Can they be the subject matter of a viable comparative study with EU securities regulation?
This is the first of two papers which examine whether Arab securities regulations can be the subject of a methodological study in comparative securities regulation, especially with reference to EU regulations. Little is known about Arab securities regulation in European academic discourse on financial regulation. Needless to say, the sociopolitical dynamics of Shari’a (Islamic law) have occasionally been decontextualised by Western researchers in a manner that has often resulted in obfuscating a balanced projection of Shari’a’s juridical impact. In order, therefore, to provide a fuller analysis, this first paper starts by explaining the importance of examining Shari’a juridically in the broader context of commercial legislation, as despite the relatively stable regulatory status quo, Shari’a still poses juridical risks to imported Western legal concepts. It also examines Shari’a’s juridical impact on Jordan, Kuwait and Oman. The second paper, which will appear in a future issue of the
