Legal Framework To Support Islamic Banking and Finance In The United Arab Emirates
Article Sidebar
Main Article Content
Abstract
The duality of the banking system in the United Arab Emirates and its impact on economic development today represents the reality of banking systems in countries that license Islamic banking, especially with the state's first taking into account the traditional banking system. In contrast, banks, institutions, ministries, and organizations that manage work in this field practice these systems have been enabled in Muslim countries under the pressure of economic globalization. At the same time, the country is striving to develop the field of Islamic economy, support Islamic banking while enabling modern technologies and intelligent applications in the digital age, and encourage innovation in Islamic banking and finance. This trend calls for further research and deep consideration to clarify the role of the United Arab Emirates in supporting the Islamic economy and its banking and Islamic finance, as the idea of the duality of the banking system may seem contradictory in its application. As a result of this research, the Government of Dubai has started a strategic plan to develop the Islamic economy sector. The goal is to make Dubai the leading center for Islamic finance, e-commerce, the digital content industry, design and innovation, knowledge, education, and research, as well as the global reference for Islamic economy standards. The UAE government has adopted blockchain technology to implement government transactions and to achieve the desired results; the country launched the UAE Blockchain Strategy 2021m. The characteristics of the Islamic banking system reflect the reality of Sharia rulings without living and manipulation. However, the current situation has many observations, so coexistence has become at the expense of differentiation.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
An author who publishes in the Invest Journal of Sharia & Economic Law agrees to the following terms:
- The author retains the copyright and grants the journal the right of first publication of the work simultaneously licensed under the Creative Commons Attribution-NonCommercial 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal;
- The author is able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book) with the acknowledgement of its initial publication in this journal;
- The author is permitted and encouraged to post his/her work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of the published work (See The Effect of Open Access).
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
References
Abdullah, Belaidi. Al-Iqtisad al-Islamy al-Raqmy baina al-Ibtikar wal-Sa’adah fi Namt al-Hayah al-Islamy. Dubai: Muntada Fiqh al-Iqtisad, 2018.
Abu al-Izz, Ali Muhammad. Asasiyyat al-Amal al-Masrafi al-Islamy. Jordan: Dar al-Nafais, 2019.
Al-Amin, Hasan Abdullah. “Hukm al-Ta’amul al-Masrafi bi al-Fawaid”. Islamic Fiqh Academy Journal.
Al-Ba’li, Abdul Hamid. Tandzim al-‘Alaqah baina al-Masarif al-Islamiyyah wal-Bunuk al-Markaziyyah wal-Bunuk al-Taqlidiyyah. Conference on Islamic Finance Institutions, Dubai, 2005.
Al-Garib, Muhyiddin. Iqtisadiyyat al-Nuqud wal-Bunuk, 1972.
Al-Hattab, Kamal Taufiq. Al-‘Alaqat al-Ilmiyyah wal-Nadzariyyah baina al-Iqtisad al-Islami wal-Iqtisad al-Wadh’i. Shariah and Islamic Studies Journal Kuwait University Vol.24, 2001.
Al-Hijji, Isa Abd al-Rahman. Manhajiyyat al-Badail al-Shar’iyyah li al-Mu’amalat al-Maliyyah wal-Masrafiyyah: Dirasah Ta’siliyyah Tatbiqiyyah. Tunis: Al-Dar al-Malikiyyah, 2022.
Al-Himsyari, Mustafa. Al-A’mal al-Masrafiyyah wal-Islam. Kairo: Matbuat Majma’ al-Buhus al-Islamiyyah. 1985.
Al-Hunaiti, Hana Muhammad. Bay’ al-Inah wal-Tawarruq: Dirasah Tatbiqiyyah ‘ala al-Masarif al-Islamiyyah. Riyadh: Dar Kunuz Isybiliya, 2012.
Al-Lajimi, Muhammad. Khalq al-Nuqud Haqiqatuhu wa Hukmuhu fi al-Fiqh al-Islami: Dirasah Ta’siliyyah. Tunis: Al-Dar al-Malikiyyah, 2020.
Al-Marzuqi, Ahmad Salih. Al-Tamwil al-Raqmi: Dirasah Nadzariyyah Tatbiqiyyah fi Dhau Ahkam al-Syari’ah al-Islamiyyah. Syarjah: Markas al-Syariqah al-Islami li al-Iqtisad wat-Tamwil, 2019.
Al-Marzuqi, Najah Muhammad. “Al-Ibtikar fi al-Iqtishad al-Islamy: al-Hajah ilahi wa Atsaruhu ‘ala namt al-Hayah al-Islamy,” http://ijtihadnet.net/
Al-Najjar, Farid Ragib. Al-Istitsmar bi al-Nudzum al-Raqmiyyah wal-Iqtisad al-Raqmiy. Aleksandria: Muassasah Syabab al-Jamiah, 2004.
Al-Naqbi, Ja’far Ali. Ri’ayat Maqsad al-‘Adl fi ‘Uqud al-Mu`awadhat al-Maliyyah: Dirasah Maqasidiyyah Fiqhiyyah Muqaranah bi Qanun al-Mu’amalat al-Madaniyyah al-Imarati. Thesis, Sharjah University, 2021.
Al-Qadi, Abdullah. Al-Siyasah al-Syar’iyyah Masdar li al-Taqnin baina al-Nadzariyyah wal-Tatbiq. Tanta: Dar al-Kutub al-Jami’iyyah, 1989.
