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Interest and Banks in Saudi Arabia: A Dilemma
Arab Law Quarterly ( IF 0.5 ) Pub Date : 2020-10-22 , DOI: 10.1163/15730255-bja10058
Saleh Abdulrahman Alamer 1
Affiliation  

The banking system in Saudi Arabia faces legal issues with Sharīʿah compliance. Despite the fact that Islamic law is the main drive of the country’s legal system, Islamic banking is not well supported in the banking regulations and it may encounter legal obstacles in applying some Islamic financial mechanisms. On the other hand, conventional banking is not free of legal hurdles as it is challenged by the Islamic judiciary system in the country where interest-based loans are not enforced. These cases create a dilemma where the banking system in the country has to take a clearer legal position toward interest and Islamic banking.



中文翻译:

沙特阿拉伯的利息和银行:进退两难

沙特阿拉伯的银行系统面临着遵守伊斯兰教法的法律问题。尽管伊斯兰法是该国法律体系的主要驱动力,但银行法规并未很好地支持伊斯兰银行业,并且在应用某些伊斯兰金融机制时可能会遇到法律障碍。另一方面,传统银行业务并非没有法律障碍,因为它受到该国不执行基于利息的贷款的伊斯兰司法系统的挑战。这些案件造成了两难境地,该国的银行系统必须对利息和伊斯兰银行业务采取更明确的法律立场。

更新日期:2020-10-22
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