One of the chief concerns about Shariah-Compliant Finance surrounds the use of Shariah advisors who end up controlling a great deal of money invested in Shariah-compliant instruments and institutions.
Some of these advisors, such as Sheikh Yusuf al-Qaradawi and Mufti Taqi Usmani, have known ties to Jihadist terror groups.
But even in the cases where there are no such known ties, there is still plenty to be concerned about. For instance, there are very few of these scholars who serve on these advisory boards and they end up serving on numerous boards, creating at the very least the potential for conflicts of interest and possibly even a racketeering operation.
Money Jihad blog has more…