Property & Casualty insurance giant AIG has signed up to provide backing for a Shariah-compliant commercial insurance business, the carrier announced on 23 October. AIG will provide the capital through Cobalt Underwriting, which is looking to increase its capacity for Shariah-compliant property, casualty and financial lines. AIG received US taxpayer funds in the financial crisis of […]
Does Your Financial Institution Participate in Shariah Compliant Finance?
The most common requests we receive here at SFW are questions as to whether banks or brokerage houses “are Shariah-compliant?” As a result of these numerous inquiries, for the past several weeks, we have carefully compiled a list of financial institutions active in the USA that have some form of tie to Shariah Compliant Finance. […]
WorldNetDaily has a new report out this morning about the American Freedom Law Center’s continuing legal fight over AIG’s takaful division, which is effectively subsidized by the US taxpayer due to the massive federal bailout of AIG over 3 years ago… http://www.wnd.com/2012/06/battle-against-taxpayer-funded-shariah-escalates/?cat_orig=us The federal government has effectively been able to ignore the US constitution in […]
Shariah Finance Watch editor briefs Congressional staffers on Shariah-Compliant Finance
Recently we had the opportunity to brief staff members from 10 Congressional offices on the threat of Shariah Finance. The briefing was recorded and we have posted the full 1-hour briefing here for SFW viewers… Shariah Compliant Finance and Financial Jihad
On June 1, 2012, the U.S. Court of Appeals for the Sixth Circuit ruled that a federal taxpayer lacks “standing” to challenge the government’s use of taxpayer funds to support sharia-based activities. The case, which is captioned on appeal as Murray v. United States Department of Treasury, et al., was brought by American Freedom Law Center […]
American Jewish Committee Shills for Shariah in AIG Case
It pains us to have to post this article, but this is one of the most misguided examples of bad policy that we have ever come across. The American Jewish Committee (AJC) has sided with the Treasury Department and against the Thomas More Law Center in the AIG suit, which seeks to address the fact […]
The concept of insurance in Islam is a relatively new one. Conventional insurance contracts have been considered haram (unislamic). As a result, the financial jihadists concocted their new form of Shariah-compliant insurance, known as takaful. Despite their efforts, takaful has yet to gain wide acceptance in the Islamic world. As the article below details, the […]
New York-based AIG is looking to tap in to the $4 billion Shariah-compliant insurance, or takaful, market in Malaysia. AIG formed a joint venture with Alliance Bank Malaysia Bhd in January, four months after winning a licence from Malaysia’s central bank. There are 10 Shariah-compliant insurance companies in Malaysia, with US-taxpayer owned AIG owning two, […]
Federal Judge Upholds Government Funding of Shariah Law
Last week, Judge Lawrence P. Zatkoff, a federal district court judge in Michigan, dismissed a constitutional challenge to the U.S. Government’s bailout of AIG, which used over a hundred million dollars in federal tax money to support Islamic religious indoctrination through the funding and promotion of Sharia-compliant financing (SCF). http://nation.foxnews.com/justice/2011/01/20/federal-judge-upholds-government-funding-sharia-law
Andrew McCarthy reports: American Taxpayer, Financial Jihadist
Another superb article by Andrew McCarthy of National Review… Thanks to our takeover of AIG, we now are involved in Islamic finance. It is “financial jihad,” explained Yusuf Qaradawi, the Muslim Brotherhood’s sharia compass — and the man Feisal Rauf, the brains behind the proposed Ground Zero mosque, admires as “the most well-known legal authority […]
As we have stated previously, David Yerushalmi is one of our heroes at SFW. Mr. Yerushalmi has published the most important works extant on Shariah-Compliant Finance and he has taken it upon himself to stand up for freedom and the American way of life in filing a suit against the US Treasury Department for its […]
The Continuing AIG Hellstorm: Jihad Bailout and Money Laundering
An excellent update on the progress of this landmark legal battle from Benjamin Weingarten at Citizen Economists… http://www.citizeneconomists.com/blogs/2010/02/04/the-continuing-aig-hellstorm-jihad-bailout-and-money-laundering/
Shariah finance: The deadly Jihadist weapon with a dollar sign
It is highly appropriate that SFW end 2009 by sharing the latest work from one of the true heroes of the Western world in the fight against Shariah: David Yerushalmi. Mr. Yerushalmi’s essay in the Washington Examiner provides both a primer for those unfamiliar with the issue of Shariah Finance, as well as an update […]
U.S. taxpayers funding terrorism: the ties that blind
What would you think if it was proven beyond doubt your tax money is getting into the hands of terrorists, not altogether accidentally? How would you feel if you discovered that the dollar you paid in income tax had been channeled by the federal government through a bank bailout law to Citigroup which then ‘invested’ in […]
Catastrophe – How Shariah Law Is Infiltrating The West
Dick Morris is one of the best-informed and shrewdest political observers and strategists in America. He has been an immensely helpful proponent of the Divest Terror Initiative to cut off corporate life support for the Ayatollahs and other terror sponsors. In his new book, Catastrophe, he now tackles Shariah-Compliant Finance. Below is an excellent 3 […]
Shariah-Compliant insurance, also known as takaful, has been the subject of a considerable amount of scrutiny in recent months since the US Treasury took nearly full ownership and control of insurance giant AIG, which has an active takaful division. This is because the purpose of Shariah Finance–and Shariah-Compliant insurance–is to promote shariah and Islam. It […]
A Caliphate of Toxic Assets
Alyssa A. Lappen has been writing about Shariah and Shariah-Compliant Finance for quite some time and there are few, if any, writers who are as informed on these subjects as she. Her latest work appears on FrontPageMag.com and we enthusiastically recommend it to our readers… http://www.frontpagemag.com/readArticle.aspx?ARTID=35378
Sovereign Immunity or Cover-Up?
