In Defense of Islamic Finance: Three Landmark U.S. Cases

8 Pages Posted: 10 Sep 2012 Last revised: 13 Sep 2012

Date Written: September 10, 2012

Abstract

". . . several cases show promise that in judging disputes stemming from Islamic finance contracts, United States courts will uphold the purpose of the agreement. In doing so, the courts do not delve into what is considered compliant or non-compliant, or whether Islamic finance can exists within the given system, but rather they consistently conclude that the arrangements themselves are valid, both as to their given purpose and as governed by the laws of the United States."

Keywords: Islamic finance, Shariah-compliant finance, law and religion

Suggested Citation

Colón, Julio C., In Defense of Islamic Finance: Three Landmark U.S. Cases (September 10, 2012). Available at SSRN: https://ssrn.com/abstract=2144504 or http://dx.doi.org/10.2139/ssrn.2144504

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