Assoc. Prof. Dr. Aishath Muneeza
Qualification:Ph.D.in Law in International Islamic University Malaysia. (2013)
Fields/Area of Specialization:Islamic Banking Law
Assoc. Prof. Dr. Aishath Muneeza holds a Ph.D.in Law, Masters in Banking Law, and a Bachelor of Laws (Hons) all from the International Islamic University of Malaysia. She is a wealth of knowledge in her field of specialization. She has acquired significant education and work experience in Islamic Law, Islamic Banking & Finance and many other related subjects. She has presented numerous research papers in international conferences held in different parts of the world and has also published academic books and papers on Islamic Finance.

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Showing results 1 to 10 of 155
  • short-term_Shariah-compliant_Islamic_liquidity_management_instruments_sustain_Islamic_banking_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2020)

  • The purpose of this paper is to describe the structure of the Islamic treasury bills issued by the Central Bank of Maldives, Maldives Monetary Authority (MMA) for the benefit of those jurisdictions that aspire to introduce short term Islamic liquidity management instruments. This is exploratory research where the experience of the author in structuring the Islamic liquidity management instruments discussed in the paper. It is evident from the discussions of this paper that innovation is the key to structure Shari'ah compliant short term liquidity management instruments. The example of Maldives has proved that there is a need to amend the laws of the country to facilitate Central banks...

  • house_financing_contracts_used_Islamic_banks_finished_properties_Malaysia_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Fauzi, Muhammad Fahmi; Mat Nor, Muhammad Faisal; Abideen, Mohamed; Ajroudi, Muhammed Maher (2020)

  • The purpose of this paper is to find out the existing practices of the Islamic banks in providing financing to the customers who have a requirement to purchase a finished property and to examine the existing products used by the Islamic banks in this regard by providing an insight into the modus operandi of these products. In doing this, attempt is made to find out the most famous product offered by the Islamic banks in this regard and to find out whether in reality, Malaysian Islamic banking industry has moved away from Bai Bithaman Ajil (BBA) or not. This is a qualitative research, largely library-based, and it will consist of secondary sources such as books, journals, articles and ...

  • regulating_fintech_business_aishath.png.jpg
  • Chapter in Book


  • Authors: Kunhibava, Sherin; Muneeza, Aishath (2020)

  • The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, an...

  • the_application_of ju’alah_Islamic_finance_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Mohamed, Ismail Mohd; Mohd Rafede; Muneeza, Aishath (2020)

  • Ju'alah is one of the least researched types of Shariah contracts used in Islamic finance. The objective of this paper is to explore the current and potential applications of Ju'alah with specific reference to Malaysian Islamic banking, takaful and the Islamic capital market. This paper establishes that there is potential for using Ju'alah in Islamic finance as a primary and/or secondary contract. It also establishes that Ju'alah can be used in takaful, though it is not being currently used for this in Islamic banking and the Islamic capital market in Malaysia. It is anticipated that the findings of this paper will improve understanding of the practice of Ju'alah in the Malaysian Isla...

  • application_statutes_limitations_Islamic_banking_case_Malaysia_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Limitations of action designate extent of time after an event, as set by statutes of limitations, within which legal action can be initiated by a party to a transaction. No event is actionable outside the designated time as same is rendered statute-barred. This study aims to provide an insight into application and significance of Limitations Act 1950 and Limitation Ordinance 1952 to Islamic banking matters in Malaysia as well as Shariah viewpoint on the issue of limitation of action. In conducting the study, a qualitative research methodology is employed where reported Islamic banking cases from 1983 to 2018 in Malaysia were reviewed and analysed to ascertain the application of those ...

  • Exploratory _study_possibility_replacing_tawarruq_based_Islamic_banking_products_using other_alternatives_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ahmad, Zaki; Zahir, Faathih; Usman, Ahmed Mohamud; Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Tawarruq which is also known as commodity murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as "tawarruq banks" and some even call tawarruq as the "magic lamp" of the industry. Shariah scholars have criticised this frequent usage of tawarruq in Islamic banking industry of Malaysia, while the practitioners have replied by saying that if tawarruq is a shariah approved concept, then what is wrong with the usage of it? However, from the shariah perspective, the issue here is not about the shariah compliance of tawarruq transactions per se. It is about t...

