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Articles 1 - 12 of 12
Full-Text Articles in Law
Credit Cards
UAEU Law Journal
Credit cards are widely usedall over the world. Theyalmost have replaced currencies in transactions, payments, and in the fulfillmentall types of financialcommitments.
Credit card is an authorization from a bank to the holder of the card, which permits the holder pay for transactions, withdrawing cash and obtaining services.
Various types of credit cards are issued by banks (including Islamic banks) to their customers:
-Regular cards whichallow the holders to pay directly for transactions from his/ her account it is a payment method.
-Cards which do not require the holder to have credit or cash in the account. Interests are charged …
Shari'a, Financial Institutions' Auditing Manual
Shari'a, Financial Institutions' Auditing Manual
UAEU Law Journal
Auditing Islamic, financial institutions by Shari'a is a relatively new industry; thus, there is an urgent need for established rules and theories in order to make it a more stable field. This research shows the extent to which the auditing industry needs to prepare an internal auditing procedure manual.
In the first section of this study, the researcher defines the term "internal auditing procedure." Then, he briefly discusses the legality of auditing and its divisions. In the second section, the researcher draws the parameters of the internal auditing procedure manual; then he mentions the most important procedures that the auditor …
The Bank Civil Liability Regarding Consumer Loans Toward Debtor: A Study Based On Kuwaiti And French Law
UAEU Law Journal
Long ago, the French courts did not hesitate in recognizing the bank's liability toward its debtor based upon its failure to warn the debtor especially when the loan did not fit the debtor's financial ability. As a result of that judicial precedent, the French legislature, recently, adopted the bank's responsibility towards its debtor in providing the loan in the Consumer Protection Act. Therefore, when a contract is concluded between a professional and a consumer (Consumer Loan Contract), the bank is obliged to clarify all financial details to a consumer (debtor). In addition, the bank is obliged to verify the consumer's …
Bank Recourse To The Beneficiary Post Implementation Irrevocable Documentary Letter Of Credit Contract )A Comparative Study(, Abdullah Khalid Al-Sofani
Bank Recourse To The Beneficiary Post Implementation Irrevocable Documentary Letter Of Credit Contract )A Comparative Study(, Abdullah Khalid Al-Sofani
UAEU Law Journal
It is hard to imagine, at least materially, that either of the business transaction parties adhere to his/her commitments spontaneously. This is due to the fears inflicted on both parties, which consequently resulted in the creation of distrust between both parties. Therefore, it was better to devise a method represented by legal and institutional forms that will ensure availing guarantees for two remotely separated persons in terms of place. Thus, each party will start implementing his/her obligations with no fear of the non fulfillment of the other party.
For these reasons, and in connection with the documents, the documentary letter …
The “Tawaruq” Method As Conducted By Islamic Banks, Maen Saoud Abu Bakr
The “Tawaruq” Method As Conducted By Islamic Banks, Maen Saoud Abu Bakr
UAEU Law Journal
This research aimed at identifying the Islamic ruling regarding both types of Al-Tawarruq. The old “Tawaruq”, which was debated and agreed upon by ancient Islamic jurists and the new type of “Tawaruq” which is adopted by the banking systems today as an alternative to interest-based services. In addition, the research aimed to explore the fundamental nature and the main features of “Tawaruq” adopted by the banking systems and the one relevant to Islamic Fiqh.
To achieve this objective, the researcher analyzed the sayings and documents relevant to “Al Tawaruq” in Islamic Fiqeh objectively without prejudice. The research revealed that fiqeh …
Legal Description Of Credit Card
Legal Description Of Credit Card
UAEU Law Journal
In traditional means, payment needs only two parties. In the case of ordinary money, two persons only appear in the payment process, namely the creditor & the debtor in the deal without the intervention of the central bank that issued the money. The central bank is not considered a third party in the payment process and its role is limited to securing accepting the money in payment without having any direct intervention.
