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Author: Ardeshir Atai
Publisher: BRILL
ISBN: 9004390561
Category : Law
Languages : en
Pages : 118
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Book Description
Since the 1979 Islamic Revolution, Iran has implemented Sharia-compliant banking and finance which makes it one of the few countries that has adopted Islamic banking. The post-war liberalization and privatization of the economy and subsequent deregulation had paved the ground for emergence of private banks and financial institutions which had been subject to strict government control and ownership of banks. Further reform of the banking sector included authorization for the establishment and operations of foreign-owned banks in Iran and ratification of international treaties for the reciprocal protection and promotion of capital investments. The most recent government reform plan concerning adoption of a comprehensive banking law aims to create a single regulator for the prudential regulation and supervision of banks and financial institutions. The implementation of the aforesaid banking reform will be instrumental for achieving a sound and safe banking system and restoring investor confidence in the Iranian banking and money markets.
Author: Ardeshir Atai
Publisher: BRILL
ISBN: 9004390561
Category : Law
Languages : en
Pages : 118
Get Book Here
Book Description
Since the 1979 Islamic Revolution, Iran has implemented Sharia-compliant banking and finance which makes it one of the few countries that has adopted Islamic banking. The post-war liberalization and privatization of the economy and subsequent deregulation had paved the ground for emergence of private banks and financial institutions which had been subject to strict government control and ownership of banks. Further reform of the banking sector included authorization for the establishment and operations of foreign-owned banks in Iran and ratification of international treaties for the reciprocal protection and promotion of capital investments. The most recent government reform plan concerning adoption of a comprehensive banking law aims to create a single regulator for the prudential regulation and supervision of banks and financial institutions. The implementation of the aforesaid banking reform will be instrumental for achieving a sound and safe banking system and restoring investor confidence in the Iranian banking and money markets.
Author: Iran
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 36
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Book Description
Author: Iran
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 28
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Book Description
Author: Iran
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 33
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Book Description
Author: IRAN [Leyes, etc., bancarias]
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451925328
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
In an Islamic system, as interest is prohibited, banks are expected to operate solely on the basis of profit and risk sharing. This paper describes the developments in Islamic banking in Iran and Pakistan. As these two countries have initiated the most far-reaching experiments with Islamic banking, their experiences have a significant bearing on the feasibility of such a system. The developments in these countries are evaluated against the theory underlying the Islamic banking, and suggestions are made to achieve a more efficient system.
Author: Sayed Hassan Amin
Publisher: Royston Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Author: Usa Ibp Usa
Publisher: International Business Publications USA
ISBN: 9781438723846
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Iran banking and Financial Market Handbook
Author: Chibli Mallat
Publisher: Springer
ISBN:
Category : History
Languages : en
Pages : 224
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Book Description
A collection of papers analyzing the various attempts to establish a system of Islamic law and finance. It investigates the modes of operation of institutions adopting the Islamic system, drawing on examples such as Malaysia, Iran, Pakistan and Egypt. Annotation copyrighted by Book News, Inc., Portland, OR
Author: Mohamed Adil
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The legal framework of the Islamic banking and finance in Malaysia is subject to the Civil law. Since the Federal Constitution has clearly provided that matters pertaining to banking and finance including the Islamic ones lie strictly at the Civil Court, the Shari'a Court has been ousted from hearing the matters. The Ninth Schedule, Item 1, List II - State List of the Federal Constitution has narrowed the jurisdiction of the Shari'a Court to Muslims only. It is further tapered that only Islamic personal laws and certain Islamic criminal laws are given to the Shari'a court. Hence, all cases involving Islamic banking and finance are heard before a Civil judge.On the other hand, all Islamic banking and financial systems in Iran are subject to Islamic law. Unlike in Malaysia, the single legal system in Iran has made it simpler and easier. No conflict of law has taken place.This paper attempts to analyse the legal framework of both countries by focusing on the interpretations of reported cases. It recommends that certain amendment of laws including the one in the Federal Constitution should be made. As for Iran, banks and financial institutions are not required to establish Shari'a Council. Furthermore, despite the fact that the Shari'a Council of Iran's Central Bank is the supreme for Shari'a references in Islamic banking, it does not have legal status. Hence, the Council has only the advisory power. Indeed, there are no laws and regulations in relation to the Shari'a supervision.
