posted by Christopher Holton The financial jihadists have been pushing Shariah finance in Africa for some time, as we have archived here on SFW for years. Now they are reaching into Uganda and the method they are using is from the pulpit. This shows that Shariah finance is in fact a dawa method. Also note […]
posted by Christopher W. Holton Shariah compliant finance continues to be an instrument of Islamic imperialism. No where is this more true than in Africa where, in nations like Kenya, which has a very small Muslim population, Shariah compliant financial institutions are descending upon the marketplace. http://www.islamicfinance.com/2017/06/africas-growing-islamic-finance-footprint/
posted by Christopher W. Holton Efforts by the Bank of Ghana to encourage the establishment of an Islamic bank have been dashed as the provisional license that was granted to a Saudi Arabia-based financial institution is withdrawn. Joy Business is learning that the central bank withdrew the license it gave to Makkah after the company […]
Boko Haram resorts to cattle poaching to raise funds
posted by Christopher W. Holton The savage jihadist group Boko Haram has added another method of funding jihad: cattle rustling… http://www.vanguardngr.com/2016/03/boko-haram-now-sells-stolen-cattle-to-fund-terror/
posted by Christopher W. Holton Africa is expected to see a massive population boom, many of whom will grow up Islamic. As such, demand for Islamic products and services on the continent are expected to rise in the coming years. Financing projects through Islamic financial instruments has massive potential within the African region. One such […]
Ovamba, a U.S.-based investment management firm, plans to provide borrowers in the African small-to-medium-enterprise market with Shariah-compliant financing. Marvin Cole, founder and CEO at Ovamba, said, “Going forward we believe Islamic financial instruments will provide an excellent platform for building businesses of scale.” Based in Chevy Chase, Maryland, Ovamba describes itself as Africa’s debt marketplace. http://afkinsider.com/105625/us-based-firm-promotes-sharia-financing-in-africa/
Financial Jihadists Try to Push Shariah-Compliant Finance on Uganda
by Christopher W. Holton For several years now, Africa has been a focal point of financial Jihadists and violent Jihadists alike. The violent Jihadists–Boko Haram, Al Shabaab and Al Qaeda in the Islamic Maghreb–have wreaked havoc from one end of the dark continent to the other. The financial Jihadists’ quest has been just as relentless, […]
By Christopher W. Holton Ghana is the latest developing nation to see Shariah-compliant finance surface in its fledgling financial system…Note the customary fraudulent messaging regarding “interest-free loans,” implying that Shariah banks dole out free. That is of course nonsense. Shariah-compliant loans don’t charge interest, but they do involve convoluted structures and mechanisms of fees and […]
A new, shocking film provides the first direct evidence linking ivory trafficking to terrorism. Warlords of Ivory shows the results of a year-long investigation by National Geographic reporter Bryan Christy. It documents atrocities committed against people and wildlife, on an almost unimaginable scale, by an ivory trafficking network coordinated by two of Africa’s most notorious war […]
Fifteen years seems an incredible light sentence for a Jihadist who was involved with savage terrorist organizations such as Al Qaeda, which is actively at war with the USA, and Al Shabaab, which has carried out numerous deadly, vicious attacks on civilian targets in east Africa. Nevertheless, the sentence was the maximum allowable under the […]
In Africa, where we have seen increasing conflict between Jihadists and Christian populations, Christian leaders are beginning to object to the influence of Shariah banking… The decision by the World Bank Group to push for Islamic banking as a more sustainable alternative to conventional banking practices has met opposition from some Christian leaders, who argue […]
When Washington imposed sanctions in June 2012 on Boko Haram leader Abubakar Shekau, he dismissed it as an empty gesture. Two years later, Shekau’s skepticism appears well founded: his Islamic militant group is now the biggest security threat to Africa’s top oil producer, is richer than ever, more violent and its abductions of women and […]
The Financial Jihad Spreads to Zambia
Shariah is expanding its dominance from Australia to Zambia…A to Z… Bank of Zambia Governor, Dr Michael Gondwe, this morning officially launched the Islamic Finance Guidelines in Zambia at the Radisson Blu Hotel. Dr Michael Gondwe described the launch as a landmark achievement in the history of banking in Zambia. He urged financial service providers to put in place […]
Kenya Shuts Down 15 Islamic Charities and NGOs for Supporting Terrorism
Kenya has shut down 510 non-governmental organizations (NGO), including 15 for alleged fundraising for terrorism, as part of a security crackdown following repeated terrorist attacks in the east African nation. The Kenyan government’s non-governmental organization (NGO) coordination board indicated that it had “de-registered 510 organizations for non-compliance with the law”, with some using their charitable status as a […]
Last Days Film Visit lastdaysofivory.com to get informed and take action. Either we come together now to make these the last days of ivory-funded terrorism or we witness the last days of elephants in the wild.
