Eric Meyer is the newest figure in Islamic finance and one of the most unusual. A youthful 42-year-old Catholic New England fund manager turned hedge-fund manager, turned venture capitalist, turned Islamic finance opportunist, his attempt to launch a Shariah-compliant hedge fund is causing a big stir in a small pond.
Shariah-compliant hedge funds are a contradiction to many Muslims. Everything about them seems to violate core Islamic finance principles. Money has no intrinsic value in Islamic finance so securities have to represent real assets and trading them for anything other than their face value is highly questionable.
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