Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia

In order to keep the cost of settling disputes low and standards for grievance remedial methods high, access to justice is paramount in today’s fast pace commercial transactions in the digital world. In Malaysia, the successes recorded in the Islamic banking industry do not just flourish without som...

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Main Author:	Oseni, Umar Aimhanosi
Format:	Article
Language:	English English
Published:	Routledge - Taylor & Francis Group 2015
Subjects:	HG1501 Banking K Law (General) T10.5 Communication of technical information
Online Access:	http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/2/Banking_on_ICT_-_The_relevance_of_online_dispute_resolution_in_the_IF_Indusrty.pdf http://irep.iium.edu.my/46895/7/46895_banking_on_ICT_scopus.pdf

id	iium-46895
recordtype	eprints
spelling	iium-468952019-10-16T08:42:41Z http://irep.iium.edu.my/46895/ Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia Oseni, Umar Aimhanosi HG1501 Banking K Law (General) T10.5 Communication of technical information In order to keep the cost of settling disputes low and standards for grievance remedial methods high, access to justice is paramount in today’s fast pace commercial transactions in the digital world. In Malaysia, the successes recorded in the Islamic banking industry do not just flourish without some consequential challenges such as the increasing rate of disputes involving Islamic financial products and services. Though the number of widely reported cases heard and determined by the courts between 1985 and 2010 are about 20, the Financial Mediation Bureau seems to be more active in dispute resolution in the industry. This study seeks to explore the relevance of such mechanism that would use five distinct but connected modules for dispute settlement. This pioneering research introduces a new dimension in the sustainability of the economy by leveraging the state-of-the-art information and communication technology (ICT) in resolving banking disputes in the Islamic finance industry in Malaysia. Exploring the relevance of such online dispute resolution platform for Islamic finance disputes will serve as a launch pad for further studies that will involve the design and application of such technology in the Islamic finance industry. Routledge - Taylor & Francis Group 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/46895/2/Banking_on_ICT_-_The_relevance_of_online_dispute_resolution_in_the_IF_Indusrty.pdf application/pdf en http://irep.iium.edu.my/46895/7/46895_banking_on_ICT_scopus.pdf Oseni, Umar Aimhanosi (2015) Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia. Information and Communications Technology Law, 24 (2). pp. 205-223. ISSN 1360-0834 (P) 1469-8404 (O) http://www.tandfonline.com/doi/full/10.1080/13600834.2015.1067968#abstract 10.1080/13600834.2015.1067968
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG1501 Banking K Law (General) T10.5 Communication of technical information
spellingShingle	HG1501 Banking K Law (General) T10.5 Communication of technical information Oseni, Umar Aimhanosi Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
description	In order to keep the cost of settling disputes low and standards for grievance remedial methods high, access to justice is paramount in today’s fast pace commercial transactions in the digital world. In Malaysia, the successes recorded in the Islamic banking industry do not just flourish without some consequential challenges such as the increasing rate of disputes involving Islamic financial products and services. Though the number of widely reported cases heard and determined by the courts between 1985 and 2010 are about 20, the Financial Mediation Bureau seems to be more active in dispute resolution in the industry. This study seeks to explore the relevance of such mechanism that would use five distinct but connected modules for dispute settlement. This pioneering research introduces a new dimension in the sustainability of the economy by leveraging the state-of-the-art information and communication technology (ICT) in resolving banking disputes in the Islamic finance industry in Malaysia. Exploring the relevance of such online dispute resolution platform for Islamic finance disputes will serve as a launch pad for further studies that will involve the design and application of such technology in the Islamic finance industry.
format	Article
author	Oseni, Umar Aimhanosi
author_facet	Oseni, Umar Aimhanosi
author_sort	Oseni, Umar Aimhanosi
title	Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
title_short	Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
title_full	Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
title_fullStr	Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
title_full_unstemmed	Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia
title_sort	banking on ict: the relevance of online dispute resolution in the islamic banking industry in malaysia
publisher	Routledge - Taylor & Francis Group
publishDate	2015
url	http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/ http://irep.iium.edu.my/46895/2/Banking_on_ICT_-_The_relevance_of_online_dispute_resolution_in_the_IF_Indusrty.pdf http://irep.iium.edu.my/46895/7/46895_banking_on_ICT_scopus.pdf
first_indexed	2023-09-18T21:06:45Z
last_indexed	2023-09-18T21:06:45Z
_version_	1777410983959986176

Banking on ICT: The relevance of online dispute resolution in the islamic banking industry in Malaysia

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