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2. PHD Thesis / Tesis PHD
3. Faculty of Law / Fakulti Undang-undang

Title:	Islamic banking operational challenges in the legal practice of the central banks: Saudi Arabia vs. Malaysia
Authors:	Saud Bandar M. Duwaish (P46587)
Supervisor:	Rohimi Shapiee, Prof. Dr.
Keywords:	Banks and banking -- Religious aspects -- Islam Universiti Kebangsaan Malaysia -- Dissertations Dissertations, Academic -- Malaysia
Issue Date:	20-Apr-2017
Description:	This research was undertaken to critically discuss the operational challenges in the legal regulatory framework for Islamic banking industry with respect of the practice of the Central Banks of Malaysia and Saudi Arabia. It has critically discussed the legal challenges facing Islamic banks and the necessity for Shari'ah regulatory framework for Islamic banking business in Saudi Arabia with special reference to the Shari'ah regulatory framework of Malaysia. It has analysed and critically evaluated several Shari'ah products or instruments as are commonly implemented by Islamic banks and legal operational challenges which include risk-management, enforcement mechanism, Shari'ah compliant and Shari'ah corporate governance. It has also critically examined some judicial precedents of the Court in Malaysia regarding applicability and implementation of BBA contracts, the functions and the role of Shari'ah Advisory Council (SAC) in Malaysia in respect of its statutory duty to interpret and ascertain what constitutes Shari'ah compliant or Shari'ah products as approved by the religion of Islam. This study has also critically discussed the importance of codifying or standardizing the Shari'ah rulings or Fatwas relating to Islamic banking. This study has also critically analysed the Shari'ah precepts governing the profit and loss sharing mechanism and how they determine profitability of physical and liquidity investments under the Islamic banks in contrast to conventional banks in Saudi Arabia and Malaysia. A critical analysis has been made regarding the extent to which Islamic banking and financial institutions in Malaysia and Saudi Arabia implement the AAOIFI accounting and auditing Shari'ah guidelines. This study has critically discussed the conflict of jurisdiction between civil courts and Shari'ah Court in Malaysia and the role which the Kuala Lumpur Regional Centre for Arbitration (KLRCA) plays in arbitrating on disputes from Islamic banks. Finally, this study has also discussed the conceptual framework model of Islamic Central Bank (ICB), its necessity in enhancing the stability of Islamic banks and in promoting the religion of Islam as well as several types of Shari'ah regulatory frameworks and Shari'ah governance implemented in different jurisdictions.,Ph.D.
Pages:	259
Call Number:	C63.SAU 2017 2 tesis
Publisher:	UKM, Bangi
Appears in Collections:	Faculty of Law / Fakulti Undang-undang

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