Mohd Zakhiri Md Nor

Mohd Zakhiri Md Nor
Northern University of Malaysia | UUM · School of Law (SOL)

Ph.D in Islamic Finance, CIFP, MCL, LL.BS (Shariah)(Hons), LL.B(Hons)

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73
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Publications

Publications (73)
Article
Full-text available
Donation-based crowdfunding is now common in many countries in the world. It has been increasingly important, particularly during Covid-19, and is viewed as one of the strategies for addressing financial challenges in some segments of society. Government and non-governmental organizations. However, the scammer activities via crowdfunding are increa...
Article
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Malaysia has a dual financial system that includes both conventional banking and Islamic banking. Over time, Islamic banking has evolved to the point where it has enticed traditional banks to offer Shariah-compliant products as well. However, even though conventional banks have provided Shariah-compliant products, the Islamic bank's obligation to p...
Article
Since the beginning of the pandemic COVID-19 that hit the world in December 2019, most countries of the world have passed legislation and measures that vary according to their need and nature. This research paper studies legal legislation passed in the UAE to protect workers from losing their source of livelihood while carrying out precautionary me...
Article
Full-text available
Waqf has a long history of improving a country's and civilisation's economic cycles. However, there is a lack of development and commercialisation of waqf property in Malaysia, with 11,091.82 hectares of land remaining undeveloped (92.8 per cent). The law must be improved, and waqf functionaries must be empowered to develop and market waqf. Waqf wa...
Article
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E-bidding has gained popularity in the modern world due to the technology advancement. Despite its popularity, contracting parties are exposed to Shariah non-compliance practices, which may lead to financial losses and disputes. Islamic jurisprudence provides guidelines assisting bidders and auctioneers in avoiding these practices. This study exami...
Article
Sustainability encompasses more than green and environmental protection. That is why the United Nations' sustainable development goals (SDGs) comprise 17 targets aimed at achieving global sustainability through shared prosperity and peace for people and the planet, both at present and in the future. SDG-9, which focuses on resilient infrastructure,...
Article
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This paper is based on an ongoing study titled "Social Based-Crowd Funding in Battling Covid-19 and Maqasid Shariah: Some Legal and Shariah Observations in Malaysia and Indonesia." The COVID-19 pandemic has been one of the most serious health crises since the turn of the century. The corona pandemic has presented Islamic banks with significant chal...
Article
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This paper is based on an ongoing study titled "Social Based-Crowd Funding in Battling Covid-19 and Maqasid Shariah: Some Legal and Shariah Observations in Malaysia and Indonesia." The COVID-19 pandemic has been one of the most serious health crises since the turn of the century. The corona pandemic has presented Islamic banks with significant chal...
Article
Full-text available
A clinical trial is an 'investigation' into the development of a vaccine or treatment for a variety of diseases, including HIV/AIDS, H1N1, leukemia, and cancer, as well as the recently discovered Covid-19. In brief, clinical trials are the only way to determine the solution to any medical problem or question, as well as the quality of human health...
Article
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Fraud Rule; Jordanian Courts; Jordanian Legal System; Letter of Credit. Letter of credit (L/C) has a massive role in expanding international trade operations. It is considered the most secure and stable banking service to finance foreign trade operations such as import and export. As an international contract, potential legal issues arise due to fr...
Article
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E-Wallet has been applied in Muslim and non-Muslim jurisdictions in many parts of the world including Malaysia, China, India, and Korea. The application is widely used and has raised questions with regard to legal and shariah issues. This paper aims to analyse specifically, legal issues affecting e-wallet practices. This paper adopted a qualitative...
Article
Hacking or unauthorised access is criminalised in many jurisdictions, including Malaysia, Singapore, the United Kingdom, Hong Kong, and a few other countries. Hacking is the act of gaining access through the computer system or network without proper authority or exceeding the original authority given to him. Many commentators and researchers have r...
Article
Generally, Rent to Own (RTO) is a financial scheme offered by financial institutions to help those who cannot afford the 10% initial deposit and access to financial schemes. One value-based intermediation (VBI) initiative is the RTO Islamic financing product. The market segment of this product is for the new generation whereby they can own a house...
