THE ESTABLISHMENT OF THE SHARĪᶜAH ADVISORY COUNCIL OF CENTRAL BANK OF MALAYSIA: SPECIAL REFERENCE TO SECTION 51 OF CENTRAL BANK OF MALAYSIA ACT 2009 (ACT 701)

Sharīᶜah Advisory Council which established under the aegis of the Central Bank of Malaysia (CBM), is designated as the highest authoritative body for the ascertainment of Sharīᶜah ruling in the matters of Islamic financial business. This apex advisory council is currently regulated by the Central Bank of Malaysia Act 2009. Hence the establishment of this council is pursuant to the statutory requirement. This article seeks to analyse the statutory requirement of Section 51 pertaining to the establishment of the Sharīᶜah Advisory Council of Central Bank of Malaysia. This is doctrinal legal research with the qualitative method. The primary data of statutory provisions were scrutinized by using the method of content analysis. The study found that there are several deficiencies of the provision in dealing with the establishment of Sharīᶜah Advisory Council pertaining to the legal interpretation, the legal basis for the establishment of Sharīᶜah Advisory Council, the procedures to be adopted and the position of the Sharīᶜah Advisory Council within Central Bank of Malaysia’s Organization Structure. Finally, the article suggests several amendments be made by respective authorities in order to strengthen the legal aspect of the establishment of Sharīᶜah Advisory Council of Central Bank of Malaysia.

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THE APPOINTMENT OF MEMBERS TO THE SHARIAH ADVISORY COUNCIL OF CENTRAL BANK OF MALAYSIA: LEGAL ISSUES

UUM Journal of Legal Studies ◽

10.32890/uumjls.8.2017.4648 ◽

2017 ◽

Author(s):

Mohammad Azam Hussain ◽

Rusni Hassan ◽

Alias Azhar ◽

Aznan Hasan

Keyword(s):

Central Bank ◽

Research Methodology ◽

Analytical Method ◽

Islamic Law ◽

Legal Issues ◽

Advisory Council ◽

Islamic Finance ◽

Legal Research ◽

Statutory Requirement ◽

The Future

Abstract: In Malaysia, the appointment of members to the Shariah Advisory Council (SAC) of the Central Bank of Malaysia (CBM) is prescribed by the Central Bank of Malaysia Act 2009 (Act 701). The Act stipulates the provisions pertaining to the eligible persons to be appointed to the SAC, procedures, terms and conditions of appointment and also remuneration and allowances for the members of the SAC. In this regard, the question arises whether the prescribed provisions are sufficient to regulate the appointment of members to the SAC and free from any shortcomings. Hence, this study sought to analyse the existing legislations governing the appointment of members to the SAC and to analyse the legal issues arising from the existing legislations. By using legal research methodology, this article analysed the entire provisions dealing with the appointment matter. Based on the data collected from statutes passed by the Parliament of and Malaysia published materials, the analytical method was used by scrutinizing the related provisions of the law pertaining to the appointment of members to the SAC. This study found that, several loopholes exist in the statutory requirement of the existing law which needs to be addressed by the respective authoritative body in order to avoid any legal conflict in the future. Hence this study is significant in order to strengthen the existing legislation governing the SAC especially related the appointment process. Keywords: Shariah advisory council, Shariah advisor, Islamic finance, Islamic law, Central Bank of Malaysia Act 2009. Abstrak: Di Malaysia, pelantikan anggota Majlis Penasihat Shariah (MPS) Bank Negara Malaysia (BNM) ditetapkan oleh Akta Bank Negara Malaysia 2009 (Akta 701). Akta menetapkan peruntukan-peruntukan berkaitan orang yang layak untuk dilantik menganggotai MPS, prosedur, terma dan syarat-syarat perlantikan dan juga saraan dan elaun anggota-anggota MPS. Dalam hal ini, persoalan timbul sama ada peruntukan yang ditetapkan memadai untuk mengawal selia pelantikan anggota MPS dan bebas daripada sebarang kekurangan. Kajian ini bertujuan untuk menganalisis undang-undang sedia ada yang mentadbir pelantikan anggota MPS dan untuk menganalisis isu-isu undang-undang yang timbul daripada undang-undang sedia ada. Dengan menggunakan metodologi penyelidikan undang-undang, artikel ini menganalisis keseluruhan peruntukan yang berkaitan urusan pelantikan anggota MPS. Berdasarkan data yang telah kumpul daripada statut-statut yang diluluskan oleh Parlimen Malaysia, kaedah analisis telah digunakan dengan meneliti peruntukan-peruntukan undang-undang yang berkaitan pelantikan anggota MPS. Kajian ini mendapati bahawa, beberapa kelemahan wujud dalam kehendak statut dalam undang-undang sedia ada yang perlu diberi perhatian oleh pihak berkuasa yang berkaitan dalam usaha mengelak daripada berlaku sebarang konflik undang-undang pada masa hadapan. Oleh itu, kajian ini adalah sangat penting untuk mengukuhkan undang- undang sedia ada yang mengawal selia MPS terutamanya berkaitan proses pelantikan. Kata kunci: Majlis Penasihat Shariah, Penasihat Shariah, Kewangan Islam, Undang-undang Islam, Akta Bank Negara Malaysia 2009.