  • Application_tawarruq_Islamic_banking_Malaysia_towards_smart_tawarruq_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Roslan, Muhammad Faruq; Bamahriz, Omar; Muneeza, Aishath; JinZi, Chu; Mustapha, Zakariya; Ahmad, Mohamad Zabidi (2020)

  • The objective of the paper is to discuss the application of tawarruq in Islamic banking generally. The modus operandi of tawarruq in Islamic banking is an essential discussion in jurisdiction like Malaysia, where most Islamic banks use tawarruq to structure Islamic banking products. This paper employs a systematic literature review on best practice models and mechanism of current tawarruq application. The outcome of the research helps to understand the modus operandi of tawarruq transactions practically with a view towards understanding its future prospects in the era of fintech. It is envisaged that this research will assist the growing understanding of the existing application of ta...

  • The_institution_waqf_innovative_financial_tool_socio_economic_development_Magda_Aishath.jpg.jpg
  • Book


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2020)

  • The book is written to meet the needs of students studying waqf and those who are keen to study modes of Islamic social finance. Part of this book maybe useful to those studying Islamic economics at the undergraduate and postgraduate levels. Apart from students, this book can be used by professionals to refresh and update their knowledge about the subject and implement Islamic social finance via waqf practically. This book is arranged in a way that helps readers understand pertinent areas of the topic in a comprehensive manner.

  • it_is_time_zakat_organizations_India_press_zakat_activation_button_provide_economic_social_relief_COVID-19_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • COVID-19 began as a health crisis and now has led to an economic crisis. There is a sudden surge in the number of poor and needy who has become unemployed over night without any prior warning and who has no way to find an alternative work as the whole country is locked down to protect from widespread of the disease in the local communities. This is the situation in the whole world today and India is no exception to this. As Purohit in this April 2020 has reported in Aljazeera: millions in underdeveloped regions face penury and deprivation as economic activity grinds to a halt due to lockdown. An example to further describe this issue at an individual is described by Purohit as follows...

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

Assoc. Prof. Dr. Aishath Muneeza
author picture
Qualification: Ph.D.in Law in International Islamic University Malaysia. (2013)
Fields/Area of Specialization: Islamic Banking Law
Assoc. Prof. Dr. Aishath Muneeza holds a Ph.D.in Law, Masters in Banking Law, and a Bachelor of Laws (Hons) all from the International Islamic University of Malaysia. She is a wealth of knowledge in her field of specialization. She has acquired significant education and work experience in Islamic Law, Islamic Banking & Finance and many other related subjects. She has presented numerous research papers in international conferences held in different parts of the world and has also published academic books and papers on Islamic Finance.
Showing results 1 to 10 of 155
  • short-term_Shariah-compliant_Islamic_liquidity_management_instruments_sustain_Islamic_banking_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2020)

  • The purpose of this paper is to describe the structure of the Islamic treasury bills issued by the Central Bank of Maldives, Maldives Monetary Authority (MMA) for the benefit of those jurisdictions that aspire to introduce short term Islamic liquidity management instruments. This is exploratory research where the experience of the author in structuring the Islamic liquidity management instruments discussed in the paper. It is evident from the discussions of this paper that innovation is the key to structure Shari'ah compliant short term liquidity management instruments. The example of Maldives has proved that there is a need to amend the laws of the country to facilitate Central banks...

  • house_financing_contracts_used_Islamic_banks_finished_properties_Malaysia_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Fauzi, Muhammad Fahmi; Mat Nor, Muhammad Faisal; Abideen, Mohamed; Ajroudi, Muhammed Maher (2020)

  • The purpose of this paper is to find out the existing practices of the Islamic banks in providing financing to the customers who have a requirement to purchase a finished property and to examine the existing products used by the Islamic banks in this regard by providing an insight into the modus operandi of these products. In doing this, attempt is made to find out the most famous product offered by the Islamic banks in this regard and to find out whether in reality, Malaysian Islamic banking industry has moved away from Bai Bithaman Ajil (BBA) or not. This is a qualitative research, largely library-based, and it will consist of secondary sources such as books, journals, articles and ...

