Browsing by Author "Oseni, Umar A."

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    Dispute Resolution in the Islamic Finance Industry in Malaysia: Some Legal Conundrums.
    (2014) Zubair, Aishat Abdul-Qadir; Oseni, Umar A.
    The main purpose of this paper is to explore the state of dispute resolution in the Islamic finance industry in Malaysia as well as expose the legal issues surrounding the effective resolution of Islamic finance disputes in Malaysia. The exploratory study involved several case analyses and judicial pronouncement of some landmark cases during the four decades that Islamic finance has been operating in Malaysia. A content legal analysis of the two most important primary sources-case law and legislation- were used to examine the current state of dispute resolution in the Islamic finance industry in Malaysia. The main findings of the study indicated that the Islamic finance industry which is renowned for its product quality is now also known for the many confrontations, claims, disputes and litigations that permeate the industry. The study also revealed that despite the trends showing changes in the dispute resolution sector of the Islamic finance industry in terms of legal framework reforms, the current jurisdiction over Islamic finance matters that rest with the civil courts and its consequential issues have not helped the industry, the challenge of adequate access to justice still lingers on. Implications of, and limitations to the study are also discussed.