Interest and Banks in Saudi Arabia: A Dilemma

IF 0.5 Q3 LAW

Arab Law Quarterly Pub Date : 2020-10-22 DOI:10.1163/15730255-bja10058

S. Alamer

引用次数: 0

Abstract

The banking system in Saudi Arabia faces legal issues with Sharīʿah compliance. Despite the fact that Islamic law is the main drive of the country’s legal system, Islamic banking is not well supported in the banking regulations and it may encounter legal obstacles in applying some Islamic financial mechanisms. On the other hand, conventional banking is not free of legal hurdles as it is challenged by the Islamic judiciary system in the country where interest-based loans are not enforced. These cases create a dilemma where the banking system in the country has to take a clearer legal position toward interest and Islamic banking.

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沙特阿拉伯的利息与银行：困境

沙特阿拉伯的银行系统在Sharīah合规方面面临法律问题。尽管伊斯兰法律是该国法律体系的主要驱动力，但伊斯兰银行业在银行业法规中没有得到很好的支持，在应用一些伊斯兰金融机制时可能会遇到法律障碍。另一方面，传统银行业也并非没有法律障碍，因为它受到该国伊斯兰司法系统的挑战，该国不执行基于利息的贷款。这些案件造成了一个困境，即该国的银行系统必须对利息和伊斯兰银行采取更明确的法律立场。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Arab Law Quarterly LAW-

CiteScore

0.50

自引率

33.30%

发文量

期刊介绍： The leading English-language legal publication in its field, Arab Law Quarterly covers all aspects of Arab laws, both Shari"a and secular. Now in its third decade, it provides an important forum of authoritative articles on the laws and legal developments throughout the twenty countries of the Arab world, notes on recent legislation and case law, guidelines on future changes, and reviews of the latest literature in the field. Particular subject areas covered are Arab laws in trans-national affairs, commercial law, Islamic law (the Shari´a), and international comparative law.