The good folks at Money Jihad blog called our attention to this largely overlooked Jerusalem Post article in which it was revealed that one of the many anti-Israel groups masquerading as charities in the United Kingdom has let slip that it supports martyrdom operations. The name of the charity is Camden Abu Dis Friendship Association (CADFA). […]
Our only problem with this article is the fact that “legitimate” Islamic charities have customarily raised money for jihad, as required under Shariah. We can’t help but wonder whether the Brits have this right. Did these two twin brothers pose as Muslim Aid fundraisers, or could they have been actual Islamic charity fundraisers? Shabir and Shafiq […]
Gatehouse Bank, a wholesale Shariah-Compliant investment bank, has completed the acquisition of a large building which houses the Scottish Ministers National Health Service. http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=333688
Brits seek to halt legal payouts to terror suspects
The United Kingdom has paid out some £20million to terror suspects, mainly due to the need to secrecy that has prevented the government from bringing evidence in open court against the suspects, who have accused the UK government of mistreatment… Several probable Jihadis have become wealthy as a result. This money is no doubt now in […]
A terror plot targeting Kenyan tourist hotels with chemical explosives was financed by Samantha Lewthwaite, the British widow of 7/7 bomber Germaine Lindsay… http://www.telegraph.co.uk/news/worldnews/africaandindianocean/kenya/9258011/77-bomber-widow-Samantha-Lewthwaite-financed-Kenya-tourist-terror-plot.html
Seven people have been arrested in Britain on suspicion of funding overseas terrorism with money linked to smuggling of the stimulant khat. The arrests were part of an international probe into alleged terror fundraising and money-laundering. In a statement, Scotland Yard said the arrests were part of an investigation into a network suspected of illegally […]
Birmingham-based Islamic Bank of Britain has launched a new Sharia-compliant electronic International Money Transfer Service. The service, the first of its kind, operates from the bank’s branch in Coventry Road, Small Heath. The bank said it guaranteed all the funds would be handled and transferred in the proper manner. The transfer service is aimed at […]
The Jihadist organization, Hizb ut-Tahrir, whose goal is to re-establish the caliphate and have Shariah law imposed around the globe, has once again delved into the world of finance. Back in 2009, the organization called for the demise of capitalism to be replaced by an Islamic system of economics based on Shariah: https://shariahfinancewatch.org/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ Now, Hizb […]
Jihadi fundraiser to be released from prison in the UK
There is anger in Great Britain over the impending release of Abu Qatada, a terrorism suspect and Imam who was once described as Osama bin Laden’s right hand man in Europe. The Jihadist Muslim cleric is believed to have raised funds for terrorist groups and the British government has declared him a risk to national security. […]
One of the overt objectives of the financial jihadists has always been to capture the assets of non-Muslims in Shariah-compliant investments and accounts. They have used a wide variety of methods to do so. For instance, Sheikh DeLorenzo, who is on several major Shariah advisory boards in the USA and abroad, has advocated for not […]
Typical Propaganda on Islamic Bonds from Saudi State-Controlled Media
The article linked below has to be taken with a large grain of salt since it comes from the Saudi Gazette. There is nothing even resembling a free, independent press in Saudi Arabia and the Saudi royals have a huge vested interest in promoting Shariah-Compliant Finance both in the kingdom and globally. Not surprisingly, this […]
London bank launches key Shariah fund
Bank of London and the Middle East (BLME) has announced the launch of a Sharia-compliant fund which targets institutional and high net-worth investors in Gulf countries. http://www.tradearabia.com/news/BANK_201006.html
British Muslim Charged With Raising Funds for Jihadist Terrorism
A British Muslim has been charged with three counts of raising funds for terrorism. Shabaaz Hussain, 27, from east London, is accused of providing money or property for terrorism purposes on 12 April, 6 July and 3 September 2010. He is also accused of playing a part in preparing for acts of terrorism in Somalia […]
Accountants play a vital role in the world of finance. They are supposed to be the unbiased analysts and observers of data who help keep the rest of us from making egregious mistakes either based on emotion or because we simply lack the sophistication to decipher the numbers to fully understand a financial arrangement. Unfortunately, […]
The first Sharia-compliant pension fund has been launched in the UK. The fund which does not invest in companies that trade in guns, alcohol, gambling, tobacco or pornography, nor does it receive interest, has been launched by Pointon York and the Islamic Bank of Britain (IBB). Investors will be able to save in a self-invest […]
Just last week, SFW linked to a BBC video report on a new policy in the UK to cut off public funds to Muslim organizations that have been found to fund “extremism:” https://shariahfinancewatch.org/2011/06/07/britain-to-cut-off-government-funding-to-islamist-groups-that-refuse-to-renounce-extremism/ Today, by way of the intrepid Melanie Phillips, we can provide more details on just how British public funds ended up in […]
