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McMillen, Michael J. T. --- "Implementing Shari’ah-compliant collateral security regimes: Select issues" [2015] ELECD 619; in Dahan, Frederique (ed), "Research Handbook on Secured Financing in Commercial Transactions" (Edward Elgar Publishing, 2015) 97

Book Title: Research Handbook on Secured Financing in Commercial Transactions

Editor(s): Dahan, Frederique

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781781001837

Section: Chapter 4

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

Author(s): McMillen, Michael J. T.

Number of pages: 35

Abstract/Description:

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.