Emerging Issues in Islamic Finance Law and Practice in Malaysia

Dr. Umar A. Oseni is an Executive Director of the International Islamic Liquidity Management Corporation (IILM), a supranational financial institution headquartered in Kuala Lumpur. Professor Dr. M. Kabir Hassan is a Professor of Finance in the Department of Economics and Finance in the University of New Orleans. Dr. Rusni Hassan is a Professor at the IIUM Institute of Islamic Banking and Finance, IIUM.

• PART I: INTRODUCTION 1. Introduction: Revisiting the Confines and Significance of Islamic Finance Law; Umar A. Oseni, Kabir Hassan, Rusni Hassan PART II: WEALTH AND CONSUMER PROTECTION 2. Dealing with Unlawful Sources of Funds Among Islamic Banks in Malaysia: The Practitioners' Perspectives; Badruddin Hj Ibrahim, Marhanum Che Mohd Salleh, Azizah Mohd & Muhammad Laeba 3. The Objectives of Shariah in Nomination for The Payment of Family Takaful Benefits; Safinar Salleh, Akmal Hidayah Halim, Uzaimah Ibrahim & Mohamad Asmadi Abdullah 4. Creating Security to Finance Waqf Property Development in Malaysia: Issues and Solutions; Sharifah Zubaidah Syed Abdul Kader & Nor Asiah Mohamad 5. Hisbah as a Consumer Protection Institution in Malaysia: A Special Reference to the Islamic Consumer Credit Industry; Rusni Hassan & Ibtisam Ilyana Ilias PART III: REGULATORY COMPLIANCE AND LEGAL DOCUMENTATION 6. The Role of Financial Regulator in Protecting Banking Consumers from Unfair Contract Terms: The Case of Malaysian Islamic Banks; Noor Mahinar Abu Bakar, Norhashimah Mohd Yasin, Siti Salwani Razali & Ng See Teong 7. Effects of Anti-Money Laundering and Anti-Terrorism Law on Innovation of Mobile Payment Systems in Malaysia; Suhaimi Mhd Sarif, Ainul Jaria Maidin, Jamaludin Ibrahim & Abdul Rahman Ahmad Dahlan 8. Combating Money Laundering and Terrorism Financing: Perspectives from Maqāsid al-Sharī‘ah; Raja Madihah Raja Alias, Norhashimah Mohd Yasin, Badruddin Hj Ibrahim & Mohd Yazid Zul Kepli 9. Islamic Banks and Money Laundering in Malaysia: A Legal Compliance Perspective; Norhashimah Mohd Yasin, Nik Nuun Asma Nik Sulaiman & Mohd Yazid ZulKepli 10. Legal Issues in Sharī‘ah-Compliant Home Financing in Malaysia: A Case Study of a Bai Bithaman Ājil Contract; Umar A. Oseni, Mohd Fairullazi Ayob & Khairuddin Abdul Rashid 11. Procedural Laws Governing Event of Default in Islamic Financing in Malaysia: Issues and Challenges; Syuhaeda Aeni Mat Ali, Rusni Hassan & Ahmad Azam Othman PART IV: FINTECH AND BLOCKCHAIN TECHNOLOGY 12. Fintech and the Transformation of the Islamic Finance Regulatory Framework in Malaysia; Ho Wen Hui, Azwina Wati Abdull Manaf & Asfarina Kartika MohdShakri 13. Fintech and Its Impact on Islamic Fund Management in Malaysia: A Legal Viewpoint; Surianom Miskam, Abdul Monir Yaacob & Romzie Rosman 14. Cryptocurrency and Anti-Money Laundering Laws: The Need for An Integrated Approach; Mohd Yazid Zul Kepli & Sonny Zulhuda 15. Regulating Digital Currency: Taming the Unruly Horse?; Syed Fadhil Hanafi & Syed A Rahman

Scholars of law explore emerging legal issues in one of the most advanced Islamic financial services industry in the world: Malaysia. In sections on wealth and consumer protection, regulatory compliance and legal documentation, and fintech and blockchain technology, they consider such topics as the objectives of Shari'ah in nomination for the payment of family takaful benefits, the role of financial regulator in protecting bank consumers from unfair contract terms: the case of Malaysian Islamic banks, Islamic banks and money laundering in Malaysia: a legal compliance perspective, financial technology and the transformation of the Islamic finance regulatory framework in Malaysia, and regulating digital currency: taming the unruly.