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Castles in the sand

The issue of how Islamic the current iteration of "Islamic Finance" may be is a very complex one. My own view is that the Islamic Finance industry is being driven by non-Muslims who have a limited stake in the integrity of the product. I wouldn't lay the blame for that at the feet of Al Jadaan or Alsheikh. It is an inevitable by-product of allowing Islamic Finance developments to be driven by initiatives from London, Hong Kong and Malaysia (where the non-Muslim Chinese are heavily involved).

4-Jan-2011

8:28 am