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image Introduction to Risk Management in Islamic Banking – Basel II Compliance.
Event date: - 2012-12-07
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Did you know there there is now a set of arbitration rules that cater to both conventional and Shariah-compliant commercial transactions and agreements?

Islamic finance industry players might want to consider arbitration, as an alternative to litigation, to resolve their disputes under the Kuala Lumpur Regional Centre for Arbitration (KLRCA) i-Arbitration Rules, which was launched at the Global Islamic Finance Forum (GIFF) 2012 in Kuala Lumpur, Malaysia, on 20 September 2012.

The Rules is the first set of arbitration rules in the world that adopts the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules, while allowing for the resolution of disputes arising from any contract that may contain Shariah issues. It provides an effective and enforceable dispute resolution platform for international Islamic commercial transactions. Arbitral awards under the KLRCA i-Arbitration Rules will be enforceable in the 146 countries that are signatories to the New York Convention.

It not only covers Islamic banking and finance but can also be used for international commercial arbitration in other sectors, such as construction, maritime, and oil and gas.

You can view the complete KLRCA i-Arbitration Rules here.
The KLRCA i-Arbitration Rules was also featured recently in Global Arbitration Review. To read the article, please click here.

For more information, visit www.klrca.org.my or email

No. 12, Jalan Conlay
50450 Kuala Lumpur
Tel: +603 – 21420103
Fax: +603 – 2142 4513
Website: www.klrca.org.my


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