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Digital Smart Contracts: Legal and Shari’ah Issues

In: Islamic FinTech

Author

Listed:
  • Ainul Azam bin Ahmad Khamal

    (Ainul Azam & Co., Adcocates & Solicitors)

Abstract

This chapter seeks to examine recent issues that pervade digital contracts also known as smart contracts. Discussions and analysis will be made to understand smart contracts, its key features and applicability in modern commerce as well as its application in Islamic finance. Examples and reference will be made to contemporary smart contract and its symbiosis with blockchain technology and how smart contract has revolutionized the traditional concept of contract. Finally, the author will juxtapose the key legal characteristics of smart contract against the cardinal principles of Islamic finance governing Islamic commerce and the relevant Malaysian legislations and discuss the issues surrounding them.

Suggested Citation

  • Ainul Azam bin Ahmad Khamal, 2021. "Digital Smart Contracts: Legal and Shari’ah Issues," Springer Books, in: Mohd Ma’Sum Billah (ed.), Islamic FinTech, edition 1, chapter 0, pages 111-124, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-45827-0_7
    DOI: 10.1007/978-3-030-45827-0_7
    as

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