Private Equity and Islamic Banking!

A very interesting report on PE and islamic banking. I quote:

Core basic tenets of Islamic finance that Sharia' scholars draw upon:

• If something is immoral, one cannot profit from it
• To share reward, one must also share risk
• One cannot sell what he or she does not own
• In any transaction, one must clearly specify what he or she is buying or selling and one price is being paid

All this to be taken with a grain of piquant salt!!!