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An Analysis on Farmer Rights in International Trade Under Indonesian Law

Technium Social Sciences Journal ◽

10.47577/tssj.v8i1.783 ◽

2020 ◽

Vol 8 ◽

pp. 200-204

Author(s):

Imanullah Moch Najib

Keyword(s):

International Trade ◽

Legal Protection ◽

Secondary Data ◽

Primary Data ◽

Legal Interpretation ◽

Legal Research ◽

Indonesian Government ◽

Triangulation Method ◽

Alternative Solutions

The aims of this research were to examine the legal protection on the farmer rights in international trade under Indonesian law. The research was important to provide various alternative solutions over the problem of inabilities of farmer to be a subject of international trade and to review whether the Indonesian Government gave legal protection to farmer rights. It was an empirical legal research, which using primary and secondary data. Primary data was collected from the respondents and informants while the secondary ones were taken from primary and secondary legal materials. The validity of data used sources triangulation method while all of data were analysed by analysis of editing style through legal interpretation. The result showed that Indonesian Government through enactment of its legislation has not been providing the legal protection to the farmer rights in international trade optimally. Moreover, this study was expected to contribute in reforming over legislation that regulates the protection of farmer rights.

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Islamic finance arbitration: enforceability under the New York Convention 1958 of arbitration awards made following a reference to the Shariah Advisory Council under the Central Bank of Malaysia Act 2009

Arbitration International ◽

10.1093/arbint/aiz009 ◽

2019 ◽

Vol 35 (2) ◽

pp. 245-261

Author(s):

Abdullah Abdul Rahman

Keyword(s):

New York ◽

Central Bank ◽

Research Method ◽

Advisory Council ◽

Islamic Finance ◽

Legal Research ◽

Financial Transaction ◽

Arbitration Clause ◽

New York Convention ◽

Governing Law

Abstract This article analyses the enforceability of arbitration awards, rendered following a reference to the Shariah Advisory Council of the Central Bank of Malaysia under sections 56 and 57 of the Central Bank of Malaysia Act 2009, under the New York Convention 1958 which has been adopted in 159 countries. This article employs the theoretical legal research method and has compared sections 56 and 57 against the requirements of the Convention for enforceability of awards, in particular the fundamental attributes of an arbitration. The conclusion is that such awards would not be enforceable under the Convention as they infringe Article V(1)(d) of the Convention. This would cause such awards to lose the feature of global and convenient enforceability usually attached to arbitration awards. These consequences make it less attractive, where there is an arbitration clause in the Islamic financial transaction documentation, to choose the Malaysian law as the governing law whether with regard to the substantive merits or the arbitration proceedings. This article recommends that amendments be made to sections 56 and 57 to make the reference to the Shariah Advisory Council optional rather than mandatory and its ruling advisory instead of binding, in respect of arbitration only, so that the global enforceability of such arbitration awards under the Convention is not undermined.