Article
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The audio/video conference systems (AVS) enable parties from distinct locations to „meet‟ synchronously in achieving certain objectives. Medical practitioners, accounting firms, businessmen, to name a few, have long resorted to AVS in their everyday routines. Recently, the courts in many parts of the world, including the Malaysian courts, have star...
Article
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‫تناقش هذه الورقة اتفاق التحكيم الإلكتروني - دراسة تحليلية- ومن خلالها نبين خصوصية هذا النوع من التحكيم نظير التحكيم العادي ومدى صحة وحجية اتفاق التحكيم الذي ينجم عنه وذلك في النزاعات عموما وتحت ضوء القانون الجزائري، إذ يعتبر التحكيم الإلكتروني في عصرنا الحالي آلية أساسية في فض النزاعات لا استغناء عنها، ولعل ما حدث ويحدث اليوم في الساحة العالمية من...
Article
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Following the upsurge and development in the globalized and emerging economies, commercial misunderstanding and disputes transcending national borders may also be on the rise. Such disputes can hamper the economic activities and operation within those emerging economies, in particular those activities related to the foreign direct investment. Natio...
Article
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International trade and the movement of goods between parties living in different countries have spread in the last century and have become one of the fundamental features of the current trade. This proliferation of international contracts, of course, has its own problems. The problems of external Islamic or conventional letters of credit affect ex...
Article
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Special Economic Zones (SEZs) is one of the known mechanisms to attract Foreign Direct Investment (FDI). Nevertheless, there was a global mix reaction towards its successful implementation with a few operational failures, especially in the area of its legal framework. Therefore, this paper aim is to explore the success and failure experience to be...
Conference Paper
Full-text available
Special Economic Zones (SEZs) is one of the known mechanisms to attract Foreign Direct Investment (FDI). Nevertheless, there was a global mix reaction towards its successful implementation with a few operational failures, especially in the area of its legal framework. Therefore, this paper aim is to explore the success and failure experience to be...
Article
Full-text available
The natural commitment in the Jordanian civil law did not receive adequate study and analysis، despite its importance، because the natural commitment was only mentioned in a few texts in the Jordanian civil law، specifically in Article (313/2) (314)، despite the fact that the Egyptian legislator addressed the idea Natural commitment to more than on...
Article
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ناقشت هذه الورقة واقع تطبيق التجارة الإكترونية في الجزائر بين النظرية والممارسة -دراسة تحليلية-. إذ بالرغم من التركيز على أهمية التجارة الإلكترونية عالمياً وتنظيم سبلها، لازالت بعض الدول العربية لا تعطيه الأولوية لها، على غرار الجزائر. وفي السياق نفسه، تُرك الاقتصاد الجزائري متأخّرًا في التعاملات الإقتصادية الإلكترونية، كما سجل تأخير كبير في تشريع...
Article
Full-text available
Letter of credit importance appears clearly as being a means of guarantee for both the buyer and the seller in international trade. The term letter of credit whether it Islamic or conventional is the most frequent used method of payment used by seller and buyer in their international sales contract. From this point the main question in this study:...
Article
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The paradox cannot really be avoided is that ‘modern technology’ is supposed to be more secure but are generally hard for people to trust. The blockchain appears as people assume it is such a panacea for the bright future of Letters of Credit (L/C). Conventional way of L/C that is a paper-based system in which it is needed to share and validate doc...
Article
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Tasarruf al-Fudhuli refers to transactions or contracts carried out by a person who does not have the authority or legitimacy to commit the transaction, and these contracts include exchange contracts such as sales, rent and services, or charitable contracts such as representation/wakalah, hibah, loans, guarantees, and so on. In the context of Islam...
Article
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As the wide range of international trade out-turn and diversity of the parties, causing banks have to create a new credit service, that is bank guarantees, to enhance the trust between the parties. By providing the security and ease, the beneficiary will obtain a certain amount of money from the bank and being independent from the other party. Whil...
Article
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In view of the increasing online commercial transaction, the number of online disputes may be arising settling online disputes through the court system may not be suitable. Neither the traditional arbitration as alternative dispute resolution. Another alternative method by way of electronic arbitration can be utilised to address online or electroni...
Article
Full-text available
As the wide range of international trade out-turn and diversity of the parties, causing banks have to create a new credit service, that is bank guarantees, to enhance the trust between the parties. By providing the security and ease, the beneficiary will obtain a certain amount of money from the bank and being independent from the other party. Whil...
