This paper aims to analyse and compare the petition for liquidation and administrative liquidation procedures within Saudi and UK insolvency law. It explores how Sharia principles…
Abstract
Purpose
This paper aims to analyse and compare the petition for liquidation and administrative liquidation procedures within Saudi and UK insolvency law. It explores how Sharia principles shape insolvency practices and examines critical elements such as creditor rights, asset management and the prioritization of claims. By highlighting the procedural differences and their implications for stakeholders, this study seeks to uncover the effectiveness and fairness of each system. Ultimately, this comparative analysis aspires to contribute to a deeper understanding of how insolvency frameworks influence economic recovery and stakeholder protection in varying legal contexts.
Design/methodology/approach
This study uses a comparative analysis approach, drawing from legal texts, academic literature and case law in both Saudi Arabia and the UK. It includes a thorough examination of insolvency statutes, court rulings and procedural frameworks, identifying key differences and similarities. Empirical data regarding insolvency outcomes, such as process duration and creditor recovery rates, will be assessed to evaluate each system’s effectiveness. This methodology aims to provide a comprehensive understanding of insolvency procedures while integrating both theoretical frameworks and practical examples to enrich the analysis.
Findings
The findings reveal significant differences in how the petition for liquidation and administrative liquidation procedures are implemented in Saudi Arabia and the UK. Saudi insolvency practices are deeply influenced by Sharia principles, emphasizing fairness and creditor−debtor relationships. In contrast, the UK framework showcases a more commercial approach. This study identifies leadership roles and procedural transparency as critical factors affecting stakeholder outcomes. Overall, the analysis underscores the necessity for continuous improvement in both jurisdictions to enhance the effectiveness and fairness of insolvency proceedings, promoting better economic recovery.
Research limitations/implications
This study’s limitations include its focus on specific legal frameworks, which may restrict the generalizability of findings to other jurisdictions. The reliance on qualitative data from selected cases might not capture the full spectrum of insolvency practices in Saudi Arabia and the UK. Future research is encouraged to test the proposed insights in broader contexts and examine the influence of emerging legal reforms on insolvency practices. In addition, interdisciplinary studies could further enrich the understanding of how cultural and economic factors shape insolvency law.
Practical implications
The comparative analysis provides practical insights for legal practitioners, policymakers and stakeholders involved in insolvency proceedings. Recommendations include enhancing procedural transparency, improving creditor engagement and fostering a balanced approach to liquidation and restructuring. By understanding the unique characteristics of each system, stakeholders can better navigate insolvency processes, ultimately promoting fair treatment and improving recovery outcomes. This study also highlights the importance of aligning local practices with international standards to facilitate cross-border transactions and enhance economic stability.
Originality/value
This paper contributes to the under-researched area of Islamic insolvency law by providing a comparative analysis of liquidation procedures in Saudi Arabia and the UK. It highlights the interplay between Sharia principles and modern insolvency practices, filling a gap in existing literature. By examining the implications for creditors and stakeholders, this study offers valuable insights into the effectiveness and fairness of insolvency frameworks. Its findings can inform future legal reforms and facilitate greater understanding of how different jurisdictions handle insolvency challenges, promoting global best practices in this domain.
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The purpose of this paper is to provide an in-depth analysis of the historical restrictions imposed by the UAE and Jordan on the arbitrability of agency disputes, driven by public…
Abstract
Purpose
The purpose of this paper is to provide an in-depth analysis of the historical restrictions imposed by the UAE and Jordan on the arbitrability of agency disputes, driven by public policy considerations to protect local agents. It examines recent developments in UAE arbitration law and their alignment with global trends in international arbitration. The study evaluates how these reforms balance local agency interests with contractual autonomy. By offering comparative perspectives, the paper provides valuable lessons for Jordan and other restrictive nations in the Arab world to modernize their arbitration frameworks, reconcile domestic and international priorities, and enhance their appeal for international trade and investment.
Design/methodology/approach
This paper examines the legal framework for arbitrating commercial agency disputes in Jordan and the UAE, two civil law jurisdictions with a shared tradition but distinctly different approaches. While the UAE’s 2022 reforms have clarified questions regarding arbitrability and aligned its legal framework with internationally recognized standards, Jordan’s framework has retained a framework that tends to be constrained by uncertainties within its domestic laws and an excessive reliance on court jurisdiction. These uncertainties undermine the effectiveness of arbitration, limit access to justice and create problems, particularly for international businesses that value what the arbitration provides. The paper, through a comparative analysis, highlights the gaps in Jordan’s arbitration framework and identifies lessons from the UAE’s balanced reform. It provides actionable recommendations for Jordan, including clarifying arbitrability, reducing court interference and harmonizing domestic laws with international arbitration norms, such as the New York Convention. These steps could enhance Jordan’s dispute resolution system, promote legal certainty and create a business-friendly environment. Thus, it encourages economic growth and international investments.
