The Goldman Sachs Sukuk Fiasco and Shari`a Scholars' Reputations

Wednesday, 8 February 2012 18:14 by Taha

Here is another article from noted IF journalist, Mushtak Parker, on the controversial proposed Goldman Sachs' sukuk. While the issues at play are more complex than the journalistic treatment of this sukuk makes them seem (they always are!), Parker does make some interesting points that sector watchers should have on their radars. Specifically, those of us who act as Shari`a advisors in the sector, sit on international Shari`ah Boards, etc need to constantly be on guard so as to safeguard our reputations against reputational attacks like the attacks that have been launched during this controversy. Another takeway: Because there is such a low level of familiarity with fiqh among non-specialists, journalists and even practitioners in the sector, it becomes possible/much easier for doubts to be raised (correctly or incorrectly) about the activity of Shari`a experts in the sector (Thanks to Sh Moustafa Kassam for this last point).

 

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