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Machiavellianism in Islamic finance

Posted on 26 April 2010

From Aaawsat.com: When a financial institution is claiming that all its activities are compliant with Islamic Sharia and that it has appointed its own Sharia body to determine whether or not its products and contracts are Sharia compliant and to observe and scrutinize the institution’s activities and its accuracy with regards to Sharia law then this very institution fails to meet its obligations towards its clients and contests in a court of law the compliance of these contracts to Sharia law, this in itself contradicts Islamic Sharia.
This is all so that the institution can evade its responsibility towards its clients even though the contracts were drawn up by its own legal department and approved by its Sharia body. How can we describe such conduct? ………………………………….Full Article: Source

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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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