Muslim groups that refuse to renounce extremism will be cut off from government funding under revisions to counter terrorism policy. It is one of several changes to the “Prevent” strategy which will be announced by the Home Secretary Theresa May. Prevent was launched in 2007 to stop the growth of militant Islamism. Changes are likely […]
London and Luxembourg are engaged in a “battle of the listings domicile” especially for sukuk and Islamic investment funds, and its seems that the London Stock Exchange (LSE) currently has the upper hand on its counterpart in the Duchy, Luxembourg Stock Exchange. http://arabnews.com/economy/islamicfinance/article448955.ece
Unfortunately, the British continue to invite the financial jihadists into their investment houses and banks, determined that this will attract shiploads of petrodollars without impacting British culture, society and security. Before dismissing the notion that Shariah finance could introduce nefarious elements into a Western host nation, readers should remind themselves that the whole purpose of […]
The fifth annual London Sukuk Summit is scheduled to take place on the 8th – 9th of June 2011. As if to prove that the Islamization of Great Britain continues apace, the link below takes you to a British government web site promoting this upcoming event… http://www.ukti.gov.uk/investintheuk/event/129473.html
Last week we posted a brief report about how the Wikileaks documents had revealed that in 2006 the US State Department was worried about Shariah banks funneling money to Jihadist terrorist organizations. The Telegraph has a bit more detail elaborating on that subject: “…the British Government was aware of “profound shortcomings” in the regulation of […]
It sure would have been nice if these same concerns were shared by our shameful US Treasury Department, which held seminars on Shariah-Compliant Finance after Secretary of State Condoleezza Rice raised these issues… LONDON, March 15 (Reuters) – U.S. authorities expressed concerns that Britain’s growing sharia banking sector may be exploited to channel funds to […]
Stoxx has launched three Islamic finance indices to help investors benefit from the nascent shariah market in the UK, according to the firm’s chief executive. Hartmut Graf, chief executive for Stoxx, said the indices were designed to act both as a benchmark for actively managed funds, and to underlie exchange-traded funds and other investable products […]
London mayor heads to Dubai with hat in hand, asks for more financial jihad
Islamic Development Bank (IDB) President Ahmad Mohamed Ali held a meeting with the Lord Mayor of the City of London, Alderman Michael Bear. Ali, who stressed the importance of the annual coordination meetings between the two parties, commended the tangible development of IDB relations with the business community in London, which poses an international hub […]
Perhaps because Shariah banking has received such a cold reception in Great Britain, British Shariah-compliant banks are now moving into the Islamic world. It is yet to be seem how this will work out for them, since Qatar just moved to shut down the Shariah-compliant divisions of HSBC, Barclays and Standard Chartered in that country. […]
NEST is seeking to include a passive or actively managed Sharia compliant global equity investment option as part of its optional suite of investment funds in order to fully provide for the needs of scheme members. http://www.professionalpensions.com/professional-pensions/news/1938529/nest-offer-sharia-global-equity-fund
Qatar Islamic Bank targets British mid-cap market
Qatar Islamic Bank, whose Shariah advisory board is headed by the Jihadist Sheikh Yusuf al-Qaradawi, has unveiled a new lending strategy targeting small to medium-sized British companies. QIB is focusing on profitable companies whose products are in line with “Islamic” tenets, which means Shariah-compliant. Qaradawi is forbidden to enter the UK due to his ties […]
Great work by Money Jihad blog on the Zakat-Terror Finding Nexus
Over the past week, Money Jihad has posted some excellent work on the use of zakat funds for Jihad. These postings are not to be missed… 1. British Muslims are the Taliban’s Greatest Source of Revenue http://moneyjihad.wordpress.com/2010/10/22/british-muslims-are-taliban’s-“greatest-source-of-revenue”/ 2. Osama Bin Laden calls for a new mega-Islamist charity http://moneyjihad.wordpress.com/2010/10/24/just-what-the-world-needs/ 3. Zakat money flows uninterrupted to Jihadist […]
Dubai-based Millennium Private Equity Limited (MPEL) are the ultimate financiers in the transaction, which has raised financing using the musharaka (joint venture) Sukuk (Islamic bond) structure for the technology development company based in the North East of England. http://www.lawyersweekly.com.au/blogs/deals/archive/2010/08/18/norton-rose-advises-on-uk-s-first-sukuk.aspx
Barclays Capital, the investment banking arm of London-based Barclays Plc, is offering Shariah- compliant repurchase agreements to allow Islamic banks and investors manage their funds. Barclays introduced the product worldwide two weeks ago and is focusing on clients in Malaysia and the Middle East. http://www.businessweek.com/news/2010-08-18/barclays-capital-offers-islamic-repos-in-1-trillion-market.html
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