Both Middle Eastern and Western banks spend much time analyzing Islamicfinanciallaw these days, as they create instruments that comply with religious rules.
Banking scholars also argue that Islamiclaw 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.
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 Islamiclaw.