Nurul Atiqah 1620244 Legal Aspect Notes Week5 6
Nurul Atiqah 1620244 Legal Aspect Notes Week5 6
SHARIAH
MANAGEMENT
Ensure business & operations comply with Shariah
Support Shariah Committee
SHARIAH
Establish a robust methodology to guide its decision making process
COMMITTEE
Consider relevant business & risk practices in its decision & advice
Al-
Riba Zuhm
1st Level of
Compliance Gharar
Uqud Musamma
Islamic Contract
Uqud Ghair Musamma
Investment Activities
Underwriting
Fund Management
2nd Level of Shariah Compliant
Compliance Function Managing Income
Risk Management
Partnership
contracts
Foreign Agency
exchange contracts
Jurisdiction of
Civil Vourt
(9th Schedule,
List I)
Promissory includes... Negotiable
notes instrument
Bill of
Cheques
exchange
Arbitration Mechanism
Special rules
Asian International Arbitration Speed & confidentiality
Centre (AIAC)
Superior
Courts
Special
Federal
Court Court
Court of Appeal
Muamalah
Court
High Court
Subordinates
Courts Sessions Court
Consist of Chief Justice, Hears all civil and criminal General supervisory &
the President of Court of appeals against High revisionary over all
Appeal, the Chief Judge of Court's decisions Subordinate Courts
Sabah & Sarawak & 6 Hear civil & criminal
Federal Court Judges appeals from Subordinate
Every proceeding = min 3 Courts
judges Hear matters such as
Chief Justice - head divorce, bankruptcy
Malaysian Judiciary children's custody,
contracts & etc...
Muamalat
Division