For some time London officials and UK finance community executives have expressed the intention of making London the capital of Shariah-compliant finance in the West. Now they are taking their aims to a whole new level as they contemplate pushing for the United Kingdom to issue sovereign debt in the form of Shariah-compliant bonds, known […]
Bloomberg, a leader in financial news and information, continued to demonstrate its commitment to the barbaric, medieval code of Shariah with its announcement of a new Sukuk (Shariah-compliant bond) index in Malaysia. The timing of this is especially ironic given the fact that Bloomberg depends on freedom of speech, freedom of the press and free […]
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. […]
We were heartened to learn on Friday that the Kansas senate had followed the example of the Kansas House of Representatives by voting overwhelmingly in favor of American Laws for American Courts legislation there. American Laws for American Courts (ALAC) legislation was crafted to protect the constitutional rights of Americans against the incursion of foreign […]
For some time now, SFW has documented the involvement of the financial media conglomerate Bloomberg in the Shariah-Compliant Finance industry. We have an archive of over 30 articles on the subject: https://shariahfinancewatch.org/category/bloomberg/ Last week, with great fanfare, Bloomberg announced the release of its new “comprehensive Islamic finance platform,” which firmly places Bloomberg at the forefront […]
Judicial Watch Sues Mayor Bloomberg for Records On Ground Zero Mosque
Attorneys for a public interest group that investigates and prosecutes government corruption filed a petition on Thursday with the New York State Supreme Court to compel New York City Mayor Michael Bloomberg’s office to comply with a Freedom of Information Law (FOIL) request regarding contacts between the Mayor’s office, Ground Zero Mosque Imam Feisal Abdul Rauf, and […]
Buried in the story linked below from Bloomberg news is the revelation that 2010 global sales of Sukuk are way below 2009 levels and even slightly below 2008 levels: Global sales of sukuk fell 29 percent to $13.7 billion so far this year from the same period in 2009, according to data compiled by Bloomberg. […]
“Particularly since the meltdown of the western capitalist system, there has been an increasingly large focus on the virtues of Islamic finance. Today, there is no one single provider of information that caters to the Islamic finance market. So by Bloomberg being here, we are in the process of building out an Islamic finance product. […]
Middle Eastern Islamist regimes, awash in petrodollars, are now touting Shariah Finance as the key for renewed economic growth. What this amounts to is Islamic imperialism. Whereas in the past Saudi, Kuwaiti and other oil sheikhs in the 1970s began expanding their clout by investing in Western real estate and securities markets, today they have […]
In an episode that definitively proves that truth is stranger than fiction, the International Monetary Fund has congratulated Sudan for its fiscal restraint and efforts at improving tax collection… Sudan is one of three nations on earth that practice and enforce strict Shariah, the other two being Saudi Arabia and Iran. Sudan is a state […]
Pirate Victims Finance More Attacks With $100 Million in Ransom By Robin Stringer, Gregory Viscusi and Alaric Nightingale Nov. 24 (Bloomberg) — A few years ago, Somali pirates menacing Africa’s east coast sometimes demanded tens of thousands of dollars for the safe return of a hijacked vessel and crew. Now they often seek $1 […]
There is a great deal of propaganda claiming that Islamic states have been insulated by the global financial crisis due to sharia-compliant finance. This article tells a very different story. Gulf Citizens Beg for Bailout Amid Stock Rout: Week Ahead <http://www.bloomberg.com/apps/news?pid=20601087&sid=a76KB8XETuC4&refer=home>
www.teherantimes.com By Grant Smith Oct. 15 (Bloomberg) — The Organization of Petroleum Exporting Countries, supplier of more than 40 percent of the world’s oil, lowered its 2009 demand forecast for a second month as the worst financial crisis since the 1930s threatens to send the global economy into a recession. OPEC will hold an extraordinary […]
Thailand Plans First Islamic Bonds to Tap Arab Wealth (Update1) By Suttinee Yuvejwattanawww.geocities.com Sept. 24 (Bloomberg) — Thailand plans to raise $600 million from its first sale of Islamic bonds as it seeks to attract funds from the Middle East to pay for public works. “We want to tap petrodollars as Middle East countries […]
Deutsche Bahn Seeks Sovereign Funds for IPO, Handelsblatt Says By Aaron Kirchfeld Sept. 23 (Bloomberg) — Deutsche Bahn AG, the state-owned railway, is seeking to sell shares to sovereign wealth funds in the Middle East and Asia during the initial public offering, Handelsblatt said, without saying where it got the information. Road shows in the […]
By Haris Anwar http://www.ruf.rice.edu/~elgamal/files/emirates.jpg Sept. 3 (Bloomberg) — The fastest-growing part of the global bond market is faltering, and it has nothing to do with subprime mortgages or the credit crunch. Sales of Shariah-compliant debt, which financed Dubai’s Palm development, the world’s largest man-made island and where David Beckham and Donald Trump have homes, […]