Article
Full-text available
A guarantee of successful life in this world and the hereafter would be achieved if Muslims live according to Islamic principles and teachings. Property and power that are entrusted to men by Allah SWT ought to be judiciously administered based on Islamic precepts. In brief, the administration of Islamic property aims to achieve hasanah (goodness)...
Article
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Abstract: This paper discussed on the possible application of foreign electronic arbitration award in Algeria. Despite the current concentration on the electronic arbitration globally, yet many Arab countries do not give it priority. More specifically, Algerian economy is left behind on the application of these modern arbitrations techniques. Moreo...
Article
The term e-government means the employment of the Internet and the world-wide-web for delivering government information and services to the citizens. It refers to the use by government agencies of information technologies (such as Wide Area Networks, the Internet, and mobile computing) that have the ability to transform relations with citizens, bus...
Article
The issue of the differences of opinions among Islamic jurists from difference madhhab on certain issues which do not unanimously agree among the justice which create doubtful among the general public. It is only can be controlled by the rule of law and the sanctity of the Federal Constitution until today. The purpose of this research is to examine...
Chapter
This chapter aims to highlight the background of Islamic Financial Services Act 2013 (IFSA). It also highlights experiences of Malaysia in dealing with IFSA. The analysis is tackled along the lines of the background and the constitutional frameworks of the country, the initiatives introduced by the government for the development of shari’ah complia...
Article
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In recent years, it seems that the Muslim society is in annulus stage as to the application of Islamic religious jurisprudence as their source of reference in their daily chores and interactions. In this regards, the qadis and muftis should play their role in addressing the issue of hukm (ruling) or fatwa (edict) in relation to the acceptance and h...
Article
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The conflict in registration of waqf land in Malaysia has been prolonged for such a long time particularly in Penang. This conflict has contributed to the major setback in development of waqf land. This paper aims to examine the procedure in registration of waqf land from legal perspective with reference to provisions in National Land Code 1965 and...
Article
The community's demand for answer of hukm increasingly unique and diverse as a direct impact from the realities of life without boundaries specifically refer to globalization. As a result, a number of new issues of hukm have not been discussed in detail by classical Muslim scholars before. This dynamism of science and technology affects the change...
Article
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The main objective of this legal research is to compare the legal construction and the use of “rahn tasjily” mechanism in the Sharia bank financing between Indonesia and Malaysia through law, concept, and history approaches. The data were analyzed qualitatively by systematic interpretation and historical interpretation. The results are: 1) Both cou...
Article
Today, the Islamic finance industry has made an impactful presence in many jurisdictions all over the world. It attracts practitioners and customers alike from both Muslims and non-Muslims. In essense, it is common knowledge that the principle of Islamic law (Shari’ah) is the supreme source of reference in an industry such as Islamic finance. Shari...
Article
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The development of Shariah is very unique. Despite the primary sources of Shariah, fatwa plays an important role as the source engine for the growth of contemporary world and address the issue of present realities. Fatwa always refers to certain madhhab either Shafie, Maliki, Hambali or Maliki. In this regards, mufti and the judge place important r...
Article
The Islamic banking and finance industry in Malaysia is developing progressively, primarily due to the concerted effort from the regulators and the industry players alike. The Islamic funds are increasing over the years and more innovative products are introduced for the benefit of the consumers. In some situations, disputes arise relating to the I...
Article
One of the important components of the administration of the State is the executive governmental functionaries. These functionaries execute and implement the rules and regulations prescribed upon them, either by the written rules or customary law. This paper provides an account for the various executive governmental functionaries and their roles in...
Article
The objective of fatwa research has a close relationship with the objectives of Shariah (Maqasid al-Sharia). The society is now faced with a new problem, which is caused by the changing patterns of life and the rapid development of science and technology ,, that give rise to a new cyber era. To solve all the problems of the human race in this new m...
Conference Paper
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This paper aims to trace the Islamic concept of al-ifta' within the context of the legal position of fatwa in the jurisdictional limits of four countries: Malaysia, Saudi Arabia, Pakistan and Sudan. Essentially, the Islamic Shari'ah has placed great emphasis on the practices of ijtihad in the early days of Islam. However, today, the Islamic nations...
