Muslim Arbitration Tribunal operates within the framework of English law and does not constitute a separate Islamic legal system. Under the Act they are deemed to be "arbitration tribunals". The Muslim Arbitration Tribunal has no powers to grant a divorce which is valid in English and Welsh law. A "talaq" can be granted to recognise divorce. A sharia marriage has no bearing on personal status under UK law. The Muslim Arbitration Tribunal has no jurisdiction on criminal matters but can attempt reconciliation between spouses. Dominic Grieve of the Conservative Party has stated: “If it is true that these tribunals are passing binding decisions
Sharia and securities trading call option as "extremely controversial among `traditional`" Islamic banking and finance scholars. Sharia and securities trading The Islamic banking and finance movement that developed in the late 20th century as part of the revival of Islamic identity, sought to create an alternative to conventional banking that complied with sharia (Islamic) law. Following sharia it banned from its practices "riba", (usury) — which it defined as any interest paid on all loans of money — and involvement in "haram" (forbidden) goods or services such as pork or alcohol. In addition, it also forbid gambling ("maisir") and excessive risk ("bayu al-gharar"). This