New Dispute Resolution Approach and Models for Islamic Finance

In: Arab Law Quarterly
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  • 1 Assistant Professor, University of Tsukuba, Faculty of Business Sciences, Tokyo, Japan

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Abstract

This article aims to clarify two pioneering models for Islamic financial dispute resolution, which have been developed in the United Arab Emirates (UAE) and in Malaysia. The models have emerged from different political economic backgrounds and legal histories. In addition, this article discusses issues regarding alternative dispute resolution (ADR) systems for Islamic finance in the UAE and in Malaysia and will also feature diversification of the Islamic financial market through the dispute resolution system.