Both Middle Eastern and Western banks spend much time analyzing Islamic financial law these days, as they create instruments that comply with religious rules.

FORBES: Magazine Article

Banking scholars also argue that Islamic law blocked indigenous financial modernization in Muslim countries because of an inheritance system that restrained capital accumulation, inhibitions on pooling resources that discouraged investment diversification, and a traditional aversion to the concept of legal personhood for corporations, which hampered the development of financial entities.

FORBES: Magazine Article

These are the top-tier Islamic scholars whose stamp of approval is required before the world's banks can market a new financial product as being consistent with Islamic law.

FORBES: Magazine Article

First of all, it can take 15 years of studying Islamic law--and years more of financial training--before one can make a ruling with any authority.

FORBES: Magazine Article

AIG, which is now a government owned company, engages in SCF, which subjects certain financial activities, including investments, to the dictates of Islamic law and the Islamic religion.

CENTERFORSECURITYPOLICY: Center For Security Policy

The South Dakota state legislature is currently in the process of adopting several new bills that seek to limit the applicability of Islamic (or Shariah) law by its courts, including in connection with otherwise valid financial transactions.

FORBES: South Dakota's Ill-Considered Attack On Islamic Financing

Whatever the status of AIG's takaful products under Islamic law, the U.S. government now has a vested interest in their financial success.

CENTERFORSECURITYPOLICY: Uncle Shariah