One of the most troubling and controversial aspects of Shariah-Compliant Finance is the system of zakat that plays a key role for Shariah-compliance.
Zakat is a system of tithing in Islam, except that it goes way beyond what Westerners think of as “tithing” or “alms giving.”
While some in the Shariah Finance industry deny that there is any connection between Shariah-Compliant Finance and zakat or that there is anything to worry about in zakat, there is ample evidence that the Shariah Finance industry does promote and facilitate zakat and that there are troubling aspects of zakat in support of violent Jihad.
The latest evidence that the Shariah Finance industry promotes zakat comes to us from the Islamic Bank of Britain, which is putting on an event promoting zakat:
As for evidence of the troubling aspects of zakat in support of Jihad, we call your attention to one of our earlier posts on the subject…