Last month, a representative of the Malaysian Industry-Government Group for High Technology—a public-private taskforce overseen by the prime minister to examine ways of using new technology to promote business opportunities—suggested that Islamic banks could reduce legal and administrative costs by using "blockchain." Blockchain is a type of electronic ledger, and according to the representative, blockchain … Continue reading In the News: Islamic Banks and FinTech
Last week, the news from Malaysia that two women were convicted of same-sex relations and were publicly caned in front of a large crowd prompted international condemnation. The decision was handed down by a sharīʿa court in the state of Terengganu. Under Malaysia’s Constitution, there are two parallel justice systems: the civil/criminal court system that … Continue reading In the News: LGBT Rights in Malaysia
Last week, SHARIAsource Senior Scholar Mohammad Fadel was a panelist at an Atlantic Center event on “Rethinking Human Rights and Islam.” In addition, SHARIAsource Egypt and Malaysia Editor Tamir Moustafa has written a new book—Constituting Religion: Islam, Liberal Rights, and the Malaysian State—which can be downloaded here from Cambridge University Press.
This week's issue of the Islamic Law & Law of the Muslim World eJournal includes: "Islam and Women Rights in Pakistan" by Ihsan Yilmaz and Zahid Shahab Ahmed This paper analyzes the impact of two constitutional bodies with the power to perform ijtihād—the Council of Islamic Ideology and the Federal Shariat Court—on women's rights in … Continue reading Islamic Law & Law of the Muslim World eJournal: Sept 7th
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