This commentary, by SHARIAsource Southeast Asia editor Jeff Redding, explains crucial aspects of the 2014 Indian Supreme Court decision in Vishwa Lochan Madan v. Union of India, arguing that this highly-anticipated and long-delayed opinion left much unresolved about whether non-state Muslim legal actors have a role, along with state courts, in announcing and enforcing Muslim Personal … Continue reading Commentary: Vishwa Lochan Madan v. Union of India (2014) and the Uncertain Boundaries of Muslim Personal Law in India
Decided by the Supreme Court of India, Vishwa Lochan Madan v. Union of India decreed that fatwas issued by sharīʿa courts hold no legal leverage. Read the case.
This commentary, by SHARIAsource U.A.E. and Malaysia editor Paul Lee, examines the U.S. and the U.K. as an example of a model of competitive equality for the regulation of sharīʿa compliance in Islamic finance. The regulation of Islamic finance has generally been an area to which Western jurisdictions have devoted limited attention, and courts and regulators have … Continue reading Commentary: The US, the UK, and the Model of Competitive Equality
This article, by SHARIAsource South Asia editor Dr. Zubair Abbasi, provides an overview of the judgments of the Judicial Committee of the Privy Council, the highest court of appeal in the British Empire regarding Islamic Endowments (awqāf). The cases originated from all over the Muslim-populated areas of the British Empire. The first judgment was delivered … Continue reading Commentary: The Judicial Committee of the Privy Council and Islamic Endowments (Awqāf)
The Islamic Law Teaching Project houses collections of syllabi and other teaching material for Islamic law courses taught primarily in law schools of the US and UK. This syllabus is from Professor Abed Awad at Rutgers University School of Law. This course is an intensive basic introduction to Islamic banking and finance. After discussing the moral and … Continue reading Syllabus, Rutgers University School of Law: Islamic Banking and Finance
Plaintiff Kevin Murray, an American taxpayer, sued Treasury Secretary Timothy Geithner and the Board of Directors of the Federal Reserve, arguing that the Emergency Economic Stabilization Act (EESA), which established the Troubled Asset Relief Program (TARP), violated the Establishment clause of the First Amendment by allowing funds to be used to support companies that invest … Continue reading Islamic Law in U.S. Courts: Murray v. Geithner (E.D. Mich. 2011): U.S. Financial Bailout Ruled Nondiscriminatory
To fund construction for a new building without violating Islamic law's prohibition against interest, the Islamic Center of Nashville (ICN) entered into an ijāra agreement with Devon Bank; the bank created a subsidiary for the purpose of the ijāra agreement. Under the agreement, Devon Bank had legal ownership of the building's title until ICN could fully purchase the building. … Continue reading Islamic Center of Nashville v. State of Tennessee (6th Cir. 2017): Ijāra Financing Cancels Real Estate Tax Exemption for Financed Property
U.S. Editor Abed Awad examines the implications of the 6th Circuit's decision in September regarding the financing of an Islamic Center through ijāra. Case: Islamic Center of Nashville v. Tennessee, et al., 872 F.3d 377 (6th Cir. 2017) Established in 1979, the Islamic Center of Nashville is a religious not-for-profit that operates both a mosque … Continue reading Islamic Center of Nashville: Ijāra Financing Cancels Religious Tax Exemption for Financed Property
UAE and Malaysia editor Paul Lee's commentary examines Malaysia as an example of a centralized model of regulating Sharīʿah compliance in Islamic finance. "When parties seek to engage in Islamic finance in a jurisdiction, that jurisdiction must make a determination as to whether, and how, to regulate Islamic finance. Beyond those issues arising in conventional finance, Islamic … Continue reading Malaysia and the Centralized Model of Islamic Finance Regulation
This is a memorandum (circulaire) issued by the shari'a board of the Central Bank of Morocco (Bank al-Maghrib) in January 2017. The document contains fatwās pertaining to Islamic financial instruments such as murābaḥa and regulations concerning its practice and penalties. See document and see the interview with a sharīʿa auditor at Dar Assafaa.