A growing market
Financial contracts companies with Islamic law are becoming increasingly common in the UK, but issues surrounding their legal enforceability are still being worked out through the courts. Mustafa Hussain reports
A recent decision by the High Court, in a case arising from a finance facility tailored to be compliant with Islamic law, illustrates both the growing trend for Islamic finance in the United Kingdom and the importance of the enforceability provisions in the contracts for such arrangements.
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