malaysia.

Banking law (Islamic law).

Banks and banking--Religious aspects--Islam.

Banks and banking.

Banks and banking--State supervision.

Physical Description:

xv, 243 pages ; 24 cm.

Place of Publication:

Milton Park, Abingdon, Oxon, [England] ; New York, N.Y. : Routledge, 2011.

Summary:

"During the last ten years the Islamic banking sector has grown rapidly, at an international level, as well as in individual jurisdictions including the UK. Islamic finance differs quite substantially from conventional banking, using very different mechanisms, and operating according to a different theory as it is based on Islamic law. Yet at the same time it is always subject to the law of the particular financial market in which it operates. This book takes a much-needed and comprehensive look at the legal and regulatory aspects which affect Islamic finance law, and examines the current UK and international banking regulatory frameworks which impact on this sector. The book examines the historical genesis of Islamic banking, looking at how it has developed in Muslim countries before going on to consider the development of Islamic banking in the UK and the legal position of Islamic banks within English law. The book explores company, contract, and some elements of tax law and traces the impact it has had on the development of Islamic banking in the UK, before going on to argue that the current legal and regulatory framework which affects the Islamic banking sector has on certain occasions had an unintended adverse impact on Islamic banking in the UK. The book also provides an overview of the Malaysian experience in relation to some of the main legal and regulatory challenges in the context of Islamic banking and finance"--Provided by publisher.

Contents:

The historical and ideological background of Islamic banks

Legal analysis of the English legal system in comparison to the Islamic legal system

The legal description and classification of Islamic banks under the English law

Islamic banks in practice : the operational aspects of Islamic banking

The banking regulatory and supervisory system in the United Kingdom : an overview

The application of Islamic banking under the conventional banking regulation of the United Kingdom : fit or conflict?

Islamic banking in Malaysia : the Malaysian case study : a legal analysis.

Notes:

Includes bibliographical references (pages [221]-236) and index.

ISBN:

9780415555159

0415555159

OCLC:

691928212

Publisher Number:

99954850612

Online:

Contributor biographical information