Don’t fear the riba - Islamic Finance - ArabianBusiness.com:

“There has always been room for disagreement within Islamic finance, but one issue has caused particular controversy in the past months.

At the recent Islamic Funds World conference held in Dubai, two top industry figures put forward opposing views on the wa’ad swap - the promise agreement with which returns from one basket of assets are swapped with returns from another. Increasingly, this mechanism is being used to give Shariah compliant investors exposure to returns from haram, or non-Shariah compliant, assets.”

(Via .)

Faraz Rabbani notes: Shaykh Yusuf Talal DeLorenzo’s position would appear far more in line with the spirit and higher goals of the Shariah, and his legal reasoning here more sound.