High profile Shari’ah advisory Dar Al Istithmar, which advised Goldman Sachs on its ill-fated $2 billion Sukuk programme, has closed down with most of its staff joining another firm. Most of Dar Al Istithmar’s staff have moved to Khalij Islamic, an Islamic investment boutique with offices in London and Dubai, reported Reuters.
A rift was said to develop last year between staff and shareholders. “Dar actually stopped conducting advisory business in June,” EuroWeek quotes one source as saying. “There was a difference of opinion on the future direction of the firm between shareholders and management.”……………………………………….Full Article: Source