- Dr Anowar Zahid
Senior Lecturer
Faculty of Law
Universiti Kebangsaan Malaysia
Bangi 43600, Selangor
Malaysia - (603) 8911-8843
Anowar Zahid
National University of Malaysia, Faculty of Law, Faculty Member
- Focal Research Consultants Ltd., Advisory Body, Faculty MemberGiFT Sdn Bhd, Advisory Council, Faculty MemberLoyal Law firm, Beijing, Team Member, Faculty Memberadd
- International Trade, Investment, Company, Securities Regulation, Insolvency, Corporate Social Responsibility, and 10 moreInsurance, Taxation, Money, Banking and Finance From Traditional and Islamic Perspectives, Laws of Zakah, International Law, Globalization, Corporate Governance, European Union, and Islamic Lawedit
- Dr Zahid is a Senior Lecturer in Law at Universiti Kebangsaan Malaysia (National University of Malaysia). He received... moreDr Zahid is a Senior Lecturer in Law at Universiti Kebangsaan Malaysia (National University of Malaysia). He received his PhD and LLM from the University of Manchester and Dalhousie University, Canada, in international and comparative financial law respectively. He has, to his credit, a good number of publications in internationally acclaimed journals published from North America, Europe and Asia. His teaching and research interests include international law, business law and Islamic law.
Wish to explore the Islamic perspective of international business law and its friendliness and viability in the pluralist legal order of the globalizing world.edit
This paper compares the two basic principles of accounting law, namely True and Fair View Accounting and Fair Presentation Accounting, as required by European Union law and North American (US-Canada) law to determine if they are, in... more
This paper compares the two basic principles of accounting law, namely True and Fair View Accounting and Fair Presentation Accounting, as required by European Union law and North American (US-Canada) law to determine if they are, in essence, the same or similar.
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This paper compares the requirements of initial public offerings (IPOs) within North American (US and Canada) cross-border offerings systems called Multijurisdictional Disclosure System and the European Union system in order to assess the... more
This paper compares the requirements of initial public offerings (IPOs) within North American (US and Canada) cross-border offerings systems called Multijurisdictional Disclosure System and the European Union system in order to assess the feasibility of an integrated securities market between these two regions.
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This paper compares prospectus disclosure requirements and the roles of the Securities Commissions of Ontario and Bangladesh for initial public offerings (IPOs) of securities.
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This paper discusses the Islamic law of position of custom as a source of international law (Siyar)
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This paper discusses the possible theoretical option for ASEAN securities market integration taking examples from European Union and Multi-jurisdictional Disclosure System (MJDS) of US-Canada.
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The World Trade Organisation (WTO) agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) has reawakened old arguments over the impact of the intellectual property (IP) system on public access to essential medicines.... more
The World Trade Organisation (WTO) agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) has reawakened old arguments over the impact of the intellectual property (IP) system on public access to essential medicines. As used here, essential medicines are those needed in symptom management, palliative care, and in the treatment of infections, such as human immunodeficiency virus (HIV), malaria, tuberculosis, and sleeping sickness in places like sub-Saharan Africa. Some argue that patents will further inhibit access to these medicines in sub-Saharan Africa. Others, however, argue the opposite. The latter maintain that patent protection under TRIPS can promote the growth of the pharmaceutical industry in places like sub-Saharan Africa. Moreover, they assert that pharmaceutical patents are not responsible for the limited access to essential medicines in sub-Saharan Africa. Instead, they trace the problem of access to non-patent factors, such as poverty, the lack of supportive infrastructure, and poor governance. This paper set out to assess these contrasting arguments, with a view to determining the actual impact that pharmaceutical patents may be having on access to essential medicines in sub-Saharan Africa. Keyword search of electronic databases was conducted, in addition to a review of relevant literature from print sources. A manual analysis then followed. It was found that, rather than a single set of factors, both patent and non-patent factors combine to inhibit access to essential medicines in sub-Saharan Africa. It is imperative for sub-Saharan African countries to review current tariff and taxation policies, take steps to improve the supply of vital infrastructure, and strengthen their overall healthcare systems. They should also ensure that their IP systems are supportive of public healthcare needs. Equally important, is that TRIPS and the IP system should be more supportive of sub-Saharan Africa's struggle to bear its disease burden, rather than focusing narrowly on profit maximisation for pharmaceutical companies. Sub-Saharan Africa also needs increased international financing, private-public collaboration in research, and the sharing of benefits in order to cater effectively for the health needs of its citizens.
