At SFW we have said for a long time that Shariah-Compliant Finance and Shariah Banking are contrary to the principles of free enterprise. In fact, they are prime examples of centralized control of the economy.
The latest proof comes from Indonesia, the most populous Muslim nation on earth, where the central government is leading the charge to create a Shariah bank to “serve” the “needs” of the people…
The government is working on an ambitious plan to establish a sizeable sharia bank to tap into the Islamic banking potential in the country, as existing sharia banks remain unable to benefit from the
significant market potential.
Note that the marketplace itself has not embraced Shariah, so now the government is stepping in to give the marketplace much more of what it has already indicated it does not want…the very epitome of central economic planning…
