Sharia and sharia alike
Opinion on whether derivatives comply with sharia has split scholars in Islamic financial markets. Mohamad Nedal Alchaar, secretary-general of the Accounting and Auditing Organization for Islamic Financial Institutions, talks to Alastair Marsh about its role in helping to standardise the market
The range of financial products available to Middle Eastern investors has expanded significantly in recent years. A combination of cash-rich buyers in the region looking for new ways to boost returns and a large number of local and international banks lining up to help them achieve that has resulted in the proliferation of instruments marketed as sharia (Islamic law)-compliant, including some with
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