The article linked below is one of the strangest we have seen.

Written for The Guardian by Imaduddin Ahmed, the article proposes that a ratings system be developed for sovereign Islamic bonds, known as sukuk.

The purpose of such a rating system would be to identify those nations with economies that are most shariah-compliant.

The author suggests a litany of criteria for such a rating system and then reveals that not a single Islamic nation would qualify due to a variety of ethical and other faults. This comes as no surprise to SFW readers, since we have known for more than two years now that the country that dominates shariah finance is Iran, a nation with dismal ethics, human rights and the world’s leading sponsor of terrorism.

What is essentially being pointed out here is that the Shariah that some idealists like to believe exists actually does not exist anywhere in the world.

http://www.guardian.co.uk/commentisfree/belief/2011/feb/02/sharia-compliant-economy-sukuk-ratings

 

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