Another article on Shariah-Compliant Finance, and more issues ignored
Many of the articles that come out of the financial press and the mainstream media regarding Shariah-Compliant Finance (euphemistically called “Islamic Finance”) ignore the most controversial and troubling aspects of the entire movement.
The article linked below originating from the German media is no exception. It focuses on the “controversy” over sukuk, or Islamic bonds, which Mufti Taqi Usmani broadsided last year when he declared most of them unislamic.
But there are other controversies here that the journalist should have looked into. For instance: just what is Shariah in the first place? What is this doctrine which we are inviting into our lives via the financial markets? What does Shariah entail?
None of these relevant questions are asked or answered in the article.
How about Usmani himself, the sage Shariah scholar quoted in the article? Had the author bothered to do any checking at all, he would have discovered that Taqi Usmani, one of the most prominent Shariah authorities in the world of finance, is also a Jihadist with a history of hatred of Western civilization, Christianity and especially America.
Why are these subjects always ignored?