ARBITRATION AND MEDIATION METHOD APPLIED TO ISLAMIC FINANCE CONFLICTS IN MALAYSIA
DOI:
https://doi.org/10.24297/jssr.v6i3.4329Keywords:
Arbitration, Mediation, Sharia Advisory Council, Multi-ethnicity, Justice, Malaysia.Abstract
Malaysia has already known as an Islamic country. In a country of multi-ethnicity, multi-religion and multi-cultural societies, demands a concept of justice and equality that is different from other countries, particularly the ones with homogenous societies. The highest law of the land places Islam, the religion associated with one of the main ethnicity, as the official religion of the nation and allowed the duality of economic system, in particular banking system, whereby conventional banking system exists side-by-side with the Sharia-compliant, Islamic banking. By reviewing the pertinent literature on the development of Islamic banking, the reviewed cases on Islamic banking and its contributions to Malaysian society regardless of ethnicity and religion. The discussion in this paper therefore will be directed towards highlighting the laws and mechanisms of solution on Islamic banking and its implication to enhance the application of Islamic banking laws to consumers regardless of ethnicity and religion, in order to maintaining fairness and justice in a multi-ethnic societyDownloads
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References
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[16] The 14th Malaysian Law Conference held in the Kuala Lumpur Convention Centre (30 October 2007), Opportunities And Challenges In Islamic Commercial Law.
[17] Malaysian Federal Constitution
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[21] Malaysian Administration of Islamic Law (Federal Territories) Act 1993
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[23] Affin Bank v Zulkifli Abdullah, (2006) 3 MLJ 67
[24] Arab Malaysian Finance Bhd v Taman Ihsan Jaya Sdn Bhd & Ors (Koperasi Seri Kota Bukit Cheraka Bhd, 3rd Party), (2008) 5 MLJ 631
[25] Arab Malaysian Merchant Bank Bhd v Silver Concept Sdn Bhd (2010) 3 MLJ 702,
[26] Bank Islam Malaysia Berhad v Adnan Omar (1994) 3 CLJ 735
[27] Bank Islam Malaysia Berhad v Pasaraya Peladang Sdn. Bhd. (2004) 7 MLJ 355
[28] Bank Islam Malaysia Bhd v Azhar Bin Osman & Other Cases, (2010) 9 MLJ 192
[29] Bank Islam Malaysia Bhd v Lim Kok Hoe & Anor, (2009) 6 MLJ 839
[30] Bank Islam Msia Berhad v Mustaffar @ Mustaffa Bin Yacob & Anor, (2012) MLJU 668
[31] Bank Kerjasama Rakyat Malaysia Bhd v Psc Naval Dockyard Sdn Bhd, (2008) 1 CLJ
[32] Bank Kerjasama Rakyat Malaysia Bhd v Sea Oil Mill Sdn Bhd (2010) 2 MLJ 740,
[33] Bank Kerjasama Rakyat Msia v Emcee Corps Sdn Bhd, (2003) 1 CLJ 625
[34] Bank Muamalat Malaysia Berhad v Suhaimi Bin Md Hashim,
[35] Bank Muamalat Malaysia Bhd v Kong Sun Enterprise Sdn Bhd & yang lain (2012) 6 CLJ,[36] Che Omar bin Che Soh v Public Prosecutor (1988) 2 MLJ 55 (SC) at p 56
[37] CIMB Islamic Bank Bhd v LCL Corp Bhd & Anor (2012) 3 MLJ 869
[38] Dato Hj. Nik Mahmud Daud v BIMB (1998) 3 CLJ 605
[39] Dato‟ Kahar Shah bin Tun Sulaiman v datin Fauziah binti haron (2008) 7 MLJ 779(HC) at p 785 per Mohd Hishamudin J.
