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The Regulatory Framework Governing Traditional Arbitration in Resolving Islamic Banking Disputes in Malaysia: The Time for Change Mohamad Fateh Labanieh; Mohammad Azam Hussain; Nazli Mahdzir
Jurnal Hukum Novelty Vol 12, No 2 (2021)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26555/novelty.v12i2.a20791

Abstract

Introduction to The Problem: Malaysia has established its place as a global leader in Islamic banking due to the considerable efforts made by the Malaysian lawmakers to enhance the Islamic banking dispute resolution framework and provide the Islamic banking disputants with several resolution mechanisms, such as traditional arbitration. However, using traditional arbitration in resolving Islamic banking disputes is not free from criticisms. Therefore, there is a need to find an alternative or enhanced form of traditional arbitration mechanism.Purpose/Objective Study: This article examines the regulatory framework governing traditional arbitration in resolving Islamic banking disputes in Malaysia.Design/Methodology/Approach: This article is based on doctrinal legal research Methodology. Primary data was secured from several sources, such as Acts, Laws, and Court Cases. While secondary data was collected from books, journal articles, and online databases. Both data are analyzed by using critical and analytical approaches.Findings: It is found that Arbitration Act 2005 (Act 646) and I-Arbitration Rules 2018 have been subjected to several amendments to align with the international norms and best practices. However, Malaysian lawmakers should start thinking out of the box by reinforcing the Islamic banking disputants with an effective resolution mechanism known as electronic arbitration (hereinafter referred to as “e-arbitration”). Doing so would facilitate prompt access to justice in Islamic banking disputes in Malaysia.Paper Type: Research Article
Improving the Quality and Safety Standard in Implementing E-Arbitration in Resolving Islamic Banking Disputes in Malaysia Mohammad Azam Hussain; Mohamad Fateh Labanieh; Nazli Mahdzir
International Journal of Supply Chain Management Vol 9, No 4 (2020): International Journal of Supply Chain Management (IJSCM)
Publisher : International Journal of Supply Chain Management

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Abstract

Electronic arbitration (hereinafter referred to as e-arbitration) is a combination of law and technology. Even though e-arbitration has not been implemented yet in Malaysia, the Malaysian authorities should be ready to meet the non-legal requirements for implementing it in the future as compliment to the existing traditional arbitration method. By using legal research methodology, this article endeavours to examine how the future implementation of e-arbitration in resolving the Islamic banking dispute can be improved especially in handling cyber security. The collected data is analytically and critically scrutinised using content analysis method. The article found that enhancing cyber security is a pressing need to improve the future implementation of e-arbitration in Malaysia successfully. Therefore, the article recommended several legal and technical measures to enhance cyber-security in e-arbitration in Malaysia.