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Additional info for Shari'a law in commercial and banking arbitration : law and practice in Saudi Arabia

Example text

The founding body was a committee to settle disputes between traders, under the name of Majlis Altojjar, or the traders’ council. Other than the memories of some elders, no evidence has survived from that period. However, its name suggests that the council was little more than a conciliation committee, which might well have been sufficient for the then relatively primitive economy, which depended on only a handful of sources. The establishment of Majlis Altojjar was followed by the establishment of what is known as Mosajjil Alsharikat, or the companies registry, which became the foundation stone of the Ministry of Commerce and the first step towards regulating 95 For more details please see N.

102 However, in real life the picture is totally different, as illegal copies of movies, software in particular and books to a lesser degree are sold in public. For instance, the printing shops around King Abdul-Aziz University in Jeddah offer ready photocopies of a wide variety of academic books, without any respect for copyright law. Moreover, the printing shop inside the central library of the same University also photocopies whole books, completely ignoring the copyright law notice posted on its door, which states clearly the limits for photocopying books for academic use.

Bearman, R. Peters and F. , Harvard University Press, 2005). 16 Shari′a Law in Commercial and Banking Arbitration Alimam Ala′azam, ‘the greatest imam in Iraq’. Although this school is the oldest, it is also considered to be the most open to modern ideas and the most liberal in certain matters. The Hanafi school is characterized by the use of subjective opinions (ra′i), which partly gave it its name, ahl ar ra′i. The teachings of this school give priority always to the Quran, then to the Sunna and finally to Abo Hanifa’s opinion.

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