Using arbitration as a means of resolving Islamic finance disputes is gaining popularity in the Middle East, as well as in other Muslim States in South-East Asia and Africa. This is evident in the number of studies and articles that have been presented on this subject by Islamic finance experts and the legal community at large. Major arbitration institutions in the region are also positioning themselves to cater to this industry’s growing demand for dispute resolutions because many of these disputes tend to be of high profile and value. While the industry historically has preferred litigation over adjudication, and non-Islamic venues and laws to govern the subject of the disputes, there have been calls by legal and financial experts to refer more disputes to ADR methods, particularly arbitration, and provide custom arbitration clauses, procedures and practices more in line with Shari’a Law. This is similar to what has been established for arbitration of other industries such as Intellectual Property, Construction and Sports, and many others.
Cite as: 20 Annl. Survey Int'l. Comp. L. 35 (2014).
Maita, Dr. Aida
"Arbitration of Islamic Financial Disputes,"
Annual Survey of International & Comparative Law: Vol. 20
, Article 7.
Available at: http://digitalcommons.law.ggu.edu/annlsurvey/vol20/iss1/7