Sharia Compliant Financing Arrangements

In Albaraka Bank Ltd v Halaal Royal Snacks (Pty) Ltd, the court emphasized that, “there is nothing intrinsically wrong, unlawful or contrary to public policy in banking transactions being entered into according to the Sharia law[/Islamic Law].”[1] The court went on to point out that, “banking transactions according to Sharia law is a rapidly growing…