The Effectiveness Of Arbitration In Settling Islamic Banking Disputes

This scientific paper discusses one of the types of banking disputes, which is banking disputes of an Islamic nature that are among the most complex, important and difficult disputes. And that is due to reasons, which includes the difference in the legal source that governs the banking operations carried out by Islamic banking institutions,and its relevance to the technical and substantive aspects of banking operations. Thus, it may be difficult for the judiciary to settle them, and the issue of settling these disputes has become a matter that disturbs those dealing in this field, given the obstacles and problems that may accompany the judiciary that are not in line with the advanced and renewed nature of Islamic banking operations, paving the way for arbitration to come as a mean to settling these disputes. The research reached several recommendations; the most important of which is the necessity to codifying the provisions of Islamic laws related to Islamic banking and financial operations and their new institutions, and theirrespective tools and contracts, by placing them in the form of legal articles that facilitate the adjudication of related lawsuits in order to achieve the renewed legitimate interest and meet the changing needs of institutions and individuals, as well as the need to establish a special center or entityto settle Islamic banking disputes