Another shallow fluff piece on Shariah-Compliant Finance
Ace financial journalist Patrick Winn is shilling for Shariah. This time the victim is not the West, but the Orient, namely Thailand, which, by the way, has been enduring a nasty Jihadist insurgency for years now.
Here’s the cutesy headline from Winn’s propaganda piece:
Problems with your portfolio? Maybe you need help from a higher authority.
Excuse me while I go vomit.
Now here’s the subhead:
Thailand lures Middle East investment with companies free of pork, booze and usury
If Mr. Winn really thinks that this is what Shariah-Compliant Finance is all about, he obviously didn’t bother to do any digging into the issue. I suppose that would be too much like work.
Here’s a nice tidbit from the article:
The FTSE’s “All-World” index made up of more than 2,800 companies has dropped by 44 percent in the last six months. But the Sharia-vetted slice of that grouping dropped by only 40.2 percent.
I’ve got news for Mr. Winn: the FTSE Terror-Free Index has outperformed the All-World Index too. But I won’t hold my breath waiting for him to write an article about that.
After all, there are no Islamic banks conducting “missionary work” to promote terror-free investing.