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The Significance of Central Bank of Malaysia Act to Islamic Banking

International Journal Of Management and Applied Research ◽

10.18646/2056.64.19-012 ◽

2019 ◽

Vol 6 (4) ◽

pp. 158-180

Author(s):

Aishath Muneeza

Keyword(s):

Central Bank ◽

Case Law ◽

Legal Framework ◽

Legal Issues ◽

Advisory Council ◽

Islamic Banking ◽

Legal Research ◽

Or Practice ◽

To Come

Malaysia is considered as the cranium of Islamic banking. The purpose of this paper is to find out the significance of Central Bank of Malaysia Act (CBMA) to Islamic banking by analysing the relevant provisions of CBMA and the reported case law in Malaysia in this regard. This is a legal research where the provisions of this Act relevant to Islamic banking is reviewed and assessed in the light of reported case law. It is found that there is a need for the legislature to come up with the specific directions or practice notes in which Shariah issues of the case could be differentiated from factual issues/legal issues. It is hoped that the outcome of this paper will assist those jurisdictions aspiring to have a sophisticated legal framework for Islamic banking to comprehend the significance of having statutory provisions to establish the apex Shariah Advisory Council at the Central Bank level.

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Analysis on Perpetrator of Klithih In Special Region of Yogyakarta

Unram Law Review ◽

10.29303/ulrev.v5i1.154 ◽

2021 ◽

Vol 5 (1) ◽

Author(s):

Endro Rasetya Prasetyandoko ◽

Yeni Widowaty

Keyword(s):

Research Method ◽

Qualitative Method ◽

Descriptive Analysis ◽

Research Result ◽

Field Research ◽

Secondary Data ◽

Primary Data ◽

Legal Research ◽

General Reaction ◽

Special Region

This crime often occurred and can directly be witnessed and committed publicly of Yogyakarta, this type of crime known as Klithih. Crimes committed by the offender emerge general reaction as this act may disturb public. It is not only harm a single victim but also multiple. This crime majorly offended by secondary senior high school teens. Aims of this research related to criminology study on Klithih offender in special region of Yogyakarta are to find out causing factors as well as to find out countermeasure efforts of the authorities on such a crime and enforcement concept on the crime in Yogyakarta. This research applied juridical-empirical legal research method namely applied procedure to overcome problems by researching secondary prior to analysing primary data that collecting from field research. The primary data collected from interviews with informants, meanwhile secondary data are collected from documentation, books, literatures and archives that related with research object. Data analysis is applying qualitative method that analysing normative (juridical) aspects under a descriptive-analysis manner. Research result indicates that (1) causing factors of Klithih crime in the special region of Yogyakarta are including revenge, circumstances, alcohol and the lack of education; (2) efforts taken by police to overcome Klithih crime in the special region of Yogyakarta namely penal and non-penal acts.

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Arah Kebijakan Pengawasan terhadap Perbankan Syariah dalam Sistem Perbankan Nasional di Indonesia

Volksgeist Jurnal Ilmu Hukum dan Konstitusi ◽

10.24090/volksgeist.v3i1.3498 ◽

2020 ◽

Vol 3 (1) ◽

pp. 41-52

Author(s):

Andrew Shandy Utama

Keyword(s):

Central Bank ◽

Financial Services ◽

Banking System ◽

Islamic Banking ◽

Legal Research ◽

Islamic Bank ◽

Independent Direction ◽

National Banking System

This research aims to explain the direction of policy regarding supervision of Islamic banking in the banking system in Indonesia. The method used in this research is normative legal research using the statutory approach. The results of this research explain that the policy regarding supervision of Islamic banking in the national banking system in Indonesia is headed toward an independent direction. In Law Number 7 of 1992 and Law Number 10 of 1998, it is stated that supervision of Islamic banking is done by Bank Indonesia as the central bank. Based on Law Number 21 of 2008, supervision of Islamic banking is strengthened by not only being supervised by Bank Indonesia, but also by the National Sharia Council of the Majelis Ulama Indonesia by placing Sharia Supervisory Councils in each Islamic bank. After the ratification of Law Number 21 of 2011, supervision of Islamic banking moved from Bank Indonesia to an independent institution called the Financial Services Authority.