One of America’s, and the entire West’s, great heroes against Shariah is David Yerushalmi, who, among many other things, is General Counsel of the Center for Security Policy. Mr. Yerushalmi is involved in important lawsuits against CAIR and the US Treasury Department for AIG’s promotion of Shariah through its Shariah-Compliant insurance division, AIG Takaful. Today, […]
Subsidized Shariah
Today’s editorial from The Washington Times… http://www.washingtontimes.com/news/2009/jun/01/subsidized-shariah/
http://newsweek.washingtonpost.com/onfaith/undergod/2009/05/aig_sharia_and_uncle_sam.html The Washington Post/Newsweek blog has an article on the AIG suit which we featured yesterday. The article is actually fairly well done and balanced, but the author, David Waters failed to realize an extremely important point about Shariah-Compliant Finance: According to the promoters of Shariah-Compliant Finance in the Islamic world, Shariah-Compliant Finance is in […]
http://www.saneworks.us/US-District-Ct-of-Michigan-denies-USGs-motion-to-dismiss-AIGShariah-lawsuit-newsblog-2628.htm Judge Lawrence P. Zatkoff of the US District Court for the Eastern District Court of Michigan, has denied the U.S. government’s motion to dismiss the lawsuit filed by Kevin Murray. (The full opinion may be downloaded above from this entry’s unique url.) Mr. Murray, who is represented by legal counsel David Yerushalmi and the Thomas […]
The Washington Times weighs in on Shariah-Compliant Finance
The Washington Times has a good piece on Shariah-Compliant Finance this morning, authored by Simon Roughneen. Roughneen did a good job of covering the issues involved, though I wish he had mentioned the system of zakat by name, because that is one of the aspects that makes Shariah-Compliant Finance so worrisome. When slimey enemies of […]
Dear Mufti M. Taqi Usmani…
Stephen Ranzini, Shariah-sop running University Bank, Ann Arbor A MUST READ FROM THE GOOD FOLKS AT SANE! http://www.saneworks.us/Dear-Mufti-M-Taqi-Usmani-newsblog-2514.htm
Bailout Fallout: Uncle Sam’s Shariah Board
At your service, American Taxpayer! AIG’s Shariah Advisory Board. As members of the AIG Takaful Shariah Advisory Board, they really work for you and me, the American taxpayer, ever since we the people bought an 80 percent stake in the bankrupt insurance company. How’s that for bait and switch? While we agonize over chump-change AIG bonuses, we ignore the […]
Jayme Evans has written a good article on the hypocrisy of the Treasury Department, which is talking out of both sides of its mouth on the rather inconsequential issue of AIG bonuses and the far more significant issue of taxpayer-funded Shariah via the AIG bailout… http://canadafreepress.com/index.php/article/9563 Meanwhile, over on The Lid blog, they put things […]
Richard Thompson, President and Chief Counsel of the Thomas More Law Center, commented, “Although widespread public anger has rightfully focused on bonuses AIG paid to top executives using taxpayers’ money, that anger would be at an even higher pitch if the public knew that our tax dollars were being used by AIG to promote Islam […]
Lately there has been a great deal of outrage expressed over bonuses for AIG employees (which it appears the entire government actually knew about ahead of time, despite denials to the contrary). There is a lot more to be outraged about as the federal government transfers tens of billions of dollars to AIG, like the […]
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