Sukuk default regulation in Malaysia and United Arab Emirates : comparative analysis
Other Title(s)
قانون تقصير الصكوك في ماليزيا و الإمارات العربية المتحدة : تحليل مقارن
Joint Authors
Akhtarzaiti, Abd al-Aziz
Zakariyya, Luqman Nil
al-Basri, Said Abd Allah
Source
International Journal of Fiqh and Usul Al-fiqh Studies
Issue
Vol. 3, Issue 1 (30 Jun. 2019), pp.90-102, 13 p.
Publisher
Publication Date
2019-06-30
Country of Publication
Malaysia
No. of Pages
13
Main Subjects
Abstract EN
The nascent Islamic finance industry is still facing the challenges of uncertainties in legal regimes, Sharī’ah interpretations, the right of investors, and remedies in default circumstances.
The event of Sukūk default is one of the significant challenges faced by the Islamic capital market.
The recent Dana Gas Sukūk default triggered by Sharī’ah compliance interpretations has shown the extent of danger that moral hazards could cause to the entire Islamic finance space.
Scholars have argued that the Sharī’ah-compliant arguments witnessed in the industry were because of the nature of the capital market framework of any particular jurisdiction and were not significantly Sharī’ah issues.
This study aims to carry out a brief comparative analysis of the default cases in Malaysia and the United Arab Emirates (UAE).
The study compares the legal jurisdiction and regulatory framework in summary-background of the judges and court decision samples based on these structures and how they have influenced Sukuk default regulations in the jurisdiction.
This study employs a comparative analysis by considering fundamental elements in the regulatory framework.
American Psychological Association (APA)
al-Basri, Said Abd Allah& Zakariyya, Luqman Nil& Akhtarzaiti, Abd al-Aziz. 2019. Sukuk default regulation in Malaysia and United Arab Emirates : comparative analysis. International Journal of Fiqh and Usul Al-fiqh Studies،Vol. 3, no. 1, pp.90-102.
https://search.emarefa.net/detail/BIM-908110
Modern Language Association (MLA)
al-Basri, Said Abd Allah…[et al.]. Sukuk default regulation in Malaysia and United Arab Emirates : comparative analysis. International Journal of Fiqh and Usul Al-fiqh Studies Vol. 3, no. 1 (Jun. 2019), pp.90-102.
https://search.emarefa.net/detail/BIM-908110
American Medical Association (AMA)
al-Basri, Said Abd Allah& Zakariyya, Luqman Nil& Akhtarzaiti, Abd al-Aziz. Sukuk default regulation in Malaysia and United Arab Emirates : comparative analysis. International Journal of Fiqh and Usul Al-fiqh Studies. 2019. Vol. 3, no. 1, pp.90-102.
https://search.emarefa.net/detail/BIM-908110
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 100-102
Record ID
BIM-908110