Muslims in South Africa live within the framework of a Western economy in which the notion of interest plays a pivotal role. This system does not seem to comply with the strict interpretation of Islamic law, since the Quran prohibits any dealings on the basis of interest and strongly condemns those who continue to deal in interest-based transactions, warning them of a “notice of war from Allah and His Apostle”. Muslims are therefore faced with the dilemma of either participating in the current prevailing economic system and thereby violating the Quranic injunctions prohibiting interest or Riba, or completely withdrawing from participation in this system and conducting their business transactions in accordance with Islamic injunctions. This study is an attempt to examine whether an Islamic banking enterprise within the greater Tshwane area could survive and even flourish in the long term if it were operating within the parameters of Islamic law, thus in the absence of the interest factor. The research methodology employed was that of qualitative research, and the study consists of both a literature and an empirical study. It became evident from the literature review that a bank’s survival within the Western economic order depends on the confidence that its depositors have in it. In an Islamic economic system the ethical and legal components distinguish it from other systems. The most striking feature of the Islamic banking environment is the so-called profit and loss sharing system (PLS). The literature study was complemented by an empirical study. Respondents were interviewed in three categories: Muslim businessmen, Islamic bankers and Islamic religious leaders. An analysis of data from the respondents revealed that they were of the opinion that there was a need for an Islamic bank in order to avoid any interest-based dealings and to operate strictly in accordance with Islamic law and principles. Based on the literature and field study a simple model of an Islamic banking enterprise was constructed which could function within the greater Tshwane area and within the South African economic context, but which would be based on Islamic Shariah principles. In constructing this model due cognisance was taken of the fact that it would prove to be a very difficult task to amend existing banking laws to provide for the easy entry and functioning of an Islamic bank. Based on the literature and empirical study it was concluded that to provide for the easy entry and functioning of an Islamic banking enterprise, it should not be structured or named as a bank but rather as a finance company which would then be able to offer most of the services that are offered by traditional banks but without having to comply with the strict regulations as applicable to traditional banks. The dissertation’s final conclusion and recommendation was thus that an Islamic bank should operate not as a bank but as a finance company, thereby accomplishing its pivotal role to enable Muslims to use these indispensable services successfully while complying wholly with Islamic Shariah law. / PhD (Business Management), North-West University, Vaal Triangle Campus, 2013

Saudi Arabia and Islam have had a very close relationship since the establishment of Saudi Arabia. Thus, Saudi Arabia chose Islam to govern all its laws. Since 1952, with the discovery of oil, the country has witnessed a huge development including the establishment of the Saudi Arabian Monetary Authority (SAMA) as a Central Bank. SAMA was expected to only allow financial activities that did not conflict with the teachings of Islamic law, as stated in its Charter. However, since its existence, SAMA has supervised and licensed conventional banks that charge Riba (interest or usury) and all the regulations made by SAMA have been designed to deal with conventional banks. Consequently, there is a difference between the law, Islamic law, and the practice. Over the years a dramatic improvement in Islamic finance has been realised. Many countries and international organisations that specialised in Islamic finance have set especial regulations that suit such finance. Nonetheless, Saudi Arabia as a regulatory body preferred not to join this trend and continued adopting and practising the same regulations that were made for conventional finance. This thesis seeks to develop the regulatory framework towards Islamic finance by sheding light on the legal challenges and difficulties that may encounter Islamic finance in Saudi Arabia, which may prevent the Kingdom of Saudi Arabia from being the leading country for developing Islamic finance. To help in identifying these challenges, an Islamic financial product Sukuk (Islamic bonds) is chosen to be a case study to show some of the challenges in practice. The thesis firstly discusses Islamic principles toward finance, then the legal environment of Saudi Arabia and how Islamic finance is practised in the Kingdom. It then introduces the new development in the legal environment in response to the Saudi Vision 2030 which can be a tool to help solving the obsricales that Saudi Arabia is encountering. Then the thesis discusses some challenges related to sharia boards in financial institutions, such as not having sharia governance as part of the corporate governance of financial institutions that market their products as being compliant with sharia law; in addition, the absence of a Central Sharia Board that should help in ensuring the conformity of financial products to sharia law. The thesis proposes that the regulators should develop and adopt especial regulations framework that could help the development of Islamic finance. The thesis defines Sukuk and shows how it differs from other financial instruments in conventional finance. Then, it identifies some of the challenges that face Sukuk and its development in the country. Moreover, it looks at a very recent development in the Saudi legal system, which is in response to the Saudi Vision 2030 and the recent interest that was shown by decision-makers, such as the Chairman of the CMA, the Minister of Commerce and Industry, the Deputy Minister for Internal Trade, and also both the Governor and Vice-Governor of the SAMA, in response to the Vision 2030 which could contribute to the development of Islamic finance. As far as the researcher is aware, hardly any studies have addressed this issue with respect to the new development that Saudi Arabia is currently witnessing in response to the Saudi Vision 2030 and the recent developments taking place in neighbouring countries which broadly share similar cultural and religious values. Finally, the thesis proposes some recommendations to develop Islamic finance including some guidelines for establishing a Central Sharia Board, and also, a sharia supervisory governance for Islamic financial institutions which should have a positive effect on Islamic finance in the country.