The Shariah finance industry has been working hard to make inroads in East Africa. There are obstacles to this quest, including the fact that many businesses in the region don’t qualify as Shariah-compliant. The article linked below provides a vague, but not totally useless, guide to what might disqualify a business from being Shariah-compliant… http://www.businessdailyafrica.com/Why-top-exchange-stocks-are-unfit-for-Sharia-investment/-/539552/2550348/-/5b16swz/-/index.html […]
Shariah financial imperialism continues to prey upon the less fortunate as well as the greedy. In this case, it is largely the less fortunate… More than 200 conventioneers in the international Shariah-compliant banking and finance industry will be gathering on the 4th & 5th of November 2014 at the Djibouti Palace Kempinski for the 3rd Annual Islamic Banking Summit Africa […]
Shariah Gaining Foothold in Africa Through Shariah Bond Offerings
African markets are starting to open to Shariah finance, primarily through governments’ debut sales of sovereign sukuk (Shariah bonds). Regimes across Africa are using Shariah bonds as a way to attract cash-rich Islamic investors, with South Africa making a $500 million issue in September and Senegal raising 100 billion CFA francs ($208 million) in June. The Tunisian government could […]
The underlying basis for Jihadist terrorism lies in Islamic doctrine, based upon the Quran, the Hadith and the Sirah. Perhaps the strictest adherents to Islamic doctrine are the Salafists, such as the Wahhabis who run Saudi Arabia. This sect of Sunni Islam spawned Al Qaeda, the Taliban and ISIS, among others. It also is responsible […]
The U.S. government is stepping up its crackdown on the illegal trafficking of wild animal products across the nation’s borders, saying some may be linked to terrorists. “Poaching in Africa is funding terrorist groups,” U.S. Trade Representative Michael Froman said last week. Terrorists are believed to be using profits from items such as rhinoceros horns […]
Within a few months Uganda’s Parliament will amend some clauses to the Financial Institutions Act 2004 to allow Islamic banking. This is banking according to Islamic principles. Supporters think this kind of banking will provide an alternative to what they consider to be high interest rates charged by commercial banking institutions. It is very important […]
The financial jihad is coming to Africa. Africa presents a high growth opportunity for Islamic banking products — more particularly in East and West Africa, given these markets are home to the largest number of Muslim residents. Nigeria has the largest Muslim population in Africawith around 80 million people. Across Sub-Saharan Africa, the number of Muslim residents is expected to […]
The central bank of Ghana says it will consider granting a license for Shariah-compliant banking…meanwhile, Shariah finance is running into understandable resistance in neighboring Nigeria… But the introduction of Islamic banking in Nigeria is bringing some divide within the country’s religious (both Christians and Muslims) leaders.A Voice of America (VOA) report July 15, 2011 indicates […]
We have long pointed out on SFW that the purpose of Shariah finance is in fact to promote Shariah. Here is an example of that at work. Shariah banking is reportedly taking hold is a big way in Ethiopia, a developing nation with a majority Christian population… http://www.6kilo.com/islamic-banking-booming-in-ethiopia-2/
Ghana is the latest country to embrace Shariah via the financial trap door and, not surprisingly, the industry is being touted as “interest-free” implying they loan out free money, which couldn’t be further from the truth… http://www.myjoyonline.com/business/2014/March-25th/interest-free-islamic-banks-to-heighten-competition-in-ghanas-banking-sector.php
Kenya Set to Overhaul Financial System to Accomodate Shariah
Kenya’s financial regulator has proposed a separate regulatory framework for Islamic financial institutions as part of a broad ten-year strategy designed to boost capital markets. Most estimates put the number of Muslims in Kenya at only about 15 percent of the population of 40 million. But Shariah-compliant finance, which is also being developed by several other […]
The Pakistani-based AlHuda Centre of Islamic Banking and Economics (CIBE) is slated to conduct a Shariah finance and banking road show of sorts across the continent of Africa. Among the countries that CIBE will be proselytizing in will be Tanzania, Tunisia, Nigeria, Kenya, Ghana, South Africa and Mauritius. https://www.zawya.com/story/AlHuda_CIBE_will_Organize_African_Islamic_Banking_and_Finance_Road_Show-ZAWYA20140224135617/ CIBE is becoming a nefarious force in the […]
Al Qaeda In Islamic Maghreb Incorporated
Forbes has just published an article about the successful funding mechanisms used by Al Qaeda in the Islamic Maghreb, which include kidnapping for ransom and money laundering alliances with drug traffickers. As we have detailed from time to time on SFW, western nations, particular European nations and Canada, have been in the habit of paying […]
Four Frenchmen held captive for three years by an Al Qaeda affiliate in Niger were reunited with their families yesterday , amid reports that a ransom of at least €20 million ($28 million) had been paid for their release. The four men were kidnapped by Al Qaeda in the Islamic Maghreb in northern Niger in […]
As we have mentioned several times on SFW, Shariah bonds, known as “sukuk,” have become the foil brandished by the financial jihadists to infiltrate Shariah into countries by using the lure of capital. According to the Wall Street Journal and Standard & Poor’s, the next target for sukuk will be Africa. http://on.wsj.com/1bpFUUT We cannot help […]
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