Student editor Esther Agbaje (HLS ’17) suggests that sukuk (commonly called Islamic bonds) are insufficient to handle bankruptcy in financial systems operating with respect to Islamic law, or sharīʿa compliance. Banks and other financial institutions or municipalities that issue sukuk intend for these … Continue reading The Need for an Islamic Bankruptcy Code
Debt and Bankruptcy in Classical Islamic Law
Student editor Esther Agbaje (Harvard Law School) explores classical Islamic law's basic conceptions of debt and bankruptcy. While the main Islamic texts, the Qur’ān and Sunna (records of the Prophet Muhammad's teachings), provide … Continue reading Debt and Bankruptcy in Classical Islamic Law
Country Profile: Malaysia
By Esther Agbaje Legal History Before Portugal colonized Malaysia in 1511, Malaysia was an Islamic Sultanate that began in the fourteenth century under the rule of Sultan Iskander Shah.[1] Since … Continue reading Country Profile: Malaysia
Building an Islamic Bankruptcy Regime from Financial Dispute Resolution Caselaw
By Esther Agbaje Developing an Islamic bankruptcy code is important, especially as Islamic finance systems continue to exist and to grow. In Islamic finance, the ideal is that Islamic financial … Continue reading Building an Islamic Bankruptcy Regime from Financial Dispute Resolution Caselaw
Bankruptcy Laws in the UAE and Malaysia Lack Islamic Principles
By Esther Agbaje Bankruptcy is a potential outcome most people do not like to discuss. This may be why Islamic finance regulators give limited attention to dissolving, discharging, or repaying … Continue reading Bankruptcy Laws in the UAE and Malaysia Lack Islamic Principles