Islamic Development Bank proposes “Mega Islamic Bank”
The Islamic Development Bank (IDB), the financial jihad wing of the Organization for Islamic Cooperation (the world’s foremost Islamic imperialist organization), is planning something that sure sounds ominous: a “Mega Islamic Bank.”
One of the stated purposes behind such an institution is to develop products to allow Shariah Finance to gain more ground in world stock markets. Right now, Shariah Finance is weighted substantially toward the debt markets with Islamic bonds (sukuk) becoming a greater factor every day in financial dawah operations. By waving petrodollars in the faces of those wishing to find creditors in the Islamic world, the financial jihadists can use sukuk as a Trojan horse to compel Westerners to accommodate Shariah compliance.
Should the financial jihadists develop similar instruments for the equity markets, their reach and influence–and ability to spread Shariah into the non-Muslim world will be exponentially greater.
This is the one obvious impact of such a Mega Islamic Bank. There will no doubt be others. This development bears watching.