Good Faith Principle Of Contract Law For The Islamic Banking System

Palabras clave: Contract Law, Good Faith Principle, Islamic banking, Quran. / banca islámica, Corán, Derecho contractual, principio de buena fe.

Resumen

ABSTRACT

 

The Islamic banking system has attracted the attention of scholars, practitioners, and investors. In the Islamic banking system, the good faith principle may not adequately serve the purpose for which the Islamic banks were set up. This paper is to examine both the present debate and the current practice of the good faith principle of Islamic contract law in banking system. The study uses secondary data procured from published research papers, the Holy Quran, and the Prophetic Sunnah, which embody all tenets of Islamic law. From our findings, the Islamic banking system is more economically efficient.

 

RESUMEN

 

El sistema bancario islámico ha atraído la atención de académicos, profesionales e inversores. En el sistema bancario islámico, el principio de buena fe puede no cumplir adecuadamente el propósito para el cual se crearon los bancos islámicos. Este documento es para examinar tanto el debate actual como la práctica actual del principio de buena fe del derecho contractual del sistema bancario islámico. El estudio utiliza datos secundarios obtenidos de trabajos de investigación publicados, el Sagrado Corán y la Sunnah profética, que incorporan todos los principios de la ley islámica. Según nuestros hallazgos, el sistema bancario islámico es más eficiente económicamente.

Biografía del autor/a

M. KHAN, Yeungnam University

Muhammad is currently doctoral student and research assistant at the department of international economics and business at Yeungnam University South Korea. He is also working as lecturer at Abdul Wali Khan University Mardan, Pakistan, in the department of Management Sciences since 2011. He has completed his Master in International Business from American College Dublin. His area of interest is Humanitarian Supply Chain Management, Humanitarian Logistics, Logistics, and Supply Chain Management and has published several papers in international journals.

N. H HAN, Kyungnam University

Nag Hyeon is working as Professor in the department of international trade and logistics Kyungnam University, South Korea. He received Ph.D. degree in The Graduate School of Commerce, Waseda University (Japan).  His research interests include international trade and logistics. He has published his research work in many reputed national and international journals

S. B CHOI, Cheju Halla University

Seok Beom is working as Professor in the department of international business at Cheju Halla University, South Korea. Assistant Professor, Associate Professor, Professor Chung-Ang University, Seoul (2001.3-2014.8). Full-time Lecturer Yeungnam University, Daegu (1996.3.-2001.2). His research interests include International Business. He has presented and published his research work in many reputed national and international journals.

 

J. H BAE, Yeungnam University

Junghan is working as Professor in the department of international economics and business at Yeungnam University, South Korea. He received Ph.D. degree at Busan National University, South Korea. He was foreigner researcher from 1993, 3 to 1994, 3 in Waseda University, Japan. He was a visiting scholar in 2001 at Washington State University, USA. His research interests include International Trade Law. He has presented and published his research work in many reputed national and international journals.

Citas

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Publicado
2019-12-08
Cómo citar
KHAN, M., HAN, N. H., CHOI, S. B., & BAE, J. H. (2019). Good Faith Principle Of Contract Law For The Islamic Banking System. Utopía Y Praxis Latinoamericana, 24(1), 239-251. Recuperado a partir de https://produccioncientificaluz.org/index.php/utopia/article/view/29952
Número
Vol. 24 (2019): Extra 5 [Interlocuciones]
Sección
Artículos