  • regulating_fintech_business_aishath.png.jpg
  • Chapter in Book


  • Authors: Kunhibava, Sherin; Muneeza, Aishath (2020)

  • The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, an...

  • the_application_of ju’alah_Islamic_finance_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Mohamed, Ismail Mohd; Mohd Rafede; Muneeza, Aishath (2020)

  • Ju'alah is one of the least researched types of Shariah contracts used in Islamic finance. The objective of this paper is to explore the current and potential applications of Ju'alah with specific reference to Malaysian Islamic banking, takaful and the Islamic capital market. This paper establishes that there is potential for using Ju'alah in Islamic finance as a primary and/or secondary contract. It also establishes that Ju'alah can be used in takaful, though it is not being currently used for this in Islamic banking and the Islamic capital market in Malaysia. It is anticipated that the findings of this paper will improve understanding of the practice of Ju'alah in the Malaysian Isla...

  • application_statutes_limitations_Islamic_banking_case_Malaysia_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Limitations of action designate extent of time after an event, as set by statutes of limitations, within which legal action can be initiated by a party to a transaction. No event is actionable outside the designated time as same is rendered statute-barred. This study aims to provide an insight into application and significance of Limitations Act 1950 and Limitation Ordinance 1952 to Islamic banking matters in Malaysia as well as Shariah viewpoint on the issue of limitation of action. In conducting the study, a qualitative research methodology is employed where reported Islamic banking cases from 1983 to 2018 in Malaysia were reviewed and analysed to ascertain the application of those ...

  • Exploratory _study_possibility_replacing_tawarruq_based_Islamic_banking_products_using other_alternatives_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ahmad, Zaki; Zahir, Faathih; Usman, Ahmed Mohamud; Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Tawarruq which is also known as commodity murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as "tawarruq banks" and some even call tawarruq as the "magic lamp" of the industry. Shariah scholars have criticised this frequent usage of tawarruq in Islamic banking industry of Malaysia, while the practitioners have replied by saying that if tawarruq is a shariah approved concept, then what is wrong with the usage of it? However, from the shariah perspective, the issue here is not about the shariah compliance of tawarruq transactions per se. It is about t...

  • Application_tawarruq_Islamic_banking_Malaysia_towards_smart_tawarruq_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Roslan, Muhammad Faruq; Bamahriz, Omar; Muneeza, Aishath; JinZi, Chu; Mustapha, Zakariya; Ahmad, Mohamad Zabidi (2020)

  • The objective of the paper is to discuss the application of tawarruq in Islamic banking generally. The modus operandi of tawarruq in Islamic banking is an essential discussion in jurisdiction like Malaysia, where most Islamic banks use tawarruq to structure Islamic banking products. This paper employs a systematic literature review on best practice models and mechanism of current tawarruq application. The outcome of the research helps to understand the modus operandi of tawarruq transactions practically with a view towards understanding its future prospects in the era of fintech. It is envisaged that this research will assist the growing understanding of the existing application of ta...

  • The_institution_waqf_innovative_financial_tool_socio_economic_development_Magda_Aishath.jpg.jpg
  • Book


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2020)

  • The book is written to meet the needs of students studying waqf and those who are keen to study modes of Islamic social finance. Part of this book maybe useful to those studying Islamic economics at the undergraduate and postgraduate levels. Apart from students, this book can be used by professionals to refresh and update their knowledge about the subject and implement Islamic social finance via waqf practically. This book is arranged in a way that helps readers understand pertinent areas of the topic in a comprehensive manner.

  • it_is_time_zakat_organizations_India_press_zakat_activation_button_provide_economic_social_relief_COVID-19_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • COVID-19 began as a health crisis and now has led to an economic crisis. There is a sudden surge in the number of poor and needy who has become unemployed over night without any prior warning and who has no way to find an alternative work as the whole country is locked down to protect from widespread of the disease in the local communities. This is the situation in the whole world today and India is no exception to this. As Purohit in this April 2020 has reported in Aljazeera: millions in underdeveloped regions face penury and deprivation as economic activity grinds to a halt due to lockdown. An example to further describe this issue at an individual is described by Purohit as follows...

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.