As noted in our previous blog and the piece in last Friday’s Front Page Magazine, Shari’a finance is growing worldwide.
The London-based ash-Sharq al-Awsat features several pieces on the issue in its business section:
One explains how the issuance of “global Islamic bonds, or sukuk, is likely to double to $100 billion this year, thanks to higher take-up of Sharia-compliant financial products.” There’s even a follow up piece to help differentiate between sukuk and debt bonds.
Another article notes how Deutsche Bank “expects demand for hedge funds that comply with Muslim law to take off in the second half of 2008.”
As our stock market tumbles and Middle East sovereign wealth funds buy up our securities, a good understanding of shari’a finance is crucial.