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Bantuan Hukum Cuma-Cuma Bagi Tersangka yang Tidak Mampu Pada Tingkat Penyidikan

Pena Justisia Media Komunikasi dan Kajian Hukum ◽

10.31941/pj.v19i2.1119 ◽

2020 ◽

Vol 19 (2) ◽

Author(s):

Rio Saputra ◽

Mokhammad Najih

Keyword(s):

Secondary Data ◽

Primary Data ◽

Legal Aid ◽

Criminal Cases ◽

Legal Research ◽

Factors Affecting ◽

Legal Structure ◽

Procedure Code ◽

Study Techniques ◽

The Right

Suspects have the right to obtain legal assistance, especially for suspects who are classified as economically disadvantaged in accordance with Article 56 of the Criminal Procedure Code (KUHAP). The facts show that there are many irregularities in the implementation of legal aid, therefore it is necessary to know about the implementation of free legal aid for suspects who are incapacitated at the level of investigation and the factors that become obstacles in the implementation of legal aid. This legal research is an empirical legal research and this research is descriptive in nature. The data used are primary data and secondary data. The techniques used to collect data were document study techniques and interview techniques. Inhibiting factors affecting the implementation of free legal aid for suspects who are unable at the level of investigation can be classified and differentiated into 3 factors, namely, legal substance, legal structure, and legal culture).Keywords: Legal Aid, Criminal Cases

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AN ANNOTATED TRANSLATION OF PERSONAL PRONOUNS IN THE NOVEL THE SINS OF FATHER

Journal of Language and Literature ◽

10.35760/jll.2019.v7i1.1999 ◽

2019 ◽

Vol 7 (1) ◽

pp. 48-54

Author(s):

Chintia Handayani

Keyword(s):

Qualitative Method ◽

Sampling Technique ◽

Primary Data ◽

Personal Pronoun ◽

The Novel ◽

Personal Pronouns ◽

Purposive Sampling ◽

Annotated Translation

This article is based on annotated translation. Annotated translation is a translation with commentary. The objective of this article is to find out strategies that was employed in translating in Personal Pronoun I and You in the novel The Sins of Father by Jeffry Archer. The research used qualitative method with retrospective and introspective as research approached. The syntactic strategies by Chesterman is employ as tools of analysis. The result shows that from 25 data, there are 5 primary data which are taken using purposive sampling technique. There are 3 word ‘I’ and 2 word ‘You’, which all the data has the same translation principle and strategies.

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IMPLEMENTASI PASAL 11 AYAT (1) UNDANG-UNDANG NOMOR 42 TAHUN 1999 TENTANG JAMINAN FIDUSIA : PERSPEKTIF PERJANJIAN KREDIT DENGAN JAMINAN FIDUSIA PADA PERUSAHAAN PERSEROAN PEGADAIAN

Acta Comitas ◽

10.24843/ac.2016.v01.i02.p15 ◽

2016 ◽

Author(s):

Ni Wayan Tirtawati ◽

I Dewa Gde Atmadja ◽

Gde Marhendra Wijaatmadja

Keyword(s):

Government Regulation ◽

Moving Objects ◽

Secondary Data ◽

Descriptive Study ◽

Primary Data ◽

Sampling Techniques ◽

Insurance Company ◽

Legal Research ◽

Collecting Techniques ◽

Study Sites

Pawnshop Company is a State Owned Enterprises (SOEs), which is engaged in the business of providing credit services and applicable statutory lien for anyone with a moving objects collateral requirement. In order to develop the business, so Government Regulation No. 103 of 2000 was issued, stated of the granting of the loan based on the collateral of fiduciary money. As an institution that provides credit to guarantee the fiduciary shall comply with the provisions set out in Law No. 42 of 1999, especially Article 11, paragraph (1) which states that the objects are burdened with fiduciary collateral required to be registered, but in reality there is no Pawnshop Company comply with Article 11 paragraph (1) of Law No. 42 of 1999 on Fiduciary. Based on the gap das sein and das sollen, then can be formulated the problem of how fiduciary guarantee enrollment application pursuant to Article 11 paragraph (1) of Law No. 42 of 1999 on Company Pawnshop and how execution of fiduciary insurance company that is not registered by the Company Pawnshop when borrowers are in default. Empirical legal research is used in this thesis, because it’s getting out of the gap between das Sein and das sollen. The approach used in this thesis is the legislation approach, case-based approach, and the analytical approach. The nature of the research in this study was a descriptive study, sites in the Pawnshop Company branch Denpasar and Tabanan. The data used in this thesis is the primary data / field data and secondary data / literature. Data collecting techniques used in this thesis is planned interview techniques and reading literature. Sampling techniques used in this thesis is purposive sampling and the data obtained are presented in descriptive qualitative. The results of this problem study is application of fiduciary guarantee enrollment on the Pawnshops Company, that disobedience to law number 42 of 1999 Article 11 paragraph (1) was happened, while the execution of fiduciary insurance company that is not registered by Pawnshop Company if debtor in default is done by a family way.

