The legal implications of 'Fatwā Shopping' in the Islamic finance industry: Problems, perceptions and prospects

• Main Authors: Oseni, Umar Aimhanosi, Ahmad, Abu Umar Faruq, Hassan, Mohammad Kabir
• Format: Article
• Language: English; English; English
• Published: Brill Academic Publishers 2016
• Subjects: KBP Islamic Law
• Online Access: http://irep.iium.edu.my/56587/1/56587_The%20legal%20implications%20of%20%27Fatw%C4%81%20Shopping%27%20in%20the%20Islamic%20finance%20industry.pdf; http://irep.iium.edu.my/56587/2/56587_The%20legal%20implications%20of%20%27Fatw%C4%81%20Shopping%27%20in%20the%20Islamic%20finance%20industry_Scopus.pdf; http://irep.iium.edu.my/56587/3/56587_The%20legal%20implications%20of%20%27Fatw%C4%81%20Shopping%27%20in%20the%20Islamic%20finance%20industry_WoS.pdf; http://irep.iium.edu.my/56587/; http://booksandjournals.brillonline.com/content/journals/10.1163/15730255-12341319

This article examines the occurrence and legal implications of ‘fatwā shopping’ in the Islamic finance industry and the need to put the proper legal mechanisms in place to regulate the phenomenon. It provides a case study of the existing legal restrictions in some jurisdictions with a centralised Sh...