The Evolution of Islamic Banking Cases in Malaysia

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September 17, 2008
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The Evolution of Islamic Banking Cases in Malaysia

Assalamualaikum,

Dear all,

With reference to the recent case of Arab Malaysian Finance Berhad v Taman Ihsan Jaya Sdn Bhd & Ors (Suit No: D4-22A-067-2003) in the High Court of Malaya, Muamalat Bench, I believe that the judgment made by Y.A. Dato Wahab Patail in this case may change and affect the Islamic banking approach in Malaysia particularly on the extreme utilisation of debt-based financing instruments. I have identified several reported cases pertaining to Islamic banking from 1987-2008 for references.

  1. Tinta Press Sdn Bhd v BIMB (1987) 1 CLJ 474
  2. Bank Islam Malaysia Berhad v. Adnan Omar [1994] 3 CLJ 735; [1994]3 AMR 44
  3. Dato’ Nik Mahmud Bin Daud v. Bank Islam Malaysia Berhad [1996]4 MLJ 295
  4. Bank Kerjasama Rakyat Malaysia Bhd v. Emcee Corporation Sdn. Bhd. (2003) 1 CLJ 625
  5. Bank Islam Malaysia Bhd v. Pasaraya Peladang Sdn Bhd. [2004] 1 LNS 280
  6. Arab Malaysian Merchant Bank Bhd. v. Silver Concept Sdn Bhd [2005] 5 MLJ 210
  7. Malayan Banking Bhd v. Marilyn Ho Siok Lin [2006] 3 clj 796
  8. Affin Bank Berhad vs Zulkifli Abdullah (2006) 1 CLJ 447
  9. Malayan Banking Bhd v Yakup bin Oje & Anor [2007] 6 MLJ 398
  10. The recent case of Arab Malaysian Finance Berhad v Taman Ihsan Jaya Sdn Bhd & Ors (Suit No: D4-22A-067-2003)

Enjoy reading!

BEST REGARD
ZULKIFLI HASAN
UNIVERSITY OF DURHAM


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  • 0 Comments

    1. cencurut says:

      Yup, I believe the amount should not reflect the full settlement, rather than pro-rated amount. By the way, when bank implement BBA, the full amount for deferred payment should not be more than 1 times of the real asset value. If this happen, it might be argued as a RIBA.

    2. ADI says:

      this case had been overruled by the appealed court yesterday..Appealed by the Banks are allowed by the appeal court

    3. erin says:

      salam..actually i need your help if you have the case regarding suhaimi md hashim v bank (i not remember which bank) the issue is ‘date of trial’
      if you have it, i hope you can sent by my email.
      Tq

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