Arbitration on the increase in Islamic finance

A case against two Muslim businessmen was brought in the high court of London earlier this year. The dispute was about an arbitration process relating to a contract between the two parties. The one businessman objected to his counterpart nominating a non-Muslim arbitrator stressing that under Islamic law the arbitrator must be Muslim.
Normally arbitration regards an alternative dispute resolution to costly litigation. However in the above case, the dispute was over the arbitration process itself.

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