Despite the combined efforts of Islamist regimes in the Islamic world and the appeasing government in the United Kingdom, Shariah-Compliant Finance has yet to take off in Britain.
In fact, it’s struggling and financial firms are abandoning it.
One reason is that the weapon of choice in Shariah-Compliant Finance, sukuk, also known as Islamic bonds or Shariah bonds, lack liquidity and Shariah-compliant firms lack access to liquid assets as a result of Shariah rules.
Now, the Shariah Finance industry is pushing for rules to be relaxed…something that seems like a very bad idea…
