This article about the shortage of Sharia scholars in the Muslim world reveals some real problems associated with sharia finance.

First of all, the author admits that a shortage of such scholars has resulted in a compromise in the quality of sharia-compliant products. Note also that this article parrots the propaganda that sharia-compliant finance is somehow a form of “ethical” investing, with an implicit appeal to non-Muslims. This reveals that the sharia finance industry is after the West’s wealth. With regard to “ethical” standards, investors would likely be interested to know that the world’s two largest sharia-compliant financial institutions are under US and EU sanctions for their ties to terrorist financing and weapons programs. I guess it depends on one’s definition of “ethical.”

http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=250998&version=1&template_id=48&parent_id=28

 

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