@article{Abdullahi Busari_Zakariyah_Abdul Aziz_2019, title={Sukuk Default Regulation in Malaysia and United Arab Emirates: Comparative Analysis: قانون تقصير الصكوك في ماليزيا والإمارات العربية المتحدة: تحليل مقارن}, volume={3}, url={https://journals.iium.edu.my/al-fiqh/index.php/al-fiqh/article/view/133}, DOI={10.31436/ijfus.v3i1.133}, abstractNote={<p><em>The nascent Islamic finance industry is still facing the challenges of uncertainties in legal regimes, Sharī’ah interpretations, the right of investors, and remedies in default circumstances. The event of Sukūk default is one of the significant challenges faced by the Islamic capital market. The recent Dana Gas Sukūk default triggered by Sharī’ah compliance interpretations has shown the extent of danger that moral hazards could cause to the entire Islamic finance space. Scholars have argued that the Sharī’ah-compliant arguments witnessed in the industry were because of the nature of the capital market framework of any particular jurisdiction and were not significantly Sharī’ah issues. This study aims to carry out a brief comparative analysis of the default cases in Malaysia and the United Arab Emirates (UAE).  The study compares the legal jurisdiction and regulatory framework in summary-background of the judges and court decision samples based on these structures and how they have influenced Sukuk default regulations in the jurisdiction. This study employs a comparative analysis by considering fundamental elements in the regulatory framework.</em></p> <p><strong><em>Keywords: Sukuk Default, Regulatory Framework, Legal Jurisdictions.</em></strong></p>}, number={1}, journal={International Journal of Fiqh and Usul al-Fiqh Studies}, author={Abdullahi Busari, Saheed and Zakariyah, Luqman and Abdul Aziz, Akhtarzaite}, year={2019}, month={Jun.}, pages={90–102} }