Post by Sapphire Capital on Dec 7, 2013 10:46:02 GMT 4
No Sharia has no central regulatory authority beside the Quran and the other sources, it is in fact like case law, and there are like rating agencies, organizations which will look if you stay within the rules. In regards of self regulatory regime it depends where ou are, there are rules and laws in Malaysia, Pakistan, UAE, Saudi, Sudan etc, if the bank is in the US it is more or less their communities which police them, bad reputation means less business and if that would apply to Wallstreet, aeh there would be no Wallstreet, but they have us over the barrel. I'm waiting for the first set of lawsuits in this for the US
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