However, payment through credit card is different for there are three main parties in the relation, namely the trader, the consumer & the source. Three interrelated relations that …
Banking Secrecy In Qatari Law, Mohd. Abdulaziz S M Al-Khulaifi
Banking Secrecy In Qatari Law, Mohd. Abdulaziz S M Al-Khulaifi
UAEU Law Journal
Law has supreme objectives. The main one is protecting the human rights, their interests and their souls. And to accomplish those Desired Goals, law is taking different actions which vary according to the nature of the interests and rights. It may resort to protect one of the rights by publicity, as in the case of publication and registration in certain records for companies And real estate. In the other hand, it can resort to use the concept of confidentiality in transactions as a legal means to protect the rights and interests of people. A person who hires a lawyer to …
Protection Of The Rights Of The Creditors And The Debtor In The Process Of Financial Reorganization And Structuring Of Troubled Companies: A Comparative Study On The 2016 Uae Bankruptcy Law, French And American Legislations, Alaa Khasawneh
UAEU Law Journal
This study deals with the protection of creditors and the debtor in accordance with the methods of saving and assisting troubled companies approved by the UAE Act of bankruptcy of 2016, as the legislator of the UAE in this law aimed to solve the difficulties faced by troubled companies and to protect them from bankruptcy and its negative consequences, This means raises problems about the extent of the protection afforded to the creditors compared to that afforded to the interests of the debtor, where legislator treated it with special care and subjected to special procedures differ from bankruptcy proceedings, and …
Liquidity Management In Islamic Banks, Abduljabbar Al-Sabhany
Liquidity Management In Islamic Banks, Abduljabbar Al-Sabhany
UAEU Law Journal
Liquidity management is concerned with the ability of the bank to finance the increase in its assets and to meet its obligations in cash on time without incurring unusual costs. Traditional banking has developed a contractual structure, a legislative environment and a set of financial instruments that enable commercial banks to achieve this requirement easily. The problematic of research lies in the difference of the nodal structure of Islamic banks, the shortage of their financial instruments, and in the lack of consistency of their activity with the legislative environment governing it. The study examined the mechanisms of liquidity management and …
The Bank Is A Guarantor To Fulfill The Use Of Electronic Cards, Dr. Karima Karim
The Bank Is A Guarantor To Fulfill The Use Of Electronic Cards, Dr. Karima Karim
UAEU Law Journal
There are many guarantees of using modern payment methods, especially the electronic card: whether before using it – the conditions of obtaining - or even when used. Which is mainly related to the intervention of the bank, who puts it at the disposal of its customers as a result of the relationship between them, and is obliged to guarantee the payment as a result of their use depending on the banking norms governing its dealing. Because of its commitment to independence, abstraction and irreversibility, the Bank is the best guarantor to fulfill the use of electronic cards. Keywords: E-card; Bank; …
Protecting The Investor In The Promotional Operations Of Financial Products: An Analytical Study Within The Framework Of The Legislation Of The Securities And Commodities Market Authority In The United Arab Emirates, Dr. Rasha Hattab, Dr. Ahmed Qasim Farah
Protecting The Investor In The Promotional Operations Of Financial Products: An Analytical Study Within The Framework Of The Legislation Of The Securities And Commodities Market Authority In The United Arab Emirates, Dr. Rasha Hattab, Dr. Ahmed Qasim Farah
UAEU Law Journal
The Decision of the Emirates Securities and Commodities Authority No. (3/R. M) of 2017 concerning the Regulation of Promotion and Introduction Activities represent an important stage in the development of the regulatory regime of promotion of financial products in the UAE. This Decision complete the previous Decision No. (9/R. M) of 2016 concerning Mutual Funds which determinates the conditions for the promotion of Foreign investment Funds. The main problematic of this study is to determine whether the legal rules governing the promotion of financial products in UAE legislation provide adequate protection to the targeted investors. Several other problematics are related …
An Outlook For Employing The "Initial Coin Offering" (Ico) For The Issuance Of "Islamic Smart Sukuk" Across The Blockchain, Dr. Mohiuddin Adnan Al-Hajjar
An Outlook For Employing The "Initial Coin Offering" (Ico) For The Issuance Of "Islamic Smart Sukuk" Across The Blockchain, Dr. Mohiuddin Adnan Al-Hajjar
UAEU Law Journal
The Blockchain introduced new concepts related to the field of finance especially by giving birth to cryptocurrencies. This technical tool is for some a revolution in the business world, while other conservatives are careful about this new technology. Among its various applications, ICO represent an attractive solution for companies seeking capital. The Islamic orientation of ICO can be an alternative for Islamic financing of projects and businesses to the general public, i.e. companies or individuals. Our analytical and comparative approach is to prove that: - The issue via an ICO results in the appearance of a Token representing the co-ownership …