About

The image and perceptions of shari‘a (Islamic law) is negative in many quarters of the contemporary world and the media.

However this should not obscure the fact that shari‘a compliant finance has a substantial record of achievement. The World Economic Forum provides an introduction to this sector. In London alone it has helped fund:

  • the Shard’s construction
  • Chelsea Barracks re-development
  • Battersea Power Station re-development
  • Harrods
  • and more.

The second largest segment of the world’s population is the Muslim population. Muslims:

  • are a majority in 49 countries
  • number over 1.6 billion
  • have a median age of 23 — a young, rapidly growing demographic
  • by 2050 this population is projected to comprise a third of the world’s total (2.76 billion).

Brexit represents an opportunity in particular for UK based Islamic finance.

The provision of financial services and investment compliant with Islamic law is now big business. Banks, insurance companies, financial institutions, and supporting service providers (corporate, accountancy, legal), as well as governments must capitalise upon and meet the need for shari‘a compliant finance, banking, investment and development.

Based in London, IDRAK Ltd’s aim is to help them meet the challenge and to make the most of this opportunity.

The Director of IDRAK, Scott Morrison, speaks about sukuk, an Islamic investment certificate (at Dentons, in the City of London, on 28 September 2017):

Scott is the author of  The Law of Sukuk: Shari’a Compliant Securities. He is a regular contributor to the Journal of International Banking Law and Regulation; he has written for Practical Law Magazine, and Counsel. A barrister (Gray’s Inn, 2012) and PhD (Columbia University, 2004) Scott has worked in Dubai and Abu Dhabi (UAE), as well as London, Oxford and New York. He was a Fulbright scholar in Turkey and the Maldives and has also lectured on Islamic law and finance in Mauritius, Qatar and Japan.

IDRAK Ltd offers the following services in relation to all aspects of Islamic banking and finance, worldwide:

  • Professional advising and consulting
  • Bespoke informational sessions and programmes
  • Drafting and reviewing documentation
  • Product structuring
  • Research, analysis, risk and forecasting
  • Alternative dispute resolution

contact@idrakltd.com

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