Alternative dispute resolution in Islamic finance: What’s next? / Rafidah Mohd Azli... [et al.]

Mohd Azli, Rafidah and Pauzi, Nasif Sidque and Ubaidah, Ahmad Faiz and Sharif, Dziauddin and Yakob, Mohd Asmadi and Jamil, Hajah MakiahTussaripah (2019) Alternative dispute resolution in Islamic finance: What’s next? / Rafidah Mohd Azli... [et al.]. Journal of Academia, 7 (1). pp. 1-9. ISSN 2289-6368

Abstract

In Islamic transaction, the disputations between two or more parties could affect the roles and responsibilities. Furthermore, when the court received a case from disputed parties, there will be a perception among each of parties of win-lose situation, whereby one party embellished with satisfaction, while the other party will beat in suffering, so the impact is the relationship between two parties are become farther. Therefore, alternative dispute resolution (ADR) in Islamic Finance is suggested in by many Muslim economist and legal experts as a substitute to any further legal activities. This is because it will satisfy many of litigants and it provides a complementary substitute to litigation. The study about ADR in Islamic finance has been done by previous literature. By the way, the implementation of ADR in Islamic financial institutions still needs to be elaborated. Therefore, this paper aims to discuss about updated issues and challenges of implementations of ADR in Islamic finance. This paper found that the ADR in Islamic finance need a model to make the ADR more flexible and eligible with different kinds of conflicts.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Mohd Azli, Rafidah
UNSPECIFIED
Pauzi, Nasif Sidque
UNSPECIFIED
Ubaidah, Ahmad Faiz
UNSPECIFIED
Sharif, Dziauddin
UNSPECIFIED
Yakob, Mohd Asmadi
UNSPECIFIED
Jamil, Hajah MakiahTussaripah
UNSPECIFIED
Subjects: H Social Sciences > HG Finance > General works. Financial institutions
H Social Sciences > HJ Public Finance > Finance, Islamic
Divisions: Universiti Teknologi MARA, Negeri Sembilan > Kuala Pilah Campus
Journal or Publication Title: Journal of Academia
UiTM Journal Collections: UiTM Journal > Journal of Academia (JoA)
ISSN: 2289-6368
Volume: 7
Number: 1
Page Range: pp. 1-9
Keywords: Alternative, dispute, resolution, Islamic finance.
Date: 2019
URI: https://ir.uitm.edu.my/id/eprint/31175
Edit Item
Edit Item

Download

[thumbnail of 31175.pdf] Text
31175.pdf

Download (316kB)

ID Number

31175

Indexing

Statistic

Statistic details