Radical Sheik Turani 'scuppers' sukuk bond market for Shari'a compliant finance: 'too greedy'

Scupper is a nautical term for a drain. In 'Britspeak' it means to sink a vessel or proposition. Radical Sheik Muhammad Taqi Usmani, who heads the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions, basically 'scuppered' the burgeoning sukuk or Shari'a compliant bond market. He thought the 'boom' in sukuk bonds was 'too greed', didn't conform with Quranic standards, so he basically drained the market.

Note what this Financial Times report said: ...