Today, Muslims constitute 23% of the world’s total population, totaling nearly 1.6 billion Muslims. Population estimates project that, by 2030, Muslims will constitute 26.4% of the world’s inhabitants. Many Islamic countries are governed by Sharia law (Islamic law), but many Muslims who do not live in those countries still desire to comply with Sharia law, including their commercial transactions. As the world’s Muslim population grows, international legal institutions must adapt to provide workable solutions for commercial transactions that facilitate the application of Islamic law. Sharia law is often viewed negatively in the West because Sharia's criminal laws are seen as draconian; however, Sharia’s criminal laws can be applied separately from its financial and other civil laws.
Thomas Panighetti, I-Arbitration: Not the Newest Apple(R) Product, But Sharia Law in International Commercial Arbitration, 5 Y.B. Arb. & Mediation 287 (2013).