[40] Kamariah Bt Ali Dan Lain-Lain Lwn Kerajaan Negeri Kelantan, Malaysia Dan Satu Lagi (2002) 3 MLJ 657; (2002) 3 CLJ 766
[41] Kopeks Holdings Sdn Bhd V Bank Islam Malaysia Bhd, (2012) 4 MLJ 337
[42] Latifah Bte Mat Zin v Rosmawati Binti Sharibun, (2007) 5 MLJ 101
[43] Light Style Sdn Bhd v Kfh Ijarah House (M) Sdn Bhd, (2009) 4 MLJ 575
[44] Malayan Banking Bhd v Marilyn Ho Siok Lin, (2006) 7 MLJ 249
[45] Malayan Banking Bhd v Ya'kup Oje & Anor, (2007) 6 MLJ 389
[46] Mohd Alias bin Ibrahim v RHB Bank Bhd & Anor (2011) 3 MLJ 26
[47] Sukma Dermawan Sasmitaat Madja v Ketua Pengarah Penjara Malaysia & Anor (1999) 1 MLJ 286, (1999) 1 CLJ 481
[48] Tahan Steel Corp Sdn Bhd v Bimb, (2004) 6 CLJ 25
[49] Tan Sri Abdul Khalid Bin Ibrahim V Bank Islam Malaysia Bhd, (2012) 7 MLJ 597
[50] Tengku Mariam Bt Tengku Sri Wa Raja & Anor v Commissioner Of Religious Affair Terengganu, (1969) 1 MLJ 110 HC
[51] Tinta Press v Bank Islam Malaysia Berhad, (1987) 2 MLJ 192
[2] Markom, Ruzian. Pitchay, Sharina Ali. Zainol, Zinatul Ashiqin. Abdul Rahim, Anita. Abdul Rahim Merican, Rooshida Merican. 2012. Adjudication of Islamic Banking and Financial Laws in the Civil Courts of Malaysia. European Journal Law and Economics. Springer.
[3] Obaidullah, M. 2005. Islamic Financial Services, Islamic Economics Research Center. King Abdul Aziz University. Jeddah.
[4] Pound, Roscoe. 1912. Social justice and legal justice, Mo. Bar Ass‟n Proc. (1912), 110, 112; Reginald Heber Smith, Justice and the Poor (new York, 1919), 15.
[5] Pound, Roscoe. 1917. The limits of effective legal action, 3 American Bar Ass‟n J. (Jan 1917), 55-57; Pound. 1922. An introduction to the philosophy of law (new haven, 1922), 54
[6] Shariff, Mohamed Ismail. 1998. The Development of Islamic Banking Law in Malaysia. (1998) 1 MLJ cxiv
[7] Syed Khalid Rashid. 2002. Factors Behind the Emergence of ADR in the World and ADR in Malaysia [2002] 1 LM at p 70.
[8] Yilmaz, Ihsan. 2001. Law As Chameleon: The Question Of Incorporation Of Muslim Personel Law Into The English Law. Journal Of Muslim Minority Affairs. Vol. 21. No. 2.
[9] Yong Yung Choy. 2001. Alternative Dispute Resolution (Mediation) in Malaysia (December 2001), Insaf, 103 at p 107
[10] A.G. Guest. 1979. Anson‟s Law of Contract. Edisi 24, London: E.L.B.S. & Oxford University Press.
[11] Mejelle. A Complete Code of Islamic Civil Law. Kuala Lumpur. The Other Press.
[12] Thani, Nik Norzrul. Abdullah, Mohamed Ridza. Hassan, Megat Hizaini. 2010. Law and Practice of Islamic Banking and Finance. 2nd Ed. Sweet & Maxwell Asia.
[13] Khutubul Zaman bin Bukhari. 2003. Arbitration and Mediation in ASEAN: the Law & Practice, in the 8th General Assembly 2003 at p 5 available at http://www.aseanlawassociation.org/ speechspubspub-malaysia.html
[14] Surianom Miskam, Nor „Adha Abdul Hamid 2011, Alternative Dispute Resolution in Islamic Finance: From Adversarial to Non-Adversarial Justice, The Second Asian Business and Management Conference 2011, (pp. 224-234), ISSN: 2186-5914, Proceedings URL: http://iafor.org/abmc_proceedings.html
[15] Tun Abdul Hamid Mohamad. 2011. Malaysian as an Islamic FinanceHub: Malaysian Law as the Law of Reference & Malaysian Courts as the Forum for Settlement of Disputes. Presented in the 12th Conference of Prof. Emeritus Ahmad Ibrahim Memorial Lecture on 7 December 2011, Central Bank of Malaysia.
[16] The 14th Malaysian Law Conference held in the Kuala Lumpur Convention Centre (30 October 2007), Opportunities And Challenges In Islamic Commercial Law.