Al-Qassar, Abdul Aziz. Da’m Istiratijiyyat Dubai Asimat al-Iqtisad al-Islami. Dubai: Department of Islamic Affairs, 2015.
Al-Qudah, Mansur Ali. Al-Tasnif al-Syar’I li Muntajat al-Muassasat al-Maliyyah al-Islamiyyah wa Dauruhu fi Tatwir Ada’iha. Dissertation, Yarmuk University, 2009.
Al-Syaikh, Gassan Muhammad. Ikhtilat al-Halal bi al-Haram fi Ta’amulat al-Masarif al-Islamiyyah. Damaskus: Dar al-Qalam, 2014.
Al-Syammari, Ta’mah. Alaqat al-Bank al-Markazi bi al-Bunuk al-Islamiyyah. Shariah and Islamic Studies Journal Kuwait University Vol.28, 1996.
Al-Ubaidi, Ibrahim Abd al-Latif. Al-Masrafiyah al-Islamiyyah Mafahimuha wa Khasaisuha wa Tatbiqatuha. Dubai: Department of Islamic Affairs, 2015.
Al-Zuhaili, Wahbah. Juhud Taqnin al-Fiqh al-Islami. Damaskus: Dar al-Fikr al-Mu’asir, 2014.
Asyur, Muhammad al-Tahir. Maqasid al-Shari’ah al-Islamiyyah. Jordan: Dar al-Nafais, 2001.
Barakah, Imad Abd al-Rahman. Qadaya wa Mushkilat fi al-Masarif al-Islamiyyah wa Hulul Muqtarahah. Jordan: Dar al-Nafais, 2015.
Da’as, Jamal. Al-Siyasah al-Naqdiyyah fi al-Nidzamain al-Islami wal-Wadh’i. Dar al-Khalduniyyah, 2007.
Dawabeh, Asyaraf. Dirasat fi al-Tamwil al-Islami. Kairo: Dar al-Salam, 2007.
Farhan, Muhammad and Muhammad Abd al-Qadir. Al-Haukamah fi al-Masarif al-Islamiyyah al-Yamaniyyah: Dirasah Tatbiqiyyah. Islamic Bank vol 2, http://iesjournal.org/
Isa, Daud Salman. Al-Haukamah wa Tatbiqatuha ‘ala al-Tadqiq al-Syar’iyyah wal-Riqabah al-Syar’iyyah. Dar al-Basyair al-Islamyyah, 2020.
Kamil, Salih. Tatawwur al-‘Amal al-Masrafi al-Islami: Masyakil wa Afaq. Jeddah: Al-Ma’had al-Islami li al-Buhus wal-Tadrib, 1979.
Khauja, Izzuddin. Al-Khadamat al-Masrafiyyah Al-Islamiyyah. Tunis: Al-Dar al-Malikiyyah, 2017.
--- . Al-Nidzam al-Masrafi al-Islami. Tunis: Al-Dar al-Malikiyyah, 2017.
Muhammad, Nifin Hasan. “Daur al-Ibtikar wal-Ibda’ al-Mustamir fi Dhiman al-Markaz al-Tanafusi li al-Muassasat al-Iqtisadiyyah wal-Duwal.” Dirasat Halat Dawla al-Imarat, 2016.
Nahar, Nayif. Al-Sayrafah al-Islamiyyah fi Daulat Qatr. Damaskus: Dar ‘Aql, 2015.
Qal’aji, Muhammad Rawwas. Mu’jam Lugat al-Fuqaha. Jordan: Dar al-Nafais, 1988.
Qammurah, Syahbi. Al-Dzaka` al-Istina’i baina al-Waqi’ wal-Ma’mul. Aljazair, 2018.
Qunduz, Abdul Karim Ahmad. Al-Tamwil al-Islamy wal-Numuw al-Iqtisadi. Abu Dhabi: Ma’had al-Tadrib wa Bina’ al-Qudurat, 2021.
“Qawa’id al-Hisabat al-Bakniyyah”, Saudi Center Bank, March 2022, https://www.sama.gov.sa/.
Suwailim, Sami. Sina’at al-Handasah al-Maliyyah: Nadzarat fi al-Manhaj al-Islami. Riyadh: Markaz al-Buhus Syarikah al-Rajihi, 2004.
Syahadah, Musa. Alaqat al-Bunuk al-Islamiyyah ma’a al-Bunuk al-Markaziyyah. Jurisprudential Development Conference, Oman, 1994.
Tariz, Mansur. Al-Sayrafah al-Islamiyyah: Mafhumuha wa Tatwiruha fi Aswaq al-Mal al-Alamiyyah. Journal of Labanese Army Vol. 250, 2006.
Ubaidi, Ibrahim Abd al-Latif. I’timad al-Masarif al-Markaziyyah Ma’ayir AAOFI Dalalat wa Tashri’at. Journal of Islamic Economy 2021. https://www.aliqtisadalislami.net/
Umar, Abdul Halim Muhammad. Al-Qawa’id al-Shar’iyyah wa Tatbiqatuha ‘ala al-Mu’amalat al-Maliyyah al-Mu’asirah. Journal of Salih Kamil for Islamic Economy Vol.9, 1999.
Za’ir, Muhammad Abdul Hakim. Al-Alaqat baina al-Bunuk al-Islamiyyah wal-Bunuk al-Taqlidiyyah. Proceeding of The Role of Islamic Banking Institutions in Investment and Development, 2002. Sharjah: Sharjah University.