Publication:
Harmonisation of contract law: how far have we gone - and where are we going?
Abstract
The law of contract is a significant area of commercial law, which is a substantive law. Common law principles of contract law are used in many countries in the world especially by those countries that were British colonies. This is the case in Muslim countries as well. Since the sixteenth century, Muslim countries were ruled by the British, and since then, the Islamic legal system in these countries slowed its progress, and the application of English law became a common practice up until today. Islamic law's application was reduced to personal matters of Muslims. However, due to the institutionalisation of Islamic finance, the adoption and application of Islamic law in commercial transactions have been revived, and research in this regard has gained momentum. For the sake of sustainable development of Islamic finance globally, law harmonisation between Islamic law and common law has been viewed as an important aspect that requires attention.
Keywords
Contract law , Muslim countries , Islamic law , Islamic finance
Citation
Muneeza, A. (2022). Harmonisation of contract law: how far have we gone - and where are we going? In A. Trakic (Ed.), Shari'ah and common law: the challenge of harmonisation (pp. 11-31). De Gruyter.
Publisher
De Gruyter