SFW has devoted a great deal of attention to Malaysia as of late because there has been a barrage of news related to Shariah-Compliant Finance there.
It does appear that Shariah-Compliant Finance is growing by leaps and bounds in Malaysia and the growth of Shariah-Compliant Finance anywhere is absolutely nothing to celebrate.
Wider Shariah-Compliant Finance means that Shariah is being promoted in areas where it has either been dormant or has never taken hold. A little bit of Shariah is a very bad thing because it inevitably leads to more Shariah and Shariah-Compliant Finance endows the promoters of Shariah with considerable leverage in a country such as Malaysia…or Great Britain for that matter.
Will this rosy report about the growth of Shariah-Compliant Finance in Malaysia be repeated elsewhere around the world?