In Defense of Islamic Finance: Three Landmark U.S. Cases

Abstract

. . several cases show promise that in judging disputes stemming from Islamic finance contracts, United States courts will uphold the purpose of the agreement. In doing so, the courts do not delve into what is considered compliant or non-compliant, or whether Islamic finance can exists within the given system, but rather they consistently conclude that the arrangements themselves are valid, both as to their given purpose and as governed by the laws of the United States.