[17] Malaysian Federal Constitution
[18] Malaysian Islamic Bank Act 1983
[19] Malaysian Central Bank Act 2009
[20] Malaysian Banking and Finance Institutions Act 1989
[21] Malaysian Administration of Islamic Law (Federal Territories) Act 1993
[22] Malaysian Islamic Financial Services Act 2013
[23] Affin Bank v Zulkifli Abdullah, (2006) 3 MLJ 67
[24] Arab Malaysian Finance Bhd v Taman Ihsan Jaya Sdn Bhd & Ors (Koperasi Seri Kota Bukit Cheraka Bhd, 3rd Party), (2008) 5 MLJ 631
[25] Arab Malaysian Merchant Bank Bhd v Silver Concept Sdn Bhd (2010) 3 MLJ 702,
[26] Bank Islam Malaysia Berhad v Adnan Omar (1994) 3 CLJ 735
[27] Bank Islam Malaysia Berhad v Pasaraya Peladang Sdn. Bhd. (2004) 7 MLJ 355
[28] Bank Islam Malaysia Bhd v Azhar Bin Osman & Other Cases, (2010) 9 MLJ 192
[29] Bank Islam Malaysia Bhd v Lim Kok Hoe & Anor, (2009) 6 MLJ 839
[30] Bank Islam Msia Berhad v Mustaffar @ Mustaffa Bin Yacob & Anor, (2012) MLJU 668
[31] Bank Kerjasama Rakyat Malaysia Bhd v Psc Naval Dockyard Sdn Bhd, (2008) 1 CLJ
[32] Bank Kerjasama Rakyat Malaysia Bhd v Sea Oil Mill Sdn Bhd (2010) 2 MLJ 740,
[33] Bank Kerjasama Rakyat Msia v Emcee Corps Sdn Bhd, (2003) 1 CLJ 625
[34] Bank Muamalat Malaysia Berhad v Suhaimi Bin Md Hashim,
[35] Bank Muamalat Malaysia Bhd v Kong Sun Enterprise Sdn Bhd & yang lain (2012) 6 CLJ,[36] Che Omar bin Che Soh v Public Prosecutor (1988) 2 MLJ 55 (SC) at p 56
[37] CIMB Islamic Bank Bhd v LCL Corp Bhd & Anor (2012) 3 MLJ 869
[38] Dato Hj. Nik Mahmud Daud v BIMB (1998) 3 CLJ 605
[39] Dato‟ Kahar Shah bin Tun Sulaiman v datin Fauziah binti haron (2008) 7 MLJ 779(HC) at p 785 per Mohd Hishamudin J.
[40] Kamariah Bt Ali Dan Lain-Lain Lwn Kerajaan Negeri Kelantan, Malaysia Dan Satu Lagi (2002) 3 MLJ 657; (2002) 3 CLJ 766
[41] Kopeks Holdings Sdn Bhd V Bank Islam Malaysia Bhd, (2012) 4 MLJ 337
[42] Latifah Bte Mat Zin v Rosmawati Binti Sharibun, (2007) 5 MLJ 101
[43] Light Style Sdn Bhd v Kfh Ijarah House (M) Sdn Bhd, (2009) 4 MLJ 575
[44] Malayan Banking Bhd v Marilyn Ho Siok Lin, (2006) 7 MLJ 249
[45] Malayan Banking Bhd v Ya'kup Oje & Anor, (2007) 6 MLJ 389
[46] Mohd Alias bin Ibrahim v RHB Bank Bhd & Anor (2011) 3 MLJ 26
[47] Sukma Dermawan Sasmitaat Madja v Ketua Pengarah Penjara Malaysia & Anor (1999) 1 MLJ 286, (1999) 1 CLJ 481
[48] Tahan Steel Corp Sdn Bhd v Bimb, (2004) 6 CLJ 25
[49] Tan Sri Abdul Khalid Bin Ibrahim V Bank Islam Malaysia Bhd, (2012) 7 MLJ 597
[50] Tengku Mariam Bt Tengku Sri Wa Raja & Anor v Commissioner Of Religious Affair Terengganu, (1969) 1 MLJ 110 HC
[51] Tinta Press v Bank Islam Malaysia Berhad, (1987) 2 MLJ 192
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Published
2015-02-16
How to Cite
Dahlan, N. K., Palil, M. R., Yaa‟kub, N. I., & Abdul Hamid, M. (2015). ARBITRATION AND MEDIATION METHOD APPLIED TO ISLAMIC FINANCE CONFLICTS IN MALAYSIA. JOURNAL OF SOCIAL SCIENCE RESEARCH, 6(3), 1151–1158. https://doi.org/10.24297/jssr.v6i3.4329
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