07 November, 2013

Sharia money

David Cameron has announced that the Government would issue Sukuk bonds, that is to say debt instruments which comply with Islamic Sharia Law. Interestingly, the number of sukuk issued has fallen dramatically of late, after an influential Imam pronounced many of them invalid. You have to get the terms just right.

What interests me is what happens if there is a dispute: does the UK Government have to submit to foreign religious courts?

That would be an interesting development.

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