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Legal obstacles facing Islamic banking in Malaysia

Hassan, Rusni and Muneeza, Aishath and Azzam Wajeeh, Ismail (2011) Legal obstacles facing Islamic banking in Malaysia. World Journal of Social Sciences, 1 (5). pp. 126-131. ISSN 1839-1184

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Abstract

Islamic banking is a concept which has proven itself to the world. Malaysia is considered as the cranium of Islamic banking and the rest of the world take lessons from Malaysia. The reason for this maybe because Malaysia is the first nation in the world to develop a sophisticated and a systematic legal infrastructure to welcome, develop and sustain Islamic banking parallel to the conventional banking in the country. The systematic and the dual banking approach adopted by Malaysia did gain the attention of the whole world. More than two and a half decades later, the question that still persists is what needs to be done for the sustainable development of Islamic banking in Malaysia? It is observed that without eliminating the legal obstacles facing Islamic banking in Malaysia, it would be impossible to sustain Islamic banking in the country. The main focus of the paper is to find out the legal obstacles facing Islamic banking in Malaysia.

Item Type: Article (Journal)
Additional Information: 1525/15227
Uncontrolled Keywords: Islamic banking, Malaysia, legal obstacles
Subjects: H Social Sciences > HG Finance > HG1501 Banking
K Law > KPG Malaysia
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Ahmad Ibrahim Kulliyyah of Laws > Department of Islamic Law
Depositing User: Dr Rusni Hassan
Date Deposited: 10 Jan 2012 08:41
Last Modified: 08 Mar 2016 10:51
URI: http://irep.iium.edu.my/id/eprint/15227

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