Regular readers of SFW know that the Shariah Finance industry sees itself as a missionary arm of Islam and has sought to target non-Muslim investors all along.
There are a number of risks associated with this, with two dangers in particular that stand out:
• By getting Western investors to use Shariah-Compliant vehicles, they are actually duping them into adhering to Shariah. This allows Shariah to gain a foothold in the West from which other aspects of Shariah can creep into our culture and legal systems.
• Because a portion of the assets of a Shariah-Compliant financial institution must go to the Muslim system of tithing known as zakat, and a portion of zakat is often mandated and always at least allowed to go to those “fighting in the way of allah,” Western investors could conceivable find themselves financially supporting violent jihad.
For those reasons, we all must pay close attention to worrisome articles like this one:
http://www.topnews.in/islamic-finance-industry-eying-western-investors-2256901
