Legal and regulatory issues in Islamic banking: a Sri Lankan experience

Nafees, Seeni Mohamed and Ahmad, Muhamad Hassan and Masum, Ahmad and Md Nor, Mohd Zakhiri (2018) Legal and regulatory issues in Islamic banking: a Sri Lankan experience. Journal of Islamic Law Review, 14 (2 (Jan-June)). pp. 379-397. ISSN 0973-2918

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Abstract

At the heart of every robust economy is a sound banking system which is ensured when an improved and standard legal system is in place. Sri Lanka is one of the non-Muslim countries that have legislation conducive to some extent for the operation of the Islamic banking. However, there are a number of hurdles for the development of Islamic banking. Therefore, this paper strives to examine selected legal and regulatory issues in Sri Lanka where Islamic banking is operated since 1997. The study found that although Islamic banking is successfully carried out to a certain extent, there are many identifiable legal and regulatory issues that have to be addressed in due course so as to push the industry to go forward more successfully and rapidly.

Item Type:	Article (Journal)
Additional Information:	8116/68400
Uncontrolled Keywords:	Islamic Banking, Law, Tax, Shari’ah Consistency, Money Laundering
Subjects:	K Law > K Law (General) K Law > KBP Islamic Law K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law Ahmad Ibrahim Kulliyyah of Laws
Depositing User:	Dr. Muhamad Hassan Ahmad
Date Deposited:	24 Dec 2018 14:47
Last Modified:	24 Dec 2018 14:47
URI:	http://irep.iium.edu.my/id/eprint/68400

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