The rise of Islamic finance agreements raise important issues in the field of Litigation. Our Litigation Solicitors in Leicester comment:
Many high street banks are starting to invoke “waiver of Shariah Defence clauses” in order to prevent borrowers claiming that agreements are contrary to Islamic Law and void. This suits British Courts who are always keen to prevent dabbling in anything Islamic and conducting validation of Sharia Law. However, British Courts should be careful to apply ‘the spirit of contract’ even if a Contract is governed by Islamic finance.
For further information about Islamic Finance you can speak to a specialist in our property department or our litigation department on (0116) 2999199