One of the bogus tenants of Shariah-Compliant Finance is the supposed rule that forbids investing in companies that produce weaponry.
We know from the Iranian experience that this ban only applies to companies that sell weaponry to the West, and not to companies that sell weaponry to Islamic nations, though this is never mentioned in any of the articles published in the financial media about Shariah-Compliant Finance and the lapdog media has no curiosity about the subject at all (though there are a few exceptions).
The ban on investing in companies that produce weaponry evidently does not extend to financing arrangements either. Gulf Air and Bahrain Islamic Bank have just announced a deal to finance the purchase of eight A320 airliners from Airbus. Airbus also produces tankers and airlift transport aircraft for military users around the world, but especially in Europe:
So, the next time you see an article which claims that Shariah-Compliant Finance entails a complete ban on investments involving companies that produce weaponry as part of some so-called “ethical” investing policy, don’t believe it.
It’s all part of the lies which form the foundation of Shariah-Compliant Finance in the first place…