Islamic Financing Faces A Post-Libor Test

Law360 (May 28, 2021, 1:05 PM EDT) -- Structuring Islamic financings is an intricate task.

On the one hand, there is navigating the tax, regulatory and legal framework of the relevant jurisdiction.

Running parallel to this is Islamic Sharia, the framework that governs Islamic jurisprudence.

Any contractual agreement must be legally valid, binding and enforceable before the applicable court while simultaneously ensuring it is permissible under Islamic Sharia.

There have been many challenges — and creative solutions — over the years in facilitating the fusion of Islamic Sharia, and the latest test looming on the horizon is the impending cessation of Libor.

The Demise of Libor

Dec. 31, 2021,...

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