AN EXPLORATION OF DISPUTE RESOLUTION MECHANISMS IN ISLAMIC COMMERCIAL TRANSACTION
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Date
2021-06
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Department of Islamic Law, Faculty of Law, Al-Hikmah University
Abstract
There is a recent boost to Islamic Commercial law in Nigeria most especially with the sophistication experienced in its emerging Islamic finance industry, with regards to Islamic banking and Islamic capital market, Sukuk. There is however a looming challenge on the industry in terms of its dispute resolution mechanism. This is because there seems to be an over-dependence on common law institutions, no thanks to the Nigerian colonial heritage, in issues involving Islamic law in general and Islamic commercial law in particular. The aim of this study is therefore to explore the various Islamic Dispute Resolution mechanisms that could be used in resolving Islamic commercial law disputes. This study adopts a doctrinal legal method in exploring the relevant Islamic dispute resolution mechanisms that are unique to Islamic law in general and Islamic commercial law in particular. Finally, the research proposes for the adoption of Islamic Dispute Resolution mechanisms in resolving Islamic Commercial law disputes. The findings of this research reveal that there are indeed dispute resolution mechanisms in Islamic law that are suitable for solving numerous disputes emanating from our ever-innovative Islamic commercial law especially when we take into consideration its uniqueness vis-à-vis Fiqh Muamalat and Shari’ah.
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(1) Aishat Abdul-Qadir Zubair, (2021) An Exploration of the Dispute Resolution Mechanisms in Islamic Commercial Transaction Al-Hikmah University Journal of Islamic Law (HUJIL) 5th Edition Vol. 4&5 pp.109-137, Published by Department of Islamic Law, Faculty of Law, Al-Hikmah University, Ilorin, Kwara State, Nigeria.