By Frederik Richter
The Islamic finance industry is still searching for a stance as to what extent conventional international law should be accepted in arbitration cases, Islamic scholars said on Monday.Many Islamic finance products and contracts are being scrutinized in courts for the first time during the current global economic downturn, after the industry got caught up in last year's global liquidity freeze and now finds itself exposed to slumping real estate markets in the Gulf Arab region. (more)
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