Malaysia courts may get expert help on sharia finance
Malaysian Court of Justice
We are recommending this article to readers of this blog in general for its links in the right column on shariah finance – obviously it is pro-SCF and we disagree with that, but the links and resources are useful.
Points of Essence:
- Malaysian courts are urged to seek guidance from the central bank’s Shariah advisors when deciding cases on Islamic finance. There is a fear that as non-Shariah trained judges, decisions may be reached without giving precedence to the Islamic principles.
KUALA LUMPUR, Oct 29 (Reuters) – Malaysian courts may need to refer to the central bank’s sharia advisers when deciding Islamic finance matters to ensure cases are handled by sharia experts, a newspaper reported on Wednesday.
Islamic banking matters are heard by Malaysian civil courts which are staffed by judges who are not formally trained in the sharia. This has led to criticism that some sharia finance cases may not be decided according to Islamic principles.
‘It is learnt that the central bank is reviewing the necessary laws to make this possible,’ The Malaysian Reserve said, without citing the source of its information.
There was no immediate comment from the central bank.
The central bank has a board of sharia advisers which gives……
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