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Corporate Social Responsibility (CSR) is a Western concept. It basically advocates that while a corporation’s prime objective is to earn profits for shareholders, it owes responsibilities to other stakeholders, such as the creditors,... more
Corporate Social Responsibility (CSR) is a Western concept. It
basically advocates that while a corporation’s prime objective is to earn
profits for shareholders, it owes responsibilities to other stakeholders, such
as the creditors, employees, consumers, environment and the community as
a whole. Of them creditors’ interests are usually at stake, especially in case
of insolvency. This paper has chosen corporate duties toward them for
consideration from a comparative perspective-conventional (common law) vis-à-vis Islamic principles. It will show how these two systems of laws are friendly in this regard, which is important for their coexistence in any pluralist legal environment.
basically advocates that while a corporation’s prime objective is to earn
profits for shareholders, it owes responsibilities to other stakeholders, such
as the creditors, employees, consumers, environment and the community as
a whole. Of them creditors’ interests are usually at stake, especially in case
of insolvency. This paper has chosen corporate duties toward them for
consideration from a comparative perspective-conventional (common law) vis-à-vis Islamic principles. It will show how these two systems of laws are friendly in this regard, which is important for their coexistence in any pluralist legal environment.
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This is an update and summary of Malaysian legislation on the prohibition and restriction on international trading in arms and arms-related items.
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Corporate Social Responsibility (CSR) is a Western concept. It basically advocates that the corporation, a juridical person, has a great impact on modern society, whereby it engages itself in economic activities, makes profits and... more
Corporate Social Responsibility (CSR) is a Western concept. It basically advocates that the corporation,
a juridical person, has a great impact on modern society, whereby it engages itself in economic activities,
makes profits and contributes to national economy by paying taxes, employing human persons, and meeting
people’s needs by producing products and providing services. On top of everything, however, its prime
objective is to earn profits for the shareholders. Scholars argue that along with this objective, the corporation
owes responsibilities to other stakeholders, such as the creditors, employees, consumers, environment and the
community as a whole. In other words, profits should not be its sole target; it should take care of the interests
of other stakeholders. Islamic scholars have found the concept coincides well with Shari’ah in general, as it
holds some reservations with respect to particular issues. This paper considers CSR owed to employees from
a comparative view point, i.e. common law versus Islamic law.
a juridical person, has a great impact on modern society, whereby it engages itself in economic activities,
makes profits and contributes to national economy by paying taxes, employing human persons, and meeting
people’s needs by producing products and providing services. On top of everything, however, its prime
objective is to earn profits for the shareholders. Scholars argue that along with this objective, the corporation
owes responsibilities to other stakeholders, such as the creditors, employees, consumers, environment and the
community as a whole. In other words, profits should not be its sole target; it should take care of the interests
of other stakeholders. Islamic scholars have found the concept coincides well with Shari’ah in general, as it
holds some reservations with respect to particular issues. This paper considers CSR owed to employees from
a comparative view point, i.e. common law versus Islamic law.
Research Interests:
In Shamil Bank of Bahrain case, the Court of Appeal of England and Wales affirmed the lower court’s decision that in an international contract the proper applicable law was a country law. A non-country law, such as lex mercatoria (law... more
In Shamil Bank of Bahrain case, the Court of Appeal of England and
Wales affirmed the lower court’s decision that in an international contract
the proper applicable law was a country law. A non-country law, such as
lex mercatoria (law merchant) or Shari’ah law, was not acceptable. This
article reviews the decision and concludes that Shari’ah law qualifies as an applicable law.
Wales affirmed the lower court’s decision that in an international contract
the proper applicable law was a country law. A non-country law, such as
lex mercatoria (law merchant) or Shari’ah law, was not acceptable. This
article reviews the decision and concludes that Shari’ah law qualifies as an applicable law.
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It is a requirement that a policyholder or participant who wants to join a life policy or family takaful certificate must nominate someone to receive the benefits after his/her demise. The issue to be decided here is: in what capacity is... more
It is a requirement that a policyholder or participant who wants to join a life policy or family takaful certificate must nominate someone to receive the benefits after his/her demise. The issue to be decided here is: in what capacity is the nominee receiving the benefits? This study seeks to examine the status of the nominee of a Muslim policyholder or participant under the Malaysian Insurance and Takaful Laws and Muslim jurists' views on this issue. The findings of this research show that there is two juristic views on this issue; one view says that a nominee can only be a trustee and this means the benefits shall be distributed based on al-mÊrÉth (Islamic law of inheritance) and al-waÎiyyah (bequests), whereas the other view states that a nominee may also be a beneficiary based on al-hibah. Moreover, under the Malaysian Insurance Law as provided by Insurance Act 1996 and current Financial Services Act 2013, the nominee of a Muslim policyholder can only receive the policy benefits as a trustee. On the other hand, the Islamic Financial Services Act 2013 provides that the nominee under a family takÉful certificate may be an executor and may also be a beneficiary based on a conditional hibah. This study recommends that the status of the nominee under the family takÉful certificate provided by the Islamic Financial Services Act 2013 be the same as that under a trust nomination under the Insurance Act Effect of Nomination Under Life Insurance and Family TakÉful
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This paper consider fiat money from Islamic perspective and argues for asset-backed money, which should bring currency stability.
