Islamic Law and International Commercial Arbitration [electronic resource].
- Milton : Routledge, 2018.
- 1 online resource (303 p.).
- Islamic Law in Context Ser. .
Description based upon print version of record.
Cover; Half Title; Title; Copyright; Dedication; Contents; Arabic translation, transliteration and dates; Glossary of basic Arabic terms; 1 Introduction; 2 The theoretical and practical framework for Shari?a arbitration; 3 Conflict of laws and Shari?a as choice of law; 4 Composition of the arbitral tribunal; 5 Evidence and procedure in Shari?a arbitration; 6 The impact of riba and gharar on arbitrability and arbitration agreements; 7 Interest on arbitral awards and the prohibition against riba; 8 Shari?a public policy and the recognition and enforcement of arbitral awards 9 Reform proposals, further research and conclusionBibliography; Index
This book examines the intersection between contemporary International Commercial Arbitration and Shari?a law in order to determine possible tensions that may arise between the two systems. It develops evidentiary and procedural rules under Shari?a, as well as examining the consequences of stipulating qualifications of arbitrators based on gender and/or religion. The author extensively analyses the prohibition against interest (riba) and uncertainty (gharar) under Shari?a and its impact on arbitration agreements, arbitral awards and public policy. The book also explores the prohibition against riba in light of international conventions, such as the United Nations Convention on Contracts for the International Sale of Goods. Case studies in the book include the Asian International Arbitration Centre, formerly the Kuala Lumpur Regional Centre for Arbitration, and the International Islamic Centre for Reconciliation and Arbitration, as well as the 'Shari'a Standards' developed by the Accounting and Auditing Organization for Islamic Financial Institutions. The book will be a valuable resource for academics, students and practitioners working in the areas of Islamic law and the Islamic finance industry.