The purpose of Shariah-compliant finance is to promote Shariah and the industry has apparently concocted a new way of driving Shariah out to the non-Shariah-compliant world by establishing the world’s first Shariah-compliant Export-Import bank.
This will inject the factor of Shariah compliance into the world of international trade.
The bank is being set up by the government of Dubai. For centuries Dubai has been a trading center between Asia and the Arab world.
As more Islamic nations follow suit and set up such institutions, international trading partners will find it increasingly difficult to conduct trade with those nations without running into the issue of Shariah compliance. Through this method, we will see Shariah imposed abroad by the lure of money, similar to how the financial jihadists have used sukuk (Shariah bonds).
