‘Methodological inversion: How Islamic finance lost its compass’; Oliver Agha published in Islamic Finance News (IFN)

Professional Associate at Outer Temple Chambers, Oliver Agha has been published in IFN’s December edition (Volume 22, Issue 50). His article is titled ‘Methodological inversion: How Islamic finance lost its compass’.

Islamic Finance News is a subscription-based publication journal, published weekly, which provides exclusive and comprehensive coverage of the global Islamic financial markets through in-house analysis and expert external contributions. Oliver Agha is a frequent contributor to the publication.

Islamic finance promises something profound: a financial system in which capital serves society, justice anchors profit and law reflects the moral architecture of the Quranic injunctions. The goal is building an economy rooted in risk-sharing, equitable distribution and real economic activity.

However, that promise remains largely unfulfilled for several reasons. One reason is its structural failure: the reverse construction of Islamic finance market structures. Instead of constructing financial products directly from Islamic first principles – partnership, agency, trade, equity participation – the industry began with conventional structures and retrofitted them to appear Islamic. This ‘methodological inversion’ has defined the modern era of Islamic finance. It has also quietly undermined its legitimacy. In his article, Oliver looks at how Islamic finance has lost is compass.

To read Oliver’s full article, click here.

Find out more

Oliver Agha is a Professional Associate at Outer Temple Chambers based in the Middle East. He specialises in the interplay between Common Law, Civil Law and Islamic Law as these different legal systems intersect in the MENAT Region. He has advised clients, including governments/quasi-governmental bodies/entities, quasi-regulators, financial and Islamic financial institutions, corporates and high net worth individuals on cross border M&As, JVs, project finance, Islamic Law, Islamic Finance, corporate/commercial and complex cross-border disputes including those that impinge on Islamic/Regional Laws. He has also advised high net worth Islamic individuals with assets spread across the World on intestate planning. 

Oliver is a frequent contributor to leading publication, Islamic Finance News.

To find out more about Oliver, email Lexie Johnson or call + 44 (0) 207 427 0801 or Dave Lovitt on +44 (0)207 353 6381.

External Publications, News 23 Dec, 2025