The aim of this study is to present a proposal to solve the problem of the absence of an independent natural representative to the holders of unrestricted investment accounts in Islamic banks, as this absence prevents them from practice their rights and protecting them completely and disruption the balance between their interests and those of Islamic banks.
In order to achieve this aim, the study Restrict rights of the holders of these accounts, and the previous efforts and proposals to representing them and practice of their rights and protections were extrapolated according to the descriptive approach. The analytical
method then showed that these efforts and proposals were insufficient to achieve the aim Despite the importance of those efforts. Finally the study tried according to the deductive and inductive approach to headway a model of a proposed a legal entity.
The study ended with a proposal entitled: (The Association of unrestricted investment account holders), together with a draft of its statute, after clarifying the justification of the proposal and its challenges and effects.
The study recommends amending the legislation in countries hosting Islamic banks, in line with the new proposal, in preparation for its adoption and work. It also calls on international bodies interested in issuing regulatory and guidance standards for Islamic financial institutions to adopt the proposal.
"The Association of Unrestricted Investment Account Holders in the Islamic Banks (A Proposed Model for the Holders’ Representation, Practicing and Protection of their Rights),"
Jordan Journal of Islamic Studies: Vol. 16
, Article 7.
Available at: https://digitalcommons.aaru.edu.jo/jois/vol16/iss4/7