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Legal and Regulatory Aspects of Islamic Banking: A Comparative Look at the United Kingdom and Malaysia


ISBN13: 9780415859684
Published: April 2013
Publisher: Routledge-Cavendish
Country of Publication: UK
Format: Paperback (Hardback in 2011)
Price: £30.00
Hardback edition , ISBN13 9780415555159



This is a Print On Demand Title.
The publisher will print a copy to fulfill your order. Books can take between 1 to 3 weeks. Looseleaf titles between 1 to 2 weeks.

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 Sharia law, but 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 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 often had a negative impact on Islamic banking in the UK.

Subjects:
Islamic Law
Contents:
1. Introduction
2. The Historical and Ideological Background of Islamic Banks
3. Legal Analysis of the English Legal System in Comparison to the Islamic Legal System
4. The Legal Description and Classification of Islamic Banks Under the English Law
5. Islamic Banks in Practice: The Operational Aspects of Islamic Banking
6. The Banking Regulatory and Supervisory System in the United Kingdom: An Overview
7. The Application of Islamic Banking Under the Conventional Banking Regulation of the United Kingdom: Fit or Conflict?
8. Islamic Banking in Malaysia, the Malaysian Case Study: A Legal Analysis
9. Concluding Remarks