Findings
This study compares Jordan’s restrictive arbitration framework for commercial agency disputes with the UAE’s proactive reforms. The UAE’s 2022 legislative changes align its laws with international standards, balancing public policy considerations with arbitration autonomy, positioning it as a regional leader in dispute resolution. Conversely, Jordan’s framework suffers from ambiguities, excessive court reliance and limited application of the Kompetenz-Kompetenz principle, undermining arbitration’s effectiveness and discouraging investment. Key recommendations for Jordan include clarifying arbitrability, reducing judicial intervention and narrowing public policy considerations. Aligning with international standards would foster legal certainty, attract investments and promote Jordan as a hub for international commerce.
Practical implications
This study provides actionable insights for improving Jordan’s arbitration framework, addressing legal ambiguities and excessive court intervention in commercial agency disputes. By aligning domestic laws with international standards like the UNCITRAL Model Law and the New York Convention, Jordan can enhance legal certainty and arbitration’s effectiveness. Limiting judicial interference and clearly defining public policy considerations will create a more business-friendly environment. These reforms not only strengthen access to justice but also cross-border commerce. Learning from the UAE’s balanced approach, Jordan can position itself as a regional hub for efficient and reliable dispute resolution.
Originality/value
This research provides a unique contribution by highlighting the uncertainty surrounding the non-arbitrability of commercial agency disputes in Jordan, an area of significant legal importance that has yet to be thoroughly explored. By comparing Jordan’s approach with the UAE’s legislative framework before and after its 2022 reforms, the study offers a legal analysis of two civil law jurisdictions with similar legal traditions but differing approaches to arbitration in distribution disputes. The research sheds light on these contrasts, providing valuable insights into the evolving interplay between arbitration and commercial agency regulation in the region.
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Alexander Styhre and Rebecka Arman
Institutional theorists treat law and regulations as external factors that is part of the organization’s environment. While institutional theory has been criticized for its…
Abstract
Purpose
Institutional theorists treat law and regulations as external factors that is part of the organization’s environment. While institutional theory has been criticized for its inability to recognize the role of agents and to theorize agency, the growing literature on institutional work and institutional entrepreneurship, partially informed by and co-produced with practice theory, advances a more dynamic view of processes of institutionalization. In order to cope with legal and regulatory frameworks, constituting the legal environment of the organization, there are evidence of organizational responses in the form of bargaining, political negotiations, and decoupling of organizational units and processes. The purpose of this paper is to report how legal and regulatory frameworks both shape clinical practices while at the same time they are also informed by the activities and interests of professional communities and commercial clinics.
Design/methodology/approach
This paper reports an empirical study of the Swedish-assisted conception industry and is based on a case study methodology including the use of interviews and formal documents and reports issues by governmental agencies.
Findings
The empirical material demonstrates how scientists in reproductive medicine and clinicians regard the legal and regulatory framework as what ensures and reinforces the quality of the therapies. At the same time, they actively engage to modify the legal and regulatory framework in the case when they believe it would benefit the patients. The data reported presents one successful case of how PGD/PGS can be used to develop the efficacy of the therapy, and one unsuccessful case of regulatory change in the case of patient interest groups advocating a legalization of commercial gestational surrogacy. In the former case, scientific know-how and medicinal benefits served to “push” the new clinical practice, while in the latter case, the “demand-pull” of patient interest groups fails to get recognition in regulatory and policy-making quarters.
Originality/value
The study contributes to the literature on agency in institutional theory (e.g. the emerging literature on institutional work) by emphasizing how legal and regulatory frameworks are in a constant process of being modified and negotiated in the face of novel technoscientific practices and social demands. More specifically, this process include many scientific, technological, economic, political and social relations and resources, making the legal environment of organizations what is the outcome from joint negotiations and agreements across organizational and professional boundaries.
