posted by Christopher W. Holton We have long maintained that shariah-compliant finance is a modern day Trojan horse through which Jihadists seek to embed Shariah inside the West through non-violent economic means. Nowhere has this campaign been more successful in the West than the United Kingdom. Of course, the UK has already endured a civilization […]
Former president Bill Clinton, whose wife Hillary Clinton is the Democrat nominee for president, took some $5.6 million between 2012 and 2014 from Dubai-based GEMS Education, which runs 51 Shariah schools in the Mideast having some 250,000 students. It has schools in other countries and regions, including Asia, the United Kingdom, Africa and even Chicago, […]
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 […]
More civilization suicide. This is a classic case of an elected government selling out against the interests of its own people. Canada’s Conservative government is supporting Islamic banking conferences in the Persian Gulf, with many Canadians hoping it comes to Canada. Worth $1 trillion in assets, Islamic banking is being lauded by British Prime Minister […]
Faced with Crisis, Russian Banks Jump To Shariah
Russian lenders are stepping up efforts to tap Islamic finance as international sanctions and a slump in oil prices push the world’s biggest energy exporter to the brink of a recession. Vnesheconombank, Russia’s state development bank, is seeking advice from lenders in the Middle East on how to sell its first Islamic bonds, the RIA Novosti state-news service reported […]
The Islamists know that their financial position stemming from their oil wealth gives them great leverage over the West. Make no mistake, their intention is to apply that leverage whenever possible. This has been illustrated in an example of appeasement involving a Spanish soccer club. The soccer club Real Madrid has been compelled alter its world-famous logo […]
With its financial muscle the Arab nation has become a major player on the global stage. And nowhere has the impact of that power been felt more keenly than in Britain. Qatar might be only the size of Belgium with a population a quarter of London’s but its colossal economic strength has enabled it to […]
Shariah Compliant Hotel Opens in London
London is getting its wish to become the Western world’s Shariah capital. At some point all Londoners will come to regret this, but right now some misguided leaders view these developments as a great thing. This is what is known as civilizational suicide… Staff at one of London’s trendiest destinations say they are in fear […]
Demand for Shariah Finance training from non-