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12 Dispute Resolution and Specialized ADR for Islamic Finance

Andrew White

From: Islamic Finance: Law and Practice

Edited By: Craig R.Nethercott, David M. Eisenberg

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 19 April 2024

Legal proceedings and monetary obligations — Enforcement — Customer obligations and foreign law — Settlement
12.01 Although assets under management by Islamic financial institutions may only total about US$1 trillion at present, the Islamic finance industry1 worldwide is enjoying an annual growth rate estimated conservatively at between 15–20 per cent.2 Even the most unlikely enthusiasts for Islamic finance have come to the fore, as the Vatican itself recently pronounced that the ‘ethical principles on which Islamic finance is based may bring banks closer to their clients and to the true spirit which should mark every financial service’.3 12.02 In tandem with the...
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