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Resolution of Islamic banking disputes by way of arbitration in Sri Lanka

Islamic banking is a new, rapidly growing business, which is competing with its counterpart in Sri Lanka.As in any other area of business, emergence of disputes arising among stakeholders of Islamic banking is quite natural.However, the ability to resolve such disputes without destroying the busines...

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Main Authors: Nafees, Seeni Mohamed, Ayub, Zainal Amin
Format: Article
Published: Brill 2016
Subjects:
HG Finance
K Law (General)
Online Access:http://repo.uum.edu.my/22079/
http://doi.org/10.1163/15730255-12341329
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spelling my.uum.repo.220792017-05-29T06:23:20Z http://repo.uum.edu.my/22079/ Resolution of Islamic banking disputes by way of arbitration in Sri Lanka Nafees, Seeni Mohamed Ayub, Zainal Amin HG Finance K Law (General) Islamic banking is a new, rapidly growing business, which is competing with its counterpart in Sri Lanka.As in any other area of business, emergence of disputes arising among stakeholders of Islamic banking is quite natural.However, the ability to resolve such disputes without destroying the business relationship is quite important.Many disadvantages inherent in the process of litigation may prompt those involved to seek an alternative way of dispute resolution (ADR), offering less formality, lower costs and protection of privacy.Hence, in this respect, ADR could be proposed as an ideal mechanism.This article strives to examine the possibility to apply arbitration for Islamic banking dispute resolution in Sri Lanka. Sri Lanka’s Arbitration Act No. 11 of 1995 may play a significant role in this sense. Brill 2016 Article PeerReviewed Nafees, Seeni Mohamed and Ayub, Zainal Amin (2016) Resolution of Islamic banking disputes by way of arbitration in Sri Lanka. Arab Law Quarterly, 30 (4). pp. 305-335. ISSN 0268-0556 http://doi.org/10.1163/15730255-12341329 doi:10.1163/15730255-12341329
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
topic HG Finance
K Law (General)
spellingShingle HG Finance
K Law (General)
Nafees, Seeni Mohamed
Ayub, Zainal Amin
Resolution of Islamic banking disputes by way of arbitration in Sri Lanka
description Islamic banking is a new, rapidly growing business, which is competing with its counterpart in Sri Lanka.As in any other area of business, emergence of disputes arising among stakeholders of Islamic banking is quite natural.However, the ability to resolve such disputes without destroying the business relationship is quite important.Many disadvantages inherent in the process of litigation may prompt those involved to seek an alternative way of dispute resolution (ADR), offering less formality, lower costs and protection of privacy.Hence, in this respect, ADR could be proposed as an ideal mechanism.This article strives to examine the possibility to apply arbitration for Islamic banking dispute resolution in Sri Lanka. Sri Lanka’s Arbitration Act No. 11 of 1995 may play a significant role in this sense.
format Article
author Nafees, Seeni Mohamed
Ayub, Zainal Amin
author_facet Nafees, Seeni Mohamed
Ayub, Zainal Amin
author_sort Nafees, Seeni Mohamed
title Resolution of Islamic banking disputes by way of arbitration in Sri Lanka
title_short Resolution of Islamic banking disputes by way of arbitration in Sri Lanka
title_full Resolution of Islamic banking disputes by way of arbitration in Sri Lanka
title_fullStr Resolution of Islamic banking disputes by way of arbitration in Sri Lanka
title_full_unstemmed Resolution of Islamic banking disputes by way of arbitration in Sri Lanka
title_sort resolution of islamic banking disputes by way of arbitration in sri lanka
publisher Brill
publishDate 2016
url http://repo.uum.edu.my/22079/
http://doi.org/10.1163/15730255-12341329
_version_ 1644283418262896640
score 13.160551

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