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PENYELESAIAN GANTI RUGI AKIBAT SENGKETA PENGUASAAN HAK ATAS TANAH SECARA MELAWAN HUKUM (Tinjauan Beberapa Kasus di Pengadilan Negeri Surakarta)

Jurnal Privat Law ◽

10.20961/privat.v7i1.30104 ◽

2019 ◽

Vol 7 (1) ◽

pp. 68

Author(s):

Ananda Dwinanti Kinasih , ◽

M. Hudi Asrori S ,

Keyword(s):

Data Collection ◽

Civil Law ◽

Secondary Data ◽

Land Rights ◽

The State ◽

Primary Data ◽

State Court ◽

Legal Research ◽

Analytical Technique ◽

Legal Force

Abstract This article aims for reviewing how the settlement of compensation as the consequences of the tenure of land rights unlawfully in civil law Surakarta state court verdict number 106/pdt.g/2017/PN.SKT and number 103/pdt.G/2006/PN.SKT where the court’s decision has a permanent legal force. This research is a juridical normative legal research. The location of this research at Notary Office and PPAT Adib Sujarwadi and the State Court Surakarta Class 1A Specific. Kinds and the sources of data in this research are consist of primary data and secondary data. The technique of data collection through interview and library study. The analytical technique used by the author is by the method of syllogism that uses the deduction mindset. Regarding the settlement of compensation due to unlawful tenure of land rights is a compensatory damages, in the form of payment to the victim amounting to a loss that is actually experienced. Based on the decision of the Panel of Judges. Regarding the non-granting of immaterial compensation because the Plaintiff does not attach the appropriate evidence. After the verdict is declared incracht, outside the court, the Defendant and the Plaintiff may hold deliberations to determine the amount of the indemnity or the Plaintiff waived the indemnity obligation, but the Defendant must leave the land of the object of the dispute voluntarily. In the case of still occupy it will be executed by the bailiff from the Court. Keywords: Compensation; Tort; Tenure Of Land Rights.Abstrak Artikel ini bertujuan untuk mengkaji bagaimana penyelesaian ganti rugi akibat penguasaan hak atas tanah secara melawan hukum pada perkara perdata Putusan Pengadilan Negeri Surakarta Nomor 106/ Pdt.G/2017/PN SKT dan Nomor 103/Pdt.G/2006/PN SKT, dimana putusan pengadilan tersebut telah berkekuatan hukum tetap. Penelitian ini merupakan penelitian hukum normatif yuridis. Lokasi penelitian yaitu di Kantor Notaris dan PPAT Adib Sujarwadi dan Pengadilan Negeri Surakarta Kelas IA Khusus. Jenis dan sumber data penelitian ini meliputi data primer dan data sekunder. Teknik pengumpulan data melalui wawancara dan studi kepustakaan. Teknik analisis yang digunakan oleh penulis adalah dengan metode silogisme yang menggunakan pola pikir deduksi. Penyelesaian ganti rugi akibat penguasaan hak atas tanah secara melawan hukum yaitu dengan ganti rugi kompensasi, berupa pembayaran kepada korban sebesar kerugian yang benar-benar dialami. Berdasarkan keputusan Majelis Hakim. Mengenai tidak dikabulkannya ganti rugi immateriil dikarenakan Penggugat tidak melampirkan bukti-bukti yang sesuai. Setelah putusan dinyatakan incraht, di luar pengadilan, Tergugat dan Penggugat dapat mengadakan musyawarah untuk menentukan jumlah ganti rugi atau Penggugat membebaskan kewajiban pembayaran ganti rugi, namun Tergugat harus meninggalkan tanah obyek sengketa secara sukarela. Dalam hal masih tetap menempati maka akan dilakukan eksekusi oleh juru sita dari Pengadilan. Kata Kunci : Ganti Kerugian; Perbuatan Melawan Hukum; Penguasaan Hak Atas Tanah.

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