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Islamic Scholars Play Role in High Finance
Deal work in the Islamic world is booming -- ballooning this year more than tenfold to an estimated $750 billion. "In the last three years, the industry has gone from nascent to burgeoning," says Oliver Agha, the partner who launched DLA Piper's Islamic finance practice. But the industry is facing growing pains, with an acute shortage of lawyers and Islamic scholars who can advise companies and financial institutions on how to structure their deals so as to comply with Islamic law.