Muslims in South Africa live within the framework of a Western economy in which the notion of interest plays a pivotal role. This system does not seem to comply with the strict interpretation of Islamic law, since the Quran prohibits any dealings on the basis of interest and strongly condemns those who continue to deal in interest-based transactions, warning them of a “notice of war from Allah and His Apostle”. Muslims are therefore faced with the dilemma of either participating in the current prevailing economic system and thereby violating the Quranic injunctions prohibiting interest or Riba, or completely withdrawing from participation in this system and conducting their business transactions in accordance with Islamic injunctions. This study is an attempt to examine whether an Islamic banking enterprise within the greater Tshwane area could survive and even flourish in the long term if it were operating within the parameters of Islamic law, thus in the absence of the interest factor. The research methodology employed was that of qualitative research, and the study consists of both a literature and an empirical study. It became evident from the literature review that a bank’s survival within the Western economic order depends on the confidence that its depositors have in it. In an Islamic economic system the ethical and legal components distinguish it from other systems. The most striking feature of the Islamic banking environment is the so-called profit and loss sharing system (PLS). The literature study was complemented by an empirical study. Respondents were interviewed in three categories: Muslim businessmen, Islamic bankers and Islamic religious leaders. An analysis of data from the respondents revealed that they were of the opinion that there was a need for an Islamic bank in order to avoid any interest-based dealings and to operate strictly in accordance with Islamic law and principles. Based on the literature and field study a simple model of an Islamic banking enterprise was constructed which could function within the greater Tshwane area and within the South African economic context, but which would be based on Islamic Shariah principles. In constructing this model due cognisance was taken of the fact that it would prove to be a very difficult task to amend existing banking laws to provide for the easy entry and functioning of an Islamic bank. Based on the literature and empirical study it was concluded that to provide for the easy entry and functioning of an Islamic banking enterprise, it should not be structured or named as a bank but rather as a finance company which would then be able to offer most of the services that are offered by traditional banks but without having to comply with the strict regulations as applicable to traditional banks. The dissertation’s final conclusion and recommendation was thus that an Islamic bank should operate not as a bank but as a finance company, thereby accomplishing its pivotal role to enable Muslims to use these indispensable services successfully while complying wholly with Islamic Shariah law. / PhD (Business Management), North-West University, Vaal Triangle Campus, 2013

Magister Legum - LLM / This mini-thesis is based on the presumption that the Danish cartoons and the anti-Muslim clip posted on YouTube as forms of expression, ridiculed the religious beliefs and practices of Muslims which in turn affected the exercise of religious freedom as it violated the dignity of the bearers of the right to freedom of religion and therefore a conflict between the right to freedom of religion and freedom of expression exists. The above incidence of conflict between the right to freedom of religion and freedom of expression involves infringing the freedom of religion of the Islamic community. Blasphemy in Islam is speech that is insulting to God, but during the course of Muslim history it has become increasingly linked with insult to the Prophet Muhammad. In Islam the depiction of the Prophet Muhammad in any way is strictly forbidden and is considered blasphemous.

"Every country has religious minorities. Any study of religious minorities and the protections afforded to them must also examine the significance of minorities per se. Minorities have no internationally accepted definition. Definitions are either broad and with little specificity or narrow and exclusive. Generally, two trends with regard to minority rights can be observed. On the one hand, in many countries, a comprehensive system of the legal protection of minorities has been introduced. Here the biggest problems stem from the difference between formal and informal rights. On the other hand, a number of countries have not legally committed themselves to the protection of minorities; ranging from inadequate safeguards to non-recognition of the minority. National minorities have received broad, although not well-differentiated, reporting in the international media and attention in international organisations and its impact on the discourse on religious rights have been minimal. However, minority religious rights have featured less significantly on the public agenda. The implications of the status of national minorities and religious groups are that many minorities believe that the majority group generally receive privileged status in state structures, while the minorities are viewed with suspicion. The issue of religious representation and safeguards arose within the Constitution of the Republic of Kenya ("Kenyan Constitution") where there is a recently concluded Constitutional Review Commission that had the Christian majority object to the "excessive protection" being granted to the Muslim minority. There was a huge debate as to the extent of inclusion of Sharia in the resultant draft constitution as well as the protection of fundamental principles of human rights and Islam. The question thus arises, should one apply Sharia or enshrine it in the constitution of a country, or will this involve overprotection that may lead to long-term exploitation of the law by the minority. The Arab Republic of Egypt ("Egypt") and the Republic of Kenya ("Kenya") have been chosen as case studies as they are interesting reflections of the development of states in Africa: Kenya with a Muslim minority maintaining a hold on the application of Islamic law where there is a Christian majority, while in Egypt the Copt and Shia Muslim populations are trying to assimilate into the state. Sharia is of imporance both to Kenya and Egypt. In Egypt the entire legal system is premised on the constitutional provision that Sharia is the principle source of law, thus some religious minorities in Egypt look for ways to maintain their identity and circumvent the application of Sharia provisions. Kenya, with a Muslim religious minority, is grappling with the concept of Sharia and how far it should apply to Muslims in a country. Thus these two countries have an inverse mirror image problem of each other as between the two major world religouns, Christianity and Islam. ... Chapter one sets out the content of the research, identifies the problem and applies the methodology. Chapter two discusses the international and regional law on religious minorities with a regional emphasis on African and the Arab region. Chapter three discusses the Islamic law on religious minorities, both Muslim minorities in non-Muslim states and non-Muslim minorities in Muslim states. Chapter four will focus on case studies comparing the protection accorded to the Muslims in Kenya with the Copts in Egypt, and analysing the extent to which Kenya and Egpyt have complied with international and regional law. Chapter five will set out recommendations and conclusions." -- Introduction. / Prepared under the supervision of Dr. Naz Modirzadeh at the Department of Political Sciences, School of Humanities and Social Sciences, The American University in Cairo, Egypt / Thesis (LLM (Human Rights and Democratisation in Africa)) -- University of Pretoria, 2004. / http://www.chr.up.ac.za/academic_pro/llm1/dissertations.html / Centre for Human Rights / LLM

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