CONCEPT AND APPLICATION OF SHARIAH FOR THE CONSTRUCTION INDUSTRY: SHARIAH COMPLIANCE IN CONSTRUCTION CONTRACTS, PROJECT FINANCE AND RISK MANAGEMENT

The application of Shariah compliance in business transactions continues to increase. The Asian financial crisis of 1997, global financial crisis of 2007–2008, Enron scandal and other reported ills besieging conventional business transactions have led to advocates of Shariah-compliant business transactions promoting the latter as a credible alternative. However, unlike the banking, commerce and financial sectors, the uptake by the construction sector was sluggish due to limited understanding of Shariah among the practitioners and policymakers compounded by the lack of research and publications on its application for the construction sector.

This book is intended for students, researchers, practitioners and policymakers of the construction industry as well as the related upstream and downstream activities. It offers basic theories, challenges current practices, and proposes innovative ideas on Shariah compliance and its application for the construction industry.

Readership: This book is intended for postgraduate students, researchers, policy makers, practitioners related to construction such as clients, quantity surveyors, architects, engineers, planners, project and construction managers, construction law experts, banking & financial experts.

KHAIRUDDIN Abdul Rashid, SR Dip, BSc, MSc, PhD, MRISM, BQSM is Professor at the Department of Quantity Surveying, Kulliyyah of Architecture and Environmental Design and Head, Procurement and Project Delivery System Research Unit, International Islamic University Malaysia. He is co-founder and co-editor of the Journal of Quantity Surveying and Construction Business and reviewer of several international refereed journals related to construction. Professor Khairuddin has authored, co-authored, edited and co-edited 14 books and more than 200 technical papers on quantity surveying, procurement, contract administration including Shariah-compliant and PPP/PFI.

Kiyoshi KOBAYASHI, BSc, MSc, Eng.D, is Professor at the Graduate School of Management as well as Graduate School of Engineering, Kyoto University. He is a renowned researcher in the fields of Infrastructure Management and Regional Science and a recipient of several awards including the Distinguished Research Awards by Japan Society of Civil Engineers (JSCE) and Fellow Awards by RSA International. He is the President of Japan Society of Civil Engineers, and serves on the editorial boards of international journals including the American Society of Civil Engineers. He is the author and co-editor of 65 books and over 430 academic reviewed papers.

SHARINA FARIHAH Hasan, Dip, BSc, MSc (Eng), Eng.D, is Assistant Professor at the Department of Quantity Surveying, Kulliyyah of Architecture and Environmental Design, International Islamic University Malaysia. She is an editorial board member of the Journal of Quantity Surveying and Construction Business. She has presented and published works on quantity surveying, pre-qualification of contractors, labor market and productivity, and Shariah compliance in construction. Dr Sharina has authored and co-authored more than 40 papers in books, book chapters, journal articles and proceedings.

Masamitsu ONISHI, BSc, MSc, Eng.D, is Associate Professor at the Disaster Prevention Research Institute, Kyoto University. He is interested in institutional systems related to the procurement of infrastructure services including contracting and procurement schemes particularly public-private-partnerships (PPPs) and disaster risk governance. He is a recipient of JSCE Young Researcher Award 2006 and Best Paper Award 2008. He has authored and co-authored more than 50 refereed papers and 12 books, chapters in books and proceedings.