Islamic finance in Singapore: legal and regulatory challenges

Islamic finance in Singapore: legal and regulatory challenges

Islamic finance has grown tremendously since its first revival in the 1970s. Strong support from Muslims and non-Muslims resulted in a market estimated to be around USD1.6 trillion. It is still growing at 15 percent to 20 percent per year, making it one of the fastest growing sectors in the finance...

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Bibliographic Details
Main Author: Zul Kepli, Mohd Yazid
Format: Article
Language:English
Published: National University of Singapore 2013
Subjects:
K Law (General)
Online Access:http://irep.iium.edu.my/35155/
http://irep.iium.edu.my/35155/
http://irep.iium.edu.my/35155/1/SLR.pdf
id iium-35155
recordtype eprints
spelling iium-351552018-05-21T07:27:44Z http://irep.iium.edu.my/35155/ Islamic finance in Singapore: legal and regulatory challenges Zul Kepli, Mohd Yazid K Law (General) Islamic finance has grown tremendously since its first revival in the 1970s. Strong support from Muslims and non-Muslims resulted in a market estimated to be around USD1.6 trillion. It is still growing at 15 percent to 20 percent per year, making it one of the fastest growing sectors in the finance industry globally. In recognition of the global trend, Singapore decided to make the best out of it. As Senior Minister Goh Chok Tong described it, “Singapore cannot be a complete international financial centre, if we do not offer Islamic financial services.” This article analyzes the characteristics of Islamic finance, the benefits and obstacles it brings, as well as its development and progress in Singapore. This article concludes with the challenges and possible solutions from the legal and regulatory aspects. National University of Singapore 2013 Article PeerReviewed application/pdf en http://irep.iium.edu.my/35155/1/SLR.pdf Zul Kepli, Mohd Yazid (2013) Islamic finance in Singapore: legal and regulatory challenges. Singapore Law Review , 31. pp. 279-301. ISSN 0080-9691 http://www.singaporelawreview.org/
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic K Law (General)
spellingShingle K Law (General)
Zul Kepli, Mohd Yazid
Islamic finance in Singapore: legal and regulatory challenges
description Islamic finance has grown tremendously since its first revival in the 1970s. Strong support from Muslims and non-Muslims resulted in a market estimated to be around USD1.6 trillion. It is still growing at 15 percent to 20 percent per year, making it one of the fastest growing sectors in the finance industry globally. In recognition of the global trend, Singapore decided to make the best out of it. As Senior Minister Goh Chok Tong described it, “Singapore cannot be a complete international financial centre, if we do not offer Islamic financial services.” This article analyzes the characteristics of Islamic finance, the benefits and obstacles it brings, as well as its development and progress in Singapore. This article concludes with the challenges and possible solutions from the legal and regulatory aspects.
format Article
author Zul Kepli, Mohd Yazid
author_facet Zul Kepli, Mohd Yazid
author_sort Zul Kepli, Mohd Yazid
title Islamic finance in Singapore: legal and regulatory challenges
title_short Islamic finance in Singapore: legal and regulatory challenges
title_full Islamic finance in Singapore: legal and regulatory challenges
title_fullStr Islamic finance in Singapore: legal and regulatory challenges
title_full_unstemmed Islamic finance in Singapore: legal and regulatory challenges
title_sort islamic finance in singapore: legal and regulatory challenges
publisher National University of Singapore
publishDate 2013
url http://irep.iium.edu.my/35155/
http://irep.iium.edu.my/35155/
http://irep.iium.edu.my/35155/1/SLR.pdf
first_indexed 2023-09-18T20:50:30Z
last_indexed 2023-09-18T20:50:30Z
_version_ 1777409961785032704

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