Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/23090
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dc.contributor.advisorYu, Hong-Lin-
dc.contributor.authorAlthabity, Mohammad M-
dc.date.accessioned2016-04-27T08:30:22Z-
dc.date.issued2016-01-22-
dc.identifier.urihttp://hdl.handle.net/1893/23090-
dc.description.abstractThe dynamics of our globalised world open the way for international trade and transactions between different countries; this may lead to conflicts in laws where transactions and trade may be subject to different legal systems. One of the biggest issues in international commercial law is disputes over the charging of interest, for example with regard to late payment, interest-based loans, or compensation for damages. Interest disputes are considered to be a complex area of law and even more complex in the international field. At the international level, interest claims may be connected to many areas of commerce and thus governed by various laws, which are different from one country to another; moreover, each country has its own interest rate and such rates are changeable according to the nature of law and economics under some jurisdictions. Furthermore, the concept of interest itself is affected by influences such as religious beliefs and economic, political and cultural trends. Interest can be treated as a substantive or a procedural matter. The settlement of these disputes therefore faces difficulties. Arbitration, as a method for settlement of disputes, is characterised by special features that assist in resolving these issues; but it faces some obstructions, especially in international commercial arbitration. The practices of arbitral tribunals and national courts in this regard are different. The results of different interpretations, approaches, and theories with regard to arbitration, at the pre-arbitration, during arbitration and post-arbitration stages, may also differ widely due to the diversity of financial and legal systems such as Common Law, Civil Law and the Islamic legal system – Sharia Law – across different countries. Each legal system has a different methodology and theories, even within an individual country under one legal system, and a state within a federal system has its own laws, which may have different interpretations in this respect. The New York Convention of 1958 on enforcing foreign arbitral awards was established in favour of arbitral awards and for the purpose of unifying international rules of arbitration. This Convention provides some procedural and substantive rules for the enforcement of foreign arbitral awards, but also provides some grounds for refusal. These rules have been affected by different interpretations under different jurisdictions and legal systems, which lead to different perspectives on the matter of charging interest and settlement by arbitration. The outcome of applying the NYC under these interpretations often has the opposite of its intended effect: the rejection of foreign arbitral awards. Due to such ambiguities, courts occasionally intervene in arbitration in all its stages. The interventions of national courts occur in three stages: enforcement of the arbitration agreement, enforcement of the contract under the applicable law to the agreement, and enforcement of the foreign arbitral award. The confusion between substantive and procedural laws also creates confusion with respect to public policy, non-arbitrability and enforceability. In addition, there may be a lack of clarity on the scope of arbitration with respect to the parties’ agreement, whether or not the parties have agreed to the interest rates and periods and whether or not they have agreed to the authority of the arbitrator. These issues affect the enforceability of an arbitration agreement, the law applicable to the disputed contract, the freedom of parties, the authority of the arbitrators and the enforceability of the awarded interest. The thesis studies how arbitral awards containing interest have been interpreted across the three aforementioned legal systems under the NYC 1958 in Saudi Arabia, Egypt, the UAE, England, France, and the US and the enforceability of such awards.en_GB
dc.language.isoenen_GB
dc.publisherUniversity of Stirlingen_GB
dc.rights2016 Mohammad M Althabity, All Rights Reserveden_GB
dc.subjectinteresten_GB
dc.subjectRibaen_GB
dc.subjectarbitrationen_GB
dc.subjectSaudi Arabiaen_GB
dc.subjectUKen_GB
dc.subjectFranceen_GB
dc.subjectU.Sen_GB
dc.subjectEgypten_GB
dc.subjectUAEen_GB
dc.subjectusuryen_GB
dc.subjectcompensationen_GB
dc.subjectdamageen_GB
dc.subjecttorten_GB
dc.subjectlate paymenten_GB
dc.subjectapplicable lawen_GB
dc.subjectseat of arbitrationen_GB
dc.subjectplace of enforcementen_GB
dc.subjectarbitrabilityen_GB
dc.subject.lcshIslamic lawen_GB
dc.subject.lcshCommercial lawen_GB
dc.titleEnforceability of Arbitral Awards Containing Interest - A Comparative Study between Sharia Law and Positive Lawsen_GB
dc.typeThesis or Dissertationen_GB
dc.type.qualificationlevelDoctoralen_GB
dc.type.qualificationnameDoctor of Philosophyen_GB
dc.rights.embargodate2018-04-31-
dc.rights.embargoreasonI need time to write articles for publication from my thesis.en_GB
dc.contributor.funderMinistry of Education of Saudi Arabiaen_GB
dc.author.emailmohalthabity@icloud.comen_GB
dc.rights.embargoterms2018-05-01en_GB
dc.rights.embargoliftdate2018-05-01-
Appears in Collections:Law and Philosophy eTheses

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