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Litigation or Arbitration for Resolving Islamic Banking Disputes
Arab Law Quarterly Pub Date : 2018-11-09 , DOI: 10.1163/15730255-12324040
Farouq Saber Al-Shibli 1
Affiliation  

When investors decide to deal with Islamic banks, one of their main concerns is to ensure their businesses are protected in the case of disputes arising. For this reason, developing a good legal framework for resolving disputes is crucial to strengthen the position of Islamic banks in the global financial market. However, the unique nature of Islamic financial products and transactions requires that the disputes arising from this sector should not be dealt with by means of conventional laws and courts (litigation). It can be said that current practice, where Islamic banking and finance disputes are resolved by litigation with lopsided judgments is counterproductive to the practice of Islamic banking and finance. This article therefore explores the problems associated with resolving Islamic banking disputes through litigation and proposes arbitration as an alternative method for establishing a legal framework for dispute resolution in countries where Islamic banking is implemented.

中文翻译:

解决伊斯兰银行纠纷的诉讼或仲裁

当投资者决定与伊斯兰银行打交道时,他们的主要关注点之一是确保他们的业务在发生纠纷时受到保护。因此,制定解决争端的良好法律框架对于加强伊斯兰银行在全球金融市场中的地位至关重要。然而,伊斯兰金融产品和交易的独特性要求不应通过传统的法律和法院(诉讼)来处理该领域产生的争议。可以说,现行的伊斯兰银行金融纠纷通过诉讼解决、判决不平衡的做法与伊斯兰银行金融的做法是适得其反的。
更新日期:2018-11-09
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