Aspects of national resources contracts, investment and finance at sharia and Arab secular laws: a comparative study (Ph.D. Thesis)

This study examines the application of Islamic law within the mineral industry and pertaining to natural resources rights. Islamic law allows for state intervention in instances such as public interest concerns, changed circumstances (or Darrurah) and upon payment of just compensation in advance. Non-Muslim investors should adhere to certain legal issues, including riba and the legal status of underground minerals. An Islamic state has sovereign right over the natural resources within its territory, similar to the protections granted in the United Nations General Assembly Resolutions on modern states and the Geneva Convention (1958) on coastal states. Contemporary Muslim jurists have the right to introduce new financial methods suited for modern business needs. Muslim countries should unite to establish regulations following from the energy industry settlement of disputes. A permanent arbitral judiciary should be established with exclusive and comprehensive jurisdiction to help to im