The Application of Sharīʿah Finance Rules in International Commercial Arbitration

Due to its flexibility, speed and confidentiality, arbitration becomes the most attractive method for contracting parties to resolve their commercial disputes. This method of choice has developed gradually in the modern legal system of Islamic Countries (ICs) over the last three decades. Thus, many...

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Autores principales:	Ahmad Q. Farah, Rasha M. Hattab
Formato:	article
Lenguaje:	EN
Publicado:	Utrecht University School of Law 2020
Materias:	sharīʿah islamic law islamic finance international arbitration western arbitrators foreign arbitral awards public order islamic arbitration institutions islamic countries (ics) Law in general. Comparative and uniform law. Jurisprudence K1-7720
Acceso en línea:	https://doaj.org/article/55c48aad22db45d2bfd2be094b147d54
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spelling	oai:doaj.org-article:55c48aad22db45d2bfd2be094b147d542021-11-08T08:17:04ZThe Application of Sharīʿah Finance Rules in International Commercial Arbitration1871-515X10.36633/ulr.592https://doaj.org/article/55c48aad22db45d2bfd2be094b147d542020-06-01T00:00:00Zhttps://www.utrechtlawreview.org/articles/592https://doaj.org/toc/1871-515XDue to its flexibility, speed and confidentiality, arbitration becomes the most attractive method for contracting parties to resolve their commercial disputes. This method of choice has developed gradually in the modern legal system of Islamic Countries (ICs) over the last three decades. Thus, many of individual countries have enacted their own arbitration regulations and ratified the relevant international arbitration conventions. They also established many qualified regional arbitration institutions. Subsequently, the referral to arbitration by professionals of these countries to settle their commercial disputes gains abundant popularity. This article provides a detailed view of Sharīʿah factor in international commercial arbitration. Enforcement is certainly the goal for the arbitration process. Nevertheless, enforcement of foreign arbitral awards in the ICs could be challenged if these awards are contrary to Sharīʿah public policy. Therefore, by using this exception, the ICs can reject the enforcement of any foreign award that violates Sharīʿah public order.Ahmad Q. FarahRasha M. HattabUtrecht University School of Lawarticlesharīʿahislamic lawislamic financeinternational arbitrationwestern arbitratorsforeign arbitral awardspublic orderislamic arbitration institutionsislamic countries (ics)Law in general. Comparative and uniform law. JurisprudenceK1-7720ENUtrecht Law Review, Vol 16, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	sharīʿah islamic law islamic finance international arbitration western arbitrators foreign arbitral awards public order islamic arbitration institutions islamic countries (ics) Law in general. Comparative and uniform law. Jurisprudence K1-7720
spellingShingle	sharīʿah islamic law islamic finance international arbitration western arbitrators foreign arbitral awards public order islamic arbitration institutions islamic countries (ics) Law in general. Comparative and uniform law. Jurisprudence K1-7720 Ahmad Q. Farah Rasha M. Hattab The Application of Sharīʿah Finance Rules in International Commercial Arbitration
description	Due to its flexibility, speed and confidentiality, arbitration becomes the most attractive method for contracting parties to resolve their commercial disputes. This method of choice has developed gradually in the modern legal system of Islamic Countries (ICs) over the last three decades. Thus, many of individual countries have enacted their own arbitration regulations and ratified the relevant international arbitration conventions. They also established many qualified regional arbitration institutions. Subsequently, the referral to arbitration by professionals of these countries to settle their commercial disputes gains abundant popularity. This article provides a detailed view of Sharīʿah factor in international commercial arbitration. Enforcement is certainly the goal for the arbitration process. Nevertheless, enforcement of foreign arbitral awards in the ICs could be challenged if these awards are contrary to Sharīʿah public policy. Therefore, by using this exception, the ICs can reject the enforcement of any foreign award that violates Sharīʿah public order.
format	article
author	Ahmad Q. Farah Rasha M. Hattab
author_facet	Ahmad Q. Farah Rasha M. Hattab
author_sort	Ahmad Q. Farah
title	The Application of Sharīʿah Finance Rules in International Commercial Arbitration
title_short	The Application of Sharīʿah Finance Rules in International Commercial Arbitration
title_full	The Application of Sharīʿah Finance Rules in International Commercial Arbitration
title_fullStr	The Application of Sharīʿah Finance Rules in International Commercial Arbitration
title_full_unstemmed	The Application of Sharīʿah Finance Rules in International Commercial Arbitration
title_sort	application of sharīʿah finance rules in international commercial arbitration
publisher	Utrecht University School of Law
publishDate	2020
url	https://doaj.org/article/55c48aad22db45d2bfd2be094b147d54
work_keys_str_mv	AT ahmadqfarah theapplicationofshariʿahfinancerulesininternationalcommercialarbitration AT rashamhattab theapplicationofshariʿahfinancerulesininternationalcommercialarbitration AT ahmadqfarah applicationofshariʿahfinancerulesininternationalcommercialarbitration AT rashamhattab applicationofshariʿahfinancerulesininternationalcommercialarbitration
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The Application of Sharīʿah Finance Rules in International Commercial Arbitration

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