Reference no: EM13895147

• What is the difference between law and regulation?

• What is the legal definition of money in terms of property? (What about electronic money?)

• Which laws affect the activities that financial institutions can undertake?

• Should laws govern morality and ethics?

• Can regulations be used to induce ethical behavior?

• Is Islamic society defined only by Islamic law or it is more than that?

• Is there any difference between a conventional contract from Islamic contract?

• What are the legal and accounting implications of transfer of property and possession during contemporary times?

• Can the principle of permissibility be applied to adopting contemporary Western commercial laws?

• Are the traditional nominate contracts sufficient to satisfy contemporary financial needs or there is a need to re-define fundamental concepts in Islamic contract law?

• Is the legal culture for Islamic law different from the Western legal culture?

- What are the implications of adopting a legal system with a different legal culture?

• Is having an Islamic banking law a necessary condition for the growth of Islamic finance?

- Is it different for a common law and civil law country?

• Can Islamic banking law be considered Islamic commercial law (Fiqh Al-muamulat, i.e. or Islamic jurisprudence of transactions)?

• What issues can arise in application of Islamic finance in any Middle Eastern country's jurisdictions?