Unfortunately we overlooked an excellent article two weeks ago.
Alyssa Lappen is one of the most knowledgeable writers on Shariah and Shariah-Compliant Finance. She wrote an article for FrontPageMag.com. In this article she points out that some sukuk–or Islamic Bonds–are in fact structured in such as way that they simply cannot be classified as anything other than “junk.”
But, of course, the convoluted, opaque methodology of Shariah-Compliant Finance makes it very difficult to determine this. Many promoters of Shariah-Compliant Finance are still claiming that sukuk are “interest-free,” which is hogwash…Ms. Lappen has more details…
http://www.terrorfinance.org/the_terror_finance_blog/2009/02/investing-in-jihad-.html
