The enactment of the Islamic Financial Services Act 2013 (IFSA 2013) has marked an exceptional milestone in the development of the domestic Islamic financial industry. With a strong industrial bedrock created over 30 years,Malaysia has yet again pioneered the enabling legislative reformation vital for industrial fluidity and harmonisation.While the Act caters to all regulatory and supervisory aspects of the industry, this book aims to provide a succinct commentary on the provisions within the Islamic Banking parameters, As the nature of legislative demands change from a detailed and prescriptive approach to one which is principle- based, this book provides a perfect companion to assist readers in understanding and navigating the current legislative maze

Since its emergence, the phenomenal growth of the Islamic Banking and Finance industry has been experienced by most countries which have sought to develop it. its rapid global growth has generate many question about its conceptual basis and ethics in different jurisdictions. Many end-users, however, have now become critical about the foundations of Islamic Banking and finance, and by necessary extension, about its products and facilities. The number of cases and disputes brought before the court of law, questioning the legality of these products, and the diverse and at times conflicting decisions by judge thereon., is but one indicator as to how fast or how far thoughts, perceptions and understanding about Islamic banking and finance have advanced and metamorphosed.