Email this article Islamic Law in the jurisdiction of International Financial Centers: comparative legal analysis
- Authors: Didikin A.B.1
-
Affiliations:
- Institute of State and Law, Russian Academy of Sciences
- Issue: Vol 7, No 1 (2020)
- Pages: 78-85
- Section: International law
- URL: https://journal-vniispk.ru/2410-7522/article/view/33910
- DOI: https://doi.org/10.17816/RJLS33910
- ID: 33910
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Abstract
The article analyzes the modern mechanisms and ways of adapting the Islamic law principles and norms to the regulation of financial relations. Taking into account the significance of fiqh as a legal doctrine that interprets religious prescriptions for law enforcement, the key features of the Islamic law institutions in the context of the Islamic economy model development are identified. The object of the comparative legal analysis in the article is the jurisdiction of international financial centers as territories with a special legal regime for conducting business. Its legal status is fixed in special legal acts, thus contributing to the formation of flexible instruments of legal regulation in view of the correlation with the norms of the national legal order. International financial centers are presented as an example of the formation of global legal institutions in Western countries as well as those in Southeast Asia and the Middle East. The author argues that Islamic finance—as a way of adapting Islamic law principles to the regulation of business activities—is a mandatory element of a legal environment for international financial centers.
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##article.viewOnOriginalSite##About the authors
Anton B. Didikin
Institute of State and Law, Russian Academy of Sciences
Author for correspondence.
Email: abdidikin@bk.ru
Doctor of Philosophy, PhD in Law, Head of the Department, Leading Researcher of the Department of Legal Philosophy, Legal History and Legal Theory
Russian Federation, MoscowReferences
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