http://gannglobal.com/sneakpeek/bear_sneak_peak.gif Dubai Stocks Enter Bear Market; Emaar, Dubai Islamic Decline By Zainab Fattah Aug. 12 (Bloomberg) — Dubai stocks retreated, pushing the Dubai Financial Market General Index into a bear market, as investors speculated the emirate’s real-estate boom may slow. Emaar Properties PJSC, the largest real-estate developer in the Middle East and North Africa, fell […]
Chrysler Building May Be Wealth Fund Aberration: William Pesek Commentary by William Pesek ACTION OF THE WEEK-WRITE TO THE AUTHOR – ADDRESS BELOW, SEND HIM THE LINK TO THIS SITE, AND TEACH HIM ABOUT SHARIAH AND SHARIAH FINANCE. THIS IS A MAN WHO CLEARLY NEEDS TO BE EDUCATED. July 23 (Bloomberg) — New Yorkers, […]
Oil Rises More Than $5 to a Record on Speculation Israel May Attack Iran Crude oil and gasoline rose to records on growing concern about violence in the Middle East and supply disruptions from Brazil to Nigeria. Gazprom May Start Reselling Libyan Oil and Gas This Year, Spokesman Says OAO Gazprom may start reselling Libyan […]
By Mark Shenk http://www.bloomberg.com/apps/news?pid=20601082&sid=a44rSm5beTY8&refer=canada July 11 (Bloomberg) — Crude oil and gasoline rose to records on growing concern about violence in the Middle East and supply disruptions from Brazil to Nigeria. Oil jumped as high as $147.27 a barrel in New York after the Jerusalem Post said Israeli war planes practiced over Iraq. […]
By Tomoko Yamazaki July 7 (Bloomberg) — Dubai International Capital LLC, the asset management firm with more than $12 billion, said any investments made in 2008 will be in Asia, where economies may expand faster than the global average this year. The firm has earmarked $5 billion over the next two-to-three years for Asia, […]
Bloomberg Africa-Updates on Middle East News Stories
Middle East Stories in Newspapers June 4: Abu Dhabi in Sudan June 4 (Bloomberg) — Here is a list of stories about the Middle East from newspapers today: Abu Dhabi Plans to Develop Farmland in Sudan for Food, FT Says Abu Dhabi, one of the seven members of the United Arab Emirates, plans to […]
BAE Employees Served Subpoenas in U.S. Over Saudi Arms Deal Investigation BAE Systems Plc employees received subpoenas in the U.S. last week as part of a Department of Justice investigation into whether the company violated corruption laws in arms sales to Saudi Arabia. U.A.E., Kuwait, Saudi Stock Markets Decline; Qatar, Oman Indexes Advance United […]
Dubai Ruler Sheikh Mohammed Backs Liverpool Club Bid, FT Says By Will McSheehy April 29 (Bloomberg) — Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum, is taking a close personal interest in one of his investment companies’ attempts to buy Liverpool Football Club, the Financial Times reported, without citing anyone. Dubai International Capital LLC Chief […]
Breaking News from MoneyNews.com Arab Oilmen Blame U.S. for Pricey Crude Don’t wait for oil producers to pump the U.S. economy out of its economy dead-end, says the head of oil cartel OPEC. In fact, if want cheaper oil, fix the broken U.S. dollar, say cartel leaders. That’s because it’s the weak dollar, not oil […]
Saudi Stocks Advance for Fifth Straight Day; Bank Shares Climb By Zainab Fattah and Matthew Brown http://www.bloomberg.com/apps/news?pid=20601116&sid=aKmTgCEBu4fM&refer=africa April 26 (Bloomberg) — Saudi Arabian stocks rose for a fifth straight day, led by banks and construction companies on speculation that near-record oil prices will boost economic and earnings growth and spur government spending. Saudi […]
http://www.bloomberg.com/apps/news?pid=20601109&sid=aSUZkL801YwY&refer=home Carlyle Scrounges for Buyouts in Dubai as Rubenstein Rues Fund By Jason Kelly April 23 (Bloomberg) — It’s been a rough few months for David Rubenstein, co-founder and managing director of Carlyle Group. As the subprime crisis sent dealmaking into a tailspin last August, Carlyle barely saved its buyout of Home Depot […]
hat tip-Roberta S. Ahmadinejad Dismisses Minister as Inflation Soars (Update1) 2008-04-22 11:37 (New York) Ahmadinejad Dismisses Minister as Inflation Soars (Update1) 2008-04-22 11:37 (New York) (Adds minister’s comments in fourth paragraph.) By Ladane Nasseri April 22 (Bloomberg) — Iranian President Mahmoud Ahmadinejad dismissed his economy minister, who blamed record levels […]
Dubai International, Dubai Islamic Plan New Jordan Islamic Bank http://www.bloomberg.com/apps/news?pid=20601116&sid=arqhbPFtLRyY&refer=africa By Arif Sharif and Will McSheehy April 16 (Bloomberg) — Dubai International Capital LLC and Dubai Islamic Bank PJSC plan to start a new Islamic bank in Jordan, Dubai International’s Chief Executive Officer said. The two state-backed companies plan to “create” the new bank after […]
Europe struggles to accommodate its growing Muslim minority By Celestine Bohlen Bloomberg News Tuesday, March 25, 2008 PARIS: A French court this month upheld a weekly magazine’s right to reprint a Danish cartoon of the prophet Muhammad with a bomb in his turban. At the same time, it affirmed a lower court’s finding that the […]
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