Podcast Location:
Download it here [file size: 18.6 MB]
Categories:
Corporate & Commercial Law
Banking and Financial Services
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to inform the listener about the impact that Sharia law may have on finance transactions. It attempts to help the listener understand the particular areas of transactions that may be affected, and gives guidance on how to deal with such issues. Further, this podcast aims to provide insightful comments on the future of Islamic finance given the impact of the credit crunch.

Outcomes:
After completing the course you will:
  • Understand how Islamic banks make a profit whilst adhering to the prohibition on interest;
  • Be aware of how the English courts have dealt with questions of interpreting Sharia law in contracts;
  • Understand how Islamic finance has been affected by the credit crunch;
  • Be aware of where the centres of Islamic finance are currently situated, and how this may change in the future.
Level:
General Interest Difficulty: 2 of 5
Classification:
Introduction
Legal Principles
Sources and References:
  • Shamil Bank of Bahrain v Beximco Pharmaceuticals Ltd [2004] EWCA Civ 19;
  • Musawi v RE International (UK) Ltd and others [2007] EWHC 2981 (Ch);
  • Saab and another v Jones Day Reavis & Pogue (a firm) and another [2002] EWHC 2616 (Ch).
Tags:

This second podcast on Islamic finance, continues to consider the impact of Sharia law on finance transactions and disputes. It details how the English courts have dealt with questions of Sharia law, and considers the effect of the credit crunch on Islamic banks. Further, the speaker gives practical advice to legal practitioners on how to ensure transactions are compliant with Sharia law.

Listeners may find it helpful to consult a glossary of Sharia terminology used in the podcast.

Podcast added: 28/05/09

Podcast last reviewed: 2011-07-25

Start this CPDcast Activity

© CPDcast.com