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In the realm of Islamic finance, navigating emerging issues in dispute resolution is crucial for maintaining integrity and trust within the industry. Ensuring end-to-end Sharī‘ah compliance in dispute management is paramount, as it upholds the ethical principles of Islamic finance. Dispute resolution intersects intricately with Islamic finance law, demanding a deep understanding of both legal and religious frameworks to address conflicts effectively. Choice of law and jurisdictional issues add complexity, particularly in cross-border transactions, where harmonizing diverse legal systems becomes imperative. Islamic finance litigation across borders presents unique challenges, requiring nuanced approaches to reconcile conflicting laws and cultures. To address these complexities, Islamic finance arbitration plays a pivotal role, necessitating investment in human capital development to cultivate expertise in this specialized field. Standards set by organizations like AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) provide essential guidelines, while specified arbitration rules tailor dispute resolution mechanisms to the unique dynamics of Islamic finance disputes. In navigating these emerging issues, stakeholders must collaborate to foster a robust and transparent ecosystem that upholds the principles of Islamic finance while effectively resolving disputes.
Secretary-General
AlBaraka Forum for Islamic Economy
Former Chief Executive Officer
International Islamic Liquidity Management Corporation, Malaysia
Director
Centre of Islamic and Middle Eastern Law (CIMEL), SOAS University of London
Business Development Manager
AlBaraka Forum for Islamic Economy
Professor of law at the University of Paris II
Avocat before the Court of Appeal of Paris, France
Founding Partner & Head of International Arbitration, Construction and Energy
Zulficar & Partners, Egypt
Partner
White & Case
Advocate of the Supreme Court of Pakistan
Senior Managing Partner of the firm and the head of its dispute resolution practice at ABS & Co, Islamabad, Pakistan
Updated at: 2/11/2023