Shariah-Compliant Finance is based on Shariah, sometimes referred to as “Islamic law.”

This fact alone makes the issue of settling disputes in transactions involving Shariah-Compliant Finance problematic and it is an issue that the industry has not addressed and seems poised to be stalemated over.

Note also that in the article linked below that a prominent Shariah legal authority basically admits to the ultimate ambition of Shariah-Compliant Finance:

“We need solutions that are a transition and not permanent ones until we reach the ideal and refer to the rulings of Islam,” Muddassir Siddiqui, Islamic scholar and head of Islamic finance at law firm DentonWildeSapte said.

http://www.thepeninsulaqatar.com/Display_news.asp?section=Business%5FNews&subsection=market+news&month=May2009&file=Business_News2009051982432.xml

 


 

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