Monday, April 27, 2009

Wakala, apala

Somebody asked what a wakala is structure today.

We wafafa-ed it over to the Islamic department, and got them to do a brief 10-min explanation to us, and suddenly we're all experts on the subject.

And it isn't a structure per se, actually. It's a supporting arrangement whereby a transaction party is appointed as a wakeel, or agent for the purposes of carrying out the transaction under the relevant scope of duties allowed for in the various Islamic structures.

Damn good bullshitters orators we are, too.

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