Law firms navigate foggy Dubai regulation as UK awaits asset sale
It seems there isn’t anything in Shariah to cover the restructuring of Dubai World’s debts and assets. This has British lawyers scrambling.
Why is this a surprise?
It would seem that the lawyers should have done proper due diligence on this matter BEFORE something like this occurred.
But, then again, NO ONE in the West seems to be doing proper due diligence when it comes to Shariah Finance. Our guess is that some Western lawyers are fearful of what they might find if they really did proper due diligence…
We especially object to the way that Western media seem to be terming this problem:
“The Dubai legal system is still relatively immature and both of these measures could take years to be instituted.”
IMMATURE? If only that were the actual problem! The problem is that Shariah is ANTIQUATED, not immature!