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Zakariya Mustapha, Sherin Binti Kunhibava and Aishath Muneeza
The purpose of this paper is to review the literature on Islamic finance vis-à-vis legal and Sharīʿah non-compliance risks in its transactions and judicial dispute resolution in…
Abstract
Purpose
The purpose of this paper is to review the literature on Islamic finance vis-à-vis legal and Sharīʿah non-compliance risks in its transactions and judicial dispute resolution in Nigeria. This is with a view to putting forward direction for future studies on the duo of legal and Sharīʿah non-compliance risks and their impact in Islamic finance.
Design/methodology/approach
This review is designed as an exploratory study and qualitative methodology is used in examining relevant literature comprising of primary and secondary data while identifying legal risk and Sharīʿah non-compliance risks of Nigeria’s Islamic finance industry. Using the doctrinal approach together with content analysis, relevant Nigerian laws and judicial precedents applicable to Islamic finance practice and related publications were examined in determining the identified risks.
Findings
Undeveloped laws, the uncertainty of Sharīʿah governance and enforceability issues are identified as legal gaps for Islamic finance under the Nigerian legal system. The gaps are inimical to and undermine investor confidence in Nigeria’s Islamic finance industry. The review reveals the necessity of tailor-made Sharīʿah-based regulations in addition to corresponding governance and oversight for a legally safe and Sharīʿah-compliant Islamic finance practice. It brings to light the imperative for mitigating the legal and Sharīʿah non-compliance risks associated with Islamic finance operations as crucial for Islamic finance businesses, Islamic finance institutions and their sustainable development.
Research limitations/implications
Based on content analysis, the review is wholly doctrinal and does not involve empirical data. Legal safety and Sharīʿah compliance are not to be compromised in Islamic finance operations. The review would assist relevant regulators and investors in Islamic financial enterprises to understand and determine the impact and potential ramifications of legal safety and Sharīʿah non-compliance on Islamic Finance Institutions.
Practical implications
This study provides an insight into the dimensions and ramifications of legal and Sharīʿah non-compliance risks of Nigeria’s Islamic finance industry. This study is premised on the imperative for research studies whose outcome would inform regulations that strike a balance between establishing Islamic financial institution/business and ensuring legal certainty and Sharīʿah compliance of their operations. This study paves way for this kind of research studies.
Originality/value
The findings and discussions provide a guide for regulators and researchers on the identification and mitigation of legal and Sharīʿah non-compliance risks in Islamic finance via a literature review. This study, the first of its kind in Nigeria, advances the idea that research into legal and Sharīʿah non-compliance risks of Islamic financial entities is key to mitigating the risks and fostering the entities and their businesses.
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Ghulam Mustafa, Waqas Rafiq, Naveed Jhamat, Zeeshan Arshad and Farhana Aziz Rana
This study aims to evaluate blockchain as an e-government governance model. It assesses its alignment with legal frameworks, emphasizing robustness against disruptions and…
Abstract
Purpose
This study aims to evaluate blockchain as an e-government governance model. It assesses its alignment with legal frameworks, emphasizing robustness against disruptions and adherence to existing laws.
Design/methodology/approach
The paper explores blockchain’s potential in e-government, focusing on legal, ethical and governance aspects. It conducts an in-depth analysis of blockchain’s integration into data governance, emphasizing legal compliance and resilient security protocols.
Findings
The study comprehensively evaluates blockchain’s implementation, covering privacy, interoperability, consensus mechanisms, scalability and regulatory alignment. It highlights governance’s critical role in ensuring legal compliance within blockchain paradigms.
Research limitations/implications
Ethical and legal concerns arising from blockchain adoption remain unresolved. The study underscores how blockchain challenges its core principles of anonymity and decentralization in e-government settings.
Practical implications
The framework outlined offers potential for diverse technological environments, albeit raising ethical and legal queries. It emphasizes governance’s pivotal role in achieving legal compliance in blockchain adoption.
Social implications
Blockchain’s impact on legal and ethical facets necessitates further exploration to align with its core principles while addressing governance in e-government settings.
Originality/value
This study presents a robust framework for assessing blockchain’s viability in e-government, emphasizing legal compliance, despite ethical and legal intricacies that challenge its fundamental principles.
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Yusto Lucian Habiye, Rajendra Parsad Gunputh and Sameerchand Pudaruth
Sustainable development necessitates balancing economic growth, social inclusion and environmental protection to meet present needs without compromising future generations. The 17…
Abstract
Purpose
Sustainable development necessitates balancing economic growth, social inclusion and environmental protection to meet present needs without compromising future generations. The 17 United Nations Sustainable Development Goals (SDGs) provide a global framework to address these challenges. This study aims to explore how optimizing corporate insolvency legal frameworks in Tanzania and Mauritius can contribute to sustainable development, focusing specifically on the intersection of insolvency law and sustainability.
