Currently there is only limited application of Islamic Commercial Law in selective sectors only in the Muslim world. The Islamic Commercial Law has attained significant importance, especially in the last couple of years as while the world has been reeling from the failure of the mortgage and housing markets and the financial/ capital markets, the sectors that run under the Islamic Commercial Law have not been affected by the crisis. This is making Islamic Commercial Law increasingly attractive for non Muslim as well as Muslim countries alike.
Therefore the non Muslim countries are also adopting the Islamic Commercial Law for attaining strategic advantage. However as with everything else, some of the communities and public is against the adoption of the Islamic Commercial Law as it requires adoption of the Shariah code which is perceived as being restrictive, and not kind to the rights of humans specially the women and children according to popular opinion in the west.