The price of oil is not the only “greaser” for the expansion of Islamic finance. Lately, a number of countries seem to be pre-empting social-movement-cum-change of regime as today’s “oil price” facilitator for welcoming Islamic finance.
But what happens to Islamic finance when alternative energy, solar, bio-mass, wind, ocean, etc., becomes a viable replacement for oil or oil simply “runs dry” or “Arab street democracy” arrives in the Muslim Opec countries, or even the anti-syariah movements in selected western countries find another “bogeyman?” (source)
