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Implementing Shari’ah-compliant collateral security regimes: Select issues

In: Research Handbook on Secured Financing in Commercial Transactions

Author

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  • Michael J. T. McMillen

Abstract

The chapter looks at how to implement Shari’ah-compliant collateral security regimes for securing obligations. The chapter goes through the fundamentals of Shari’ah law and examines how to manage them for secured lending. It then goes on to cover specific issues, such as second and subsequent liens, secured debt, proceeds, types of collateral and remedies. It shows that seeking compatibility between secured lending and Islamic finance is challenging but far from impossible.

Suggested Citation

  • Michael J. T. McMillen, 2015. "Implementing Shari’ah-compliant collateral security regimes: Select issues," Chapters, in: Frederique Dahan (ed.), Research Handbook on Secured Financing in Commercial Transactions, chapter 4, pages 97-131, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:14776_4
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