An overview of the lecture on “Legal and Shariah Framework of Contemporary Islamic Finance and Disputes Resolution Mechanisms”

An overview of the lecture on “Legal and Shariah Framework of Contemporary Islamic Finance and Disputes Resolution Mechanisms”

• Date: 15 September 2022
• Time: 12Noon (Kuwait time)
• Speaker: Assoc. Prof. Dr. Mohd Zakhiri Md Nor, School of Law (SOL), Universiti Utara Malaysia (UUM)
• Organizer: Islamic Econmics Association, Faculty of Shariah and Islamic Studies, Kuwait University
• Web: https://blog.souqwp.xyz

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Introduction:

Islamic Economics Association at the Faculty of Shariah and Islamic Studies, Kuwait University is continuously constructing various types of events and lectures to promote Islamic Finance framework, strategies and standards. In regard to that the lecture on “Legal and Shariah Framework of Contemporary Islamic Finance and Disputes Resolution Mechanisms” was held on 15 September 2022. Dr. Mohammad Mohiuddin, the Moderator of the session started the session and briefly introduced the Association and the speaker to all participants. The speaker Prof. Dr. Mohd Zakhiri addressed the background of the topic of the lecture at the beginning and mentioned the content of the lecture. Then the lecturer discussed the topic in detail.

Keywords: Islamic Finance. Legal. Shariah. Contemporary. Mechanism..

Objectives:

The objectives of the lecture are:

1. Assisting the researchers, professionals and students to understand contemporary Islamic finance
2. Introducing the differences of bank-client relationship
3. Helping the attendees to understand regulator framework of banks
4. Addressing the Malaysian Islamic finance and regulatory system
5. Explaining references of resolve Islamic finance disputes to Shariah Advisory Council

Discussions:

Assoc. Prof. Dr. Mohd Zakhiri Md Nor discussed the topic excellently and he highlighted the following contents in the discussion:

1. An overview of Islamic finance

2. Contemporary Islamic finance

3. The differences of Bank-Client relationship

4. International Regulator Framework of Banks

5. Islamic finance and regulator in Malaysia

6. Islamic finance dispute resolution in Malaysia

7. Civil litigation to solve Islamic finance disputes

8. References to Shariah Advisory Council

9. Alternative dispute to resolve dispute mechanism

Link:

https://www.youtube.com/watch?v=hqLPb1X-vp0

May Allah accept all our good deeds and services.

Prepared by:

Dr. Mohammad Mohiuddin

Moderator of the session and

Coordinator of Islamic Economics Association (English Programs)