Arbitration as a Method of Dispute Resolution in Islamic Banking in Malaysia

Abdul Majid Tahir, Mohamed and Noor ‘Ashikin, Hamid and Maheran, Makhtar and Khairun-Nisaa, Asari (2015) Arbitration as a Method of Dispute Resolution in Islamic Banking in Malaysia. In: e-PROCEEDINGS OF THE 4TH INTERNATIONAL CONFERENCE ON LAW AND SOCIETY 2015 (ICLAS IV), 10-11 May 2015, UNISZA.

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Abstract

Arbitration is one of important alternative dispute resolution (ADR) methods. Being an alternative method, it had advantages over the conventional dispute resolution method i.e court litigation. This paper is to examine the application of arbitration as a method of resolving disputes in islamic banking in Malaysia. This paper adopts library research method whereby analysis is done to relevant statutory laws, decided cases, books, journals, law reports, newspapers articles, conference proceedings and other periodicals. This paper concludes that although the law and bodies related to arbitration in islamic banking in Malaysia are already in place, few improvements could be done to ensure the arbitral process is more in line with Shariah.

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