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The International Shari’ah Research Academy for Islamic Finance (ISRA) and Thomson Reuters, the world's leading provider of intelligent information for businesses and professionals today launched an inaugural joint publication on Islamic Commercial Law Report 2016.
The Islamic Commercial Law Report 2016 was launched by the Deputy Minister, Prime Minister’s Department YB Senator Dato’ Dr Asyraf Wajdi Dato’ Dusuki at the International Shari’ah Scholars Forum (ISSF), organised by ISRA and the Islamic Research and Training Institute (IRTI) in Westin Hotel, Kuala Lumpur on 3 November 2015.
The Islamic finance industry has witnessed exponential growth over the last three decades, and has become one of the fastest growing segments of the global financial industry with estimates of the current market size ranging from $1.66 trillion to $2.1 trillion. One key factor that has contributed to this progressive development is the flexible nature of Islamic commercial law, which has imbued Islamic finance with the same core characteristic of flexibility, as the legal maxim says: “the original ruling in Islamic financial transactions is permissibility”.