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Revenue participation is an acceptable concept under Islamic
law and the REX is in the process of obtaining an appropriate
fatwa as to the royalty contracts and principles of REX operation.
In the case of companies or project managers wishing to access
the vast amount of Islamic investor funds, a fatwa, or Shariah
advisor issued decree, is necessary to establish that the company
or project complies with Shariah law.
These companies will agree to remain Shariah compliant and
to an annual audit to assure their continued compliance. Non-compliance
subsequent to the transaction will constitute a default under
the contract. |