Design/methodology/approach
The study adopts a qualitative research methodology, integrating Creditors’ Bargain Theory and Communitarian Theory to analyze insolvency frameworks. The Creditors’ Bargain Theory emphasizes the importance of creditors’ rights in insolvency proceedings, whereas Communitarian Theory highlights broader societal impacts. The research is based on an extensive literature review of 59 academic sources, legal texts and reports, complemented by primary data collected through surveys involving at least 20 legal experts, insolvency practitioners, academics and researchers from both jurisdictions. Data was analysed to identify key themes, strengths, weaknesses and best practices within the existing legal frameworks of Tanzania and Mauritius.
Findings
The study identifies significant disparities between the insolvency frameworks in Tanzania and Mauritius. Tanzania’s framework is encumbered by outdated laws and high burdens of proof for insolvency claims, while Mauritius has a more streamlined process but contends with the misuse of statutory demands. Both countries require reforms to address preferential claims and improve regulatory oversight of insolvency practitioners. The study highlights the need to prioritize consumer claims, set minimum thresholds for statutory demands and ensure equitable treatment of creditors. It further emphasizes enhancing regulatory frameworks, particularly in Tanzania, where insolvency practitioners operate without comprehensive guidelines, in contrast to Mauritius’s more robust system.
Originality/value
This study offers a unique comparative analysis of how insolvency frameworks in Tanzania and Mauritius can be reformed to align with sustainable development objectives. It provides valuable insights into how legal reforms, including the introduction of penalties and enhancement of practitioner qualifications, can contribute to more sustainable economic practices.
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Yusuff Jelili Amuda and Shahad Ahmed Al-Nasser
The primary aim of this study is to explore challenges and prospects of Islamic banking system in non-Muslim states to foster regulatory frameworks of the system.
Abstract
Purpose
The primary aim of this study is to explore challenges and prospects of Islamic banking system in non-Muslim states to foster regulatory frameworks of the system.
Design/methodology/approach
Content analysis as an integral part of qualitative research was used. Secondary data through the exploration of cursory literature was taken into consideration.
Findings
The findings identified three prime challenges, namely, regulatory, operational and institutional, which are impeding the smooth activities and performances of Islamic banks in using innovative Islamic products and services that can favourably compete with products and services of conventional banking system in non-Muslim states. In addition, strengthening the adoption and performance of Islamic banking in non-Muslim states can efficiently and effectively address the identified and multifarious regulatory, operational and institutional challenges to achieve financial inclusion and overall economic growth.
Research limitations/implications
Challenges encountered and prodigies or potentials of operating Islamic banking system by most of non-Muslim countries remains a pivotal aspect that needs research attention in the recent.
Practical implications
Nonetheless, the limitation of this study is that the study relies on the use of secondary data. However, it has provided a substantial direction for future studies in empirically exploring the variables of this study.
Social implications
Indeed, 19th century was a remarkable turning point in the development and expansion of Islamic banking system in the Muslim world. Many predominant Muslim countries such as Malaysia, Indonesia, Saudi Arabia, Bangladesh, Pakistan, among others have been efficiently and effectively operating Islamic banking system within the framework of Islamic legal provisions. Many non-Muslim countries such as Australia, the UK, USA, etc., have also adopted Islamic banking system.
Originality/value
It is noted that policy directions of the study among others should address the regulatory frameworks that is Shari’ah-compliant in the operation of Islamic banking system in non-Muslim states. It is therefore suggested that the policymakers, Islamic financial experts and regulators should use the innovation that could bring competitiveness into the operation of Islamic banking system in non-Muslim states.
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Samuel Owusu Asare, Godfred Fobiri and Francis Kwesi Bondinuba
Ghana’s legal framework for procurement has undergone substantial reform to increase its efficacy. However, disregard for legal obligations set forth has resulted in issues of…
Abstract
Purpose
Ghana’s legal framework for procurement has undergone substantial reform to increase its efficacy. However, disregard for legal obligations set forth has resulted in issues of fraud, corruption and poor oversight. This study seeks to synthesize literature on the recognition of legal obligations arising from tendering procedures and measures to promote fairness, transparency and accountability under Ghana’s procurement framework.