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This paper discusses the importance of ratification of the UN Convention on International Sale of Goods (CISG) with particular reference to Malaysian Small and Medium Enterprises (SMEs).
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This is an update on US-Bangladesh trade and investment relationship and a brief reflection upon it.
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This paper discusses the acceptability of circumstantial evidence (Qarinah) to Islamic criminal law cases, particularly hudud cases.
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This is a doctrinal and comparative research between the traditional law and the Shariah with regard to insurable interest. The paper aims to examine Shariah views regarding individuals that have an insurable interest in the eyes of the... more
This is a doctrinal and comparative research between the traditional law and the Shariah with regard to insurable interest. The paper aims to examine Shariah views regarding individuals that have an insurable interest in the eyes of the traditional law; and also to clarify these persons' right to insurable interest in the Islamic version of insurance i.e. takaful based on the rights of these individuals upon each other in Shariah. The paper suggests that insurable interest in family takaful could be justified based on inheritance law (al-mirath), bequest (al-wasiyyah), and debt.
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Choice of law and choice of forum clauses of an international commercial contract may sometimes be used to evade the application of any domestic or international law. This is so done by the principle of party autonomy. However, the... more
Choice of law and choice of forum clauses of an international commercial contract may sometimes be used to evade the application of any domestic or international law. This is so done by the principle of party autonomy. However, the parties cannot avoid the mandatory rules of such laws. Lawyers drafting commercial contracts should be mindful of this limitation on the autonomy principle. The recently decided English and German cases depict this tension and sends a note of caution for international commercial lawyers. This paper makes a brief review of those cases and highlights the said limitation coupled with some suggestions.
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The exploitation of the underwater cultural heritage (UCH) involves various competing interests, which are of private and public, commercial and non-commercial nature. The 2001 UNESCO Convention on the Protection of the Underwater... more
The exploitation of the underwater cultural heritage (UCH) involves various competing interests, which are of private and public, commercial and non-commercial nature. The 2001 UNESCO Convention on the Protection of the Underwater Cultural Heritage (CPUCH) aims to deal with various issues apropos those competing interests. Its basic concerns include how UCH should be best protected, how in situ preservation should be practised, whether UCH should be commercialized at all or not, and whether salvage should be included in the UCH law. This paper examines these said competing interests and then looks for a balance between them. With an in-depth analysis of the concerned principles and rules, it argues for combination of 'mutuality interests' in consonance with the basic legislative scheme of the CPUCH. This approach is meant for the exploitation of UCH both for commercial and non-commercial purposes, which would, in fact, fulfill the expectation of the international community.
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The United Nations Convention on International Sale of Goods (CISG) is a harmonization of common law and civil law rules relating to sale of goods. Islamic law was not in the consideration of the drafting body, the United Nations... more
The United Nations Convention on International Sale of Goods (CISG) is a harmonization of common law and civil law rules relating to sale of goods. Islamic law was not in the consideration of the drafting body, the United Nations Commission on International Trade (UNCITRAL), whereas it is one of the oldest leading legal families of the world. This accounts for a scrutiny of the CISG provisions from Islamic perspective. The present study chooses the principle of good faith, which is one of the general principles that underlie the convention, to compare with its Islamic counterpart. It finds that the principle, in general, and with respect to the formation and performance of contract, in particular, is friendly with Islamic Shari'ah.
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The European Union (EU), a leading regional political organisation of today, started with economic integration and was known as European Economic Community (EEC). Later, this (EEC) triggered political unity and formed the very centre of... more
The European Union (EU), a leading regional political organisation of today, started with economic integration and was known as European Economic Community (EEC). Later, this (EEC) triggered political unity and formed the very centre of EU. The Association of Southeast Asian Nations (ASEAN) came into being in 1969 with the objective of economic, political and socio-cultural unity. Under Malaysian Chairmanship, the economic community came into being in December, 2015. This study makes a brief overview of the institutional aspect of these two regional organisations to spot their comparative features of legal harmonisation meant for economic integration. It underlines the importance of an ASEAN court for consistent constitutional and legal interpretation. Students and scholars of comparative economic integration would find this work relevant for further research.
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This correspondence paper updates about the ASEAN progress in legal harmonisation under Malaysian leadership.
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For accounting statements, USA legally requires, as an overriding principle, fair presentation of financial information while European Union applies "Full and True View" principles. Are these principles similar or same? An answer to this... more
For accounting statements, USA legally requires, as an overriding principle, fair presentation of financial information while European Union applies "Full and True View" principles. Are these principles similar or same? An answer to this question is essential to harmonize law. This paper responds to this need.