This week a group of British Shariah-Compliant Banks teamed with government entities to launch a lobbying organization to promote Shariah Finance in Great Britain and push for the British government to issue an Islamic bond (better known as Sukuk).
There is so much wrong here that it almost defies the imagination. First of all the government actually promoting an industry to develop an organization to lobby the government strikes us as totally absurd. How this does not represent a complete conflict of interest is beyond any reasonable explanation.
Then there is the whole problem of the British government promoting Shariah to begin with, which is exactly the actual purpose of Shariah Finance.
Winston Churchill must be spinning in his grave…
