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BLOM ahead in Dar spar A British court has ruled that Kuwait’s Investment Dar should pay back a $10.7 million principal to BLOM Bank, after the Lebanese bank initiated a lawsuit last year to recoup its 2007 investment with 5 percent interest. Investment Dar has refused to comply, claiming the wakala Islamic contract was not compliant with its sharia law charter and thus could not be executed, since the 5 percent return on the principal could be interpreted as interest payment, which is illegal under sharia law. The court has not yet decided on the issue of the extra interest payment, as the case is still ongoing. The Kuwaiti firm’s supervisory board, which assures that contracts agree with the Islamic charter, held a meeting on May 22 and confirmed that the disputed wakala contract was indeed valid and that Investment Dar court claims are without merit. As investors in the