Dispute Settlement Procedures for Sharia-Economy Cases

The Supreme Court has issued Regulation No. 14 of 2016 on Procedures for the Settling of Sharia-Economy Cases (“Regulation 14/2016”) in a bid to set out a legal framework which can be used by the general public during the settling of any disputes which arise from sharia-economy activities across various sectors of the economy, including: banking, insurance/reinsurance, mutual funds, financing, pension funds, pawnshops and so forth. [1] In essence, Regulation 14/2016 sets out two settlement procedures for sharia-economy cases which are based on the type of claim involved, namely: [2]