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Legal aspect of Islamic Banking: a case study of Bahrain

Nafees, S.M. Mohamed and Ahmad, Muhamad Hassan and Masum, Ahmad and Md Dahlan, Nuarrual Hilal (2018) Legal aspect of Islamic Banking: a case study of Bahrain. Journal of Islamic Law Review, 14 (1). pp. 109-129. ISSN 0973 2918

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Kingdom of Bahrain is considered one of the leading countries in the Middle East where Islamic banking is growing enormously adopting various legal changes necessary to provide a level playing field to the Islamic banking industry. In order to pave the road to smooth running of the industry, innovative and legislative arrangements are introduced from time to time. Notably, the government of Bahrain strives to set it as an international hub for Islamic banking. As such, the Bahrain may be considered as an ideal model for countries, which are involved in developing Islamic banking in their respective countries. Eventually, the study finds that Bahrain has introduced various legal changes as well as mandated the adherence to Shari‘ah Standards of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for smooth running of Islamic banking industry which can be adoptable by other jurisdictions.

Item Type: Article
Uncontrolled Keywords: Islamic Banking, Growth of Islamic Banking, Bahrain, Islamic Finance
Subjects: K Law > KZ Law of Nations
Divisions: School of Law
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 04 Mar 2019 00:58
Last Modified: 04 Mar 2019 00:58
URI: http://repo.uum.edu.my/id/eprint/25708

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