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Dispute Resolution In Islamic Finance: A Comprehensive Guide

Ed Cooper

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Published in Dispute Resolution In Islamic Finance: Alternatives To Litigation? (Routledge Islamic Studies Series)

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Islamic finance is a rapidly growing industry, and with its growth comes the need for effective dispute resolution mechanisms. The unique nature of Islamic finance transactions means that traditional dispute resolution methods may not be appropriate. This book provides a comprehensive guide to the Islamic finance industry's unique dispute resolution mechanisms.

The Islamic finance industry is based on the principles of Islamic law. Islamic law is a comprehensive legal system that governs all aspects of life, including business and finance. Islamic finance transactions must comply with the principles of Islamic law, which include the prohibition of interest, the requirement for risk-sharing, and the promotion of social justice.

There are a number of different dispute resolution methods available in the Islamic finance industry. These methods include:

Dispute Resolution in Islamic Finance: Alternatives to Litigation? (Routledge Islamic Studies Series)

by Kathy Lien

4.1 out of 5

Language	:	English
File size	:	1179 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	209 pages

Arbitration is a form of alternative dispute resolution in which the parties to a dispute agree to submit their dispute to a neutral third party for a binding decision. Arbitration is a popular method of dispute resolution in the Islamic finance industry because it is relatively quick and inexpensive.
Mediation is a form of alternative dispute resolution in which the parties to a dispute agree to meet with a neutral third party to help them reach a mutually acceptable solution. Mediation is a less formal process than arbitration and can be more effective in resolving disputes that involve complex or sensitive issues.
Expert determination is a form of alternative dispute resolution in which the parties to a dispute agree to submit their dispute to a neutral third party for a non-binding decision. Expert determination is often used in disputes that involve technical or complex issues.

Islamic law plays an important role in dispute resolution in the Islamic finance industry. Islamic law provides the principles that govern the conduct of Islamic finance transactions and the resolution of disputes that arise from those transactions. Islamic law also provides a framework for the development of dispute resolution mechanisms that are consistent with the principles of Islamic law.

This book provides practical guidance on how to resolve disputes in an Islamic finance context. The book covers a wide range of topics, including:

The different dispute resolution methods available in the Islamic finance industry
The role of Islamic law in dispute resolution
How to choose the right dispute resolution method for your dispute
How to prepare for and participate in dispute resolution proceedings
How to enforce a dispute resolution decision

Dispute Resolution In Islamic Finance is a comprehensive guide to the Islamic finance industry's unique dispute resolution mechanisms. This book provides a detailed overview of the various dispute resolution methods available, including arbitration, mediation, and expert determination. It also discusses the role of Islamic law in dispute resolution and provides practical guidance on how to resolve disputes in an Islamic finance context.

Dispute Resolution in Islamic Finance: Alternatives to Litigation? (Routledge Islamic Studies Series)

by Kathy Lien

4.1 out of 5