Commercial Arbitration in Islamic Jurisprudence

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ABSTRACT

This proposal will broadly explore interplay between commercial arbitration in Islamic jurisprudence. Importance of arbitration law in international trade Arbitration is attractive for several reasons, the type of dispute resolution in conflicts within international transactions, whether between two Companies or between a company and a state institution. The issue of Sharia debate on commercial arbitration is also discussed in the report. The term refers to the Sharia Islamic law, it contains all of the laws to be observed in an Islamic society and are fulfilling with relation to this International commercial arbitration. The main aim of the Arbitration Court is to consider and resolve international commercial disputes which discuss in particular by making binding decisions for the disputants.

TABLE OF CONTENT

ABSTRACTii

CHAPTER 01: INTRODUCTION1

Background of the research1

Problem Statement1

Aims2

Objectives2

Research Question2

CHAPTER 02: LITERATURE REVIEW3

Arbitration3

Commercial Arbitration4

Arbitration and Islam5

Sharia & Fiqh6

History of modern arbitration in the Islamic countries7

International commercial Arbitration8

CHAPTER 03: METHODOLOGY10

Research Method10

Data Gathering Technique11

REFERENCES13

CHAPTER 01: INTRODUCTION

Background of the research

Commercial arbitration is a voluntary, private arbitration used to settle disputes in the general commercial or business world. There are two settings in which commercial arbitration occurs. Most commercial arbitration arises from a contract clause providing for the arbitration of future disputes arising out of the contract or from an agreement between parties in a commercial relationship to submit an existing dispute to arbitration (Varady, Barcelo & Taylor 2006,p. 78). Another type of commercial arbitration arises within trade associations or exchanges that, usually through charter or bylaws, provide for the arbitration of member disputes as a condition of membership.

Problem Statement

Importance of arbitration law in international trade Arbitration is attractive for several reasons, the type of dispute resolution in conflicts within international transactions, whether between two Companies or between a company and a state institution.

The advantages that commercial arbitration over litigation in national courts predominate, offer clear, regardless of whether it would be an ad hoc procedure or is a proceeding before an arbitration institution, where the trend is clearly the latter is (Varady, Barcelo & Taylor 2006,p. 78). The proceedings before an arbitral tribunal for lack of appeal are shorter, by extensive influence of flexible, because of the public exclusion discrete and finally because of the expertise of the arbitrators and the Empowerment of the parties in their nomination as a trusted those proceedings before a state court. Hence, the trend in international Agree to arbitration clauses comprehensible transactions. Below, the International Commercial Arbitration A as a means of dispute settlement for the Middle- and the Middle East are presented in summary form.

Aims

The main aim of the research will be to:

Explore the commercial arbitration in Islamic jurisprudence.

Objectives

The objectives of the research will be to:

Discuss the international commercial arbitration law with relation to the Islamic perspective.

Explore the issue of Sharia debate on commercial arbitration.

Research Question

The thesis will explore the following research question;

Discuss the importance of commercial arbitration in Islamic jurisprudence?

Explore the relationship between commercial arbitration and Sharia:

Investigate the Sharia, Fiqh & the Roots of Islamic Law with relation to commercial arbitration law?

CHAPTER 02: ...