America’s First Shariah-Compliant Bankruptcy
In New York, Judge Sean Lane approved Arcapita Bank’s $175 million bankruptcy loan from Goldman Sachs to pull the bankrupt Shariah-compliant entity out of receivership… There is some debate as to whether the arrangement is actually Shariah-compliant, but Arcapita’s Shariah advisory board have declared the arrangement Shariah-compliant so that’s all it takes. (Talk about a […]
Arcapita, one of the most notorious Shariah-Compliant international conglomerates, with a major office in Atlanta, Georgia, is looking for money to it can complete a “Shariah-Compliant” bankruptcy, something that would be the first of its kind in the USA. Goldman Sachs Group Inc., which is already providing Arcapita $350 million in bankruptcy exit financing, is now seeking […]
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. […]
BigPeace.com has an important article posted that details how Shariah-compliant Arcapita bank has sponsored a PBS-produced movie called Cities of Light. The movie glamorizes the Muslim Jihad that occupied the Iberian peninsula (modern-day Spain and Portugal). This movie will be premiered at, of all places, the Virginia Military Institute. Arcapita employs Mufti Taqi Usmani as […]
Arcapita to sell Church’s Chicken
Church’s Chicken, one of America’s highest profile shariah-compliant businesses, is being sold by its parent company, Bahrain-based Arcapita. Church’s became embroiled in controversy over a year ago when they were sued by the owners of one of their franchises for refusing to allow them to sell pork products as part of their breakfast menu–because pork […]
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