Islamic banking, Islamic finance, or Sharia-compliant finance is banking or financing activity that complies with Sharia and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include Mudarabah, Wadiah (safekeeping), Musharaka, Murabahah (cost-plus), and Ijara (leasing).
The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
The International Chamber of Commerce is the largest, most representative business organization in the world. Its over 45 million members in over 100 countries have interests spanning every sector of private enterprise.
University College Cork – National University of Ireland, Cork (UCC) is a constituent university of the National University of Ireland, and located in Cork.
The London Institute of Banking & Finance Limited is a professional body for banking and financial services in England and Wales. The organization works internationally with partners to establish ethical and professional standards across the sector around the world. The limited company was formed in 2023, providing training programs for students, and took over the taught degree awarding powers formerly held by the registered educational charity, incorporated by royal charter, now known as the London Foundation for Banking & Finance. It runs the Student Investor Challenge, an initiative in the financial education sector. As of 2023, the Institute has awarded a Young Financial Journalist of the Year award.
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, when the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as an underwriter that assumes the counterparty risk of the buyer paying the seller for goods.
Banking regulation and supervision refers to a form of financial regulation which subjects banks to certain requirements, restrictions and guidelines, enforced by a financial regulatory authority generally referred to as banking supervisor, with semantic variations across jurisdictions. By and large, banking regulation and supervision aims at ensuring that banks are safe and sound and at fostering market transparency between banks and the individuals and corporations with whom they conduct business.
In common law jurisdictions, an implied warranty is a contract law term for certain assurances that are presumed to be made in the sale of products or real property, due to the circumstances of the sale. These assurances are characterized as warranties regardless of whether the seller has expressly promised them orally or in writing. They include an implied warranty of fitness for a particular purpose, an implied warranty of merchantability for products, implied warranty of workmanlike quality for services, and an implied warranty of habitability for a home.
Lyal S. Sunga is a well-known specialist on international human rights law, international humanitarian law and international criminal law.
An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. The ethical banking movement includes: ethical investment, impact investment, socially responsible investment, corporate social responsibility, and is also related to such movements as the fair trade movement, ethical consumerism, and social enterprise.
The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules on the issuance and use of letters of credit. The UCP is utilized by bankers and commercial parties in more than 175 countries in trade finance. Some 11-15% of international trade utilizes letters of credit, totaling over a trillion dollars (US) each year.
The Unidroit convention on substantive rules for intermediated securities, also known as the Geneva Securities Convention, was adopted on 9 October 2009. It has been signed by only one of the 40 negotiating States (Bangladesh), but not entered into force. The official commentary was published in 2012.
Basel III is the third Basel Accord, a framework that sets international standards for bank capital adequacy, stress testing, and liquidity requirements. Augmenting and superseding parts of the Basel II standards, it was developed in response to the deficiencies in financial regulation revealed by the financial crisis of 2007–08. It is intended to strengthen bank capital requirements by increasing minimum capital requirements, holdings of high quality liquid assets, and decreasing bank leverage.
The International Law Institute, also known as the ILI, was founded as part of Georgetown University in 1955. The ILI provides training and technical assistance for the legal, economic and financial problems of developing countries and emerging economies. Since 1983, the ILI has been an independent, non-profit educational institution serving government officials, legal and business professionals and scholars from its headquarters in Washington, D.C. To date, the ILI and its global affiliates have trained over 39,400 officials, managers, and practitioners- from 186 countries- since it held its first seminar in 1971.
Financial law is the law and regulation of the commercial banking, capital markets, insurance, derivatives and investment management sectors. Understanding financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally. Financial law forms a substantial portion of commercial law, and notably a substantial proportion of the global economy, and legal billables are dependent on sound and clear legal policy pertaining to financial transactions. Therefore financial law as the law for financial industries involves public and private law matters. Understanding the legal implications of transactions and structures such as an indemnity, or overdraft is crucial to appreciating their effect in financial transactions. This is the core of financial law. Thus, financial law draws a narrower distinction than commercial or corporate law by focusing primarily on financial transactions, the financial market, and its participants; for example, the sale of goods may be part of commercial law but is not financial law. Financial law may be understood as being formed of three overarching methods, or pillars of law formation and categorised into five transaction silos which form the various financial positions prevalent in finance.
The Whitney R. Harris World Law Institute at Washington University School of Law, established in 2000 as the Institute for Global Legal Studies, serves as a center for instruction and research in international and comparative law.
Stephen M. Sheppard is an American professor of law, legal historian, and editor. He is Dean Emeritus, and Charles E. Cantú Distinguished Professor of Law Emeritus at St. Mary's University School of Law, in San Antonio, Texas.
S&L Advocates is a Ugandan law firm headquartered in Kampala, the capital city of Uganda. It is a leading business law firm that was founded in 1980 by Paulo Sebalu and Godfrey Serunkuma Lule. The firm is a member of DLA Piper and the DLA Piper Africa Group. The firm's advocates are members of various professional bodies, including the International Bar Association, the Commonwealth Lawyers Association, the East African Law Society and the Uganda Law Society.
Charles ("Chuck") W. Mooney Jr. is the Charles A. Heimbold, Jr. Professor of Law at the University of Pennsylvania Law School, as well as the former interim Dean of the law school.
Henry Harfield was an American lawyer with the New York law firm of Shearman & Sterling, representing Citibank. He developed the legal framework for certificates of deposit introduced as a banking product by his client, Citibank, in 1961.