Design/methodology/approach
Legal frameworks and publications from diverse countries have been synthesized using a systematic literature review across three databases (Scopus, JSTOR and HeinOnline) to illuminate key concepts, issues and best practices relevant to the study. Data obtained from included publications was synthesized using Sandelowski and Barroso’s two-step approach by using a qualitative meta-summary and thematic synthesis.
Findings
The study reveals that issues of conflict of interest, corruption, lack of capacity, inadequate oversight and insufficient legal follow-through hinder the effectiveness of procurement regulations. The findings highlight the need for targeted improvements in resource allocation for consistent application of transparency measures, regular publication of notices and robust enforcement of accountability mechanisms. The report proposes the creation of a common data environment for networking and information dissemination, implementing feedback systems and trust rating schemes.
Practical implications
The study contributes to the body of knowledge on procurement regulation by providing a thorough analysis of Ghana’s procurement framework. The findings will help policymakers close the observed implementation gaps by guiding the revision of current legislation and the introduction of new regulations. Research findings can be used to guide the creation of focused training courses.
Originality/value
This study, one of the first of its kind in Ghana, examines the current procurement framework, including legal obligations and implementation challenges. It contributes to the body of knowledge on the subject by providing a current and fact-based analysis as well as relevant recommendations for strengthening the framework.
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This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration…
Abstract
Purpose
This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration in investment disputes: A. Multilateral legal framework. B. Bilateral legal framework/Investment promotion and protection agreementsTypes of arbitration in investment disputes. The Egyptian experience in investment disputes arbitration. The National legal framework. Egypt on the map of investment disputes in the world. A case study. Conclusion: Results related to the legal framework regulating investment disputes in Egypt. Results related to The arbitration cases against Egypt.
Design/methodology/approach
The researcher investigates the subject of international arbitration in investment disputes in the framework of voluntary theory, which is based on the premise that the satisfaction of people who are addressing the international legal norm is the basis of the same rule. In other words, the basis of international law is based on the satisfaction of the State and other international legal persons Both, and then express or implied consent.
Findings
Despite the availability of domestic and regional arbitration mechanisms in Egypt represented by a large number of cases.
Research limitations/implications
The theme for the study primarily on Egypt and the international arbitration of investment disputes, through theoretical and practical study of disputes arbitration which Egypt is a party defendant in which to focus on what was issued in which the provisions of the International Center for Settlement of Investment Disputes, in an attempt to find out the reasons for the verdicts image released it, where it came mostly against Egypt, and whether these judgments against them in investment disputes due to reasons related to the legal framework of the arbitration process, or for reasons of bodies of arbitration issued by those provisions, or to the defense, which represents the Egyptian party, or to the circumstances Economic and political (which represents the investment climate).
Originality/value
The proposed solutions to improve the conditions and factors surrounding the arbitration disputes that Egypt is waging against foreign investors, whether they are initially alleged or accused of drafting agreements and contracts, through amending the relevant legislation and laws, selecting arbitration bodies and defense bodies.
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Engku Rabiah Adawiah Engku Ali and Umar A. Oseni
In propelling Malaysia to become a high value-added and high-income economy by 2020, the Central Bank of Malaysia has consistently emphasized the need for a new trajectory of…
Abstract
Purpose
In propelling Malaysia to become a high value-added and high-income economy by 2020, the Central Bank of Malaysia has consistently emphasized the need for a new trajectory of transformation and growth which will leverage on a robust legal framework that for enhancing Islamic financial transactions. This paper aims to examine the latest major policy initiatives and legal reforms introduced to promote both local and cross-border transactions that seek to project Malaysia as a hub for Islamic financial transactions.
Design/methodology/approach
While adopting an analytical approach in analysing the relevant issues, the study relies on doctrinal legal method in highlighting major reforms introduced to enhance the legal and regulatory framework of Islamic finance.
Findings
The study finds that the importance of law reforms in strengthening the financial system cannot be overemphasized, particularly when it comes to the need for an end-to-end Sharīʿah compliance framework and consumer protection.
Practical implications
Other emerging jurisdictions aspiring to adopt Islamic finance products can learn from the Malaysia’s pioneering role in introducing an effective legal and regulatory framework.
Originality/value
Though there are a number of studies on Malaysia’s leading role in the law and regulation of Islamic finance, this study is one of the earliest attempts to explore the role of the Central Bank of Malaysia in enhancing the legal framework for Islamic financial transactions through the introduction of the Islamic Financial Services Act 2013 and other relevant policy regulations.