Conference Paper
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The Islamic baking and finance industry has gained popularity all over the world.Within this context, the development of the industry could very well owe to the constitutional legal framework governing the specified jurisdiction.Such framework includes the ruling authority,the governmental functionaries,the Shariah supervisory bodies as well as the...
Conference Paper
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Sharīʿah law is a revealed law and the ruler is entrusted to implement the siyāsah sharīyyah in administering the state according to what is ordained by Allah s.w.t. This paper focuses on the application of siyāsah sharīyyah in the administration of the State, focusing on the classical works of al-Qarāfī in his famous textbook “Tamyīz” and al-Subkī...
Chapter
Full-text available
The Islamic banking and finance industry has gained popularity all over the world. However, differences of opinions and understandings could trigger potential disputes and misunderstandings, even for the area of Islamic banking and finance. Some of the disputes are settled by resorting to litigation, while others are resorted to out-of-court settle...
Conference Paper
The range of structured investment products available on the market has increased enormously in recent years.The market growth has been mainly investor driven. Islamic investment emerged as a response to rising investor demand in the Middle East in the 1970s and is now growing at an estimated annual rate of 15%.Over the years, liberalisation of sta...
Conference Paper
Full-text available
While the world could see the significance of the e-learning system in providing access to the education system due to its simplicity, convenience and low-cost, the situation at the end of the bargain is the impact of the e-learning system on the e-learners themselves. The scenario is further complicated by the fact that the e-learners could come f...
Conference Paper
Drawn from a doctoral research which analyses the interaction of fatwa, Shariah rulings, resolutions and conventional laws in contemporary Islamic finance, this paper is prepared on two lines of thought, the first being that Islamic finance industry is booming in major parts of the world, including but not limited to Malaysia,Australia,Hong Kong an...
Conference Paper
This paper is drawn from an ongoing Ph.D dissertation entitled, ,A Study of the role of fatwa, Shariah Resolutions, Court Judgment ang governmental policies in the contemporary Islamic Finance in Malaysia, with cross reference with the practices in Saudi Arabia, Pakistan and Sudan. The research is currently at the reporting finding stage. The main...
Conference Paper
This paper is drawn from an ongoing Ph.D thesis entitled " A Study of the Role of Fatwa, Shariah Resolutions, Court Judgments and Governmental Policies in the Contemporary Islamic Finance in Malaysia with Cross Reference with the Practices in Saudi Arabia , Pakistan and the Sudan". The research is currently at the reporting of the finding stage. Th...
Conference Paper
The Islamic banking and finance industry has gained popularity all over the world. However, differences of opinions and understandings could trigger potential disputes and misunderstandings, even for the area of Islamic banking and finance.Some of the disputes are settled by resorting to litigation, while others are resorted to out of court settlem...
Article
Full-text available
A sound legal framework is vital for the establishment of resilient financial institutions and markets. The Shariah and conventional systems offer their own frameworks for Islamic finance governance and financial contracts implementation. The legal framework for contemporary Islamic finance in Malaysia includes fatawa, Shariah resolutions and conve...
Conference Paper
Full-text available
This paper looks at Musharakah, in particular Musharakah Mutanaqisah (MM) or diminishing partnership and the challenges facing the facility today. Part I appeared in last week's issue, and covered an introduction to MM and expectations of the solicitor. This week we examine the process of MM to completion and other issues of the facility. 6.Standar...
Conference Paper
Drawn from a doctoral dissertation entitled " An Analytical Study on the Interaction of Fatawa, Shariah Resolutions, Shariah Rulings and Conventional Law in Contemporary Islamic Finance in Malaysia with Cross Reference to the Practices in Saudi Arabia, Pakistan and Sudan. This paper aims to highlight the position of fatawa / resolutions in the rela...
Conference Paper
This paper initially discusses the brief history of gold dinar as currency and its flow until it is replaced with the current fiat money system.The objective of this paper is to show that the recent idea in Malaysia to introduce gold dinar as monetary currency in Muslim countries is not a workable idea.Despite the destabilizing potential of the cur...
Conference Paper
Full-text available
This paper proposes to introduce the general principles of Islamic international law and to tackle a comparative study between it and the modern international law. Thereafter, we will explore selected issues and challenges on Islamic law of nations itself and come out with some suggestions to overcome them

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