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Islamic Finance Briefing - Categorized | Emerging Trends, Finance more

“Rock star” scholars a risk for Islamic finance

Posted on 01 March 2012

The controversy over the Goldman sukuk illustrates some of the weaknesses of the Islamic finance industry. These are leading to growing pressure for reform of the scholar system, though the power of entrenched interests, and the difficulty of coordinating policy in an industry where authority is spread across the Middle East and southeast Asia, may slow any change.
Scholars command great influence but their opinions, lacking definitive legal sanction, are often challenged, creating an uncertain regulatory environment………………………………………..Full Article: Source

 
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