From Cpifinancial.net: In a new Special Comment, Moody’s examines the new concept of the “Shari’ah risk” associated with Islamic financial instruments and considers the implications of a recent English court decision, which highlighted a particular legal concern relating to potential disputes over Shari’ah compliance.
“Although the story is not yet over, the recent ruling in the case of Blom Bank (Blom) vs. The Investment Dar (TID) has some material implications for the Islamic finance industry,” says Khalid Howladar, a Moody’s Senior Credit Officer and author of the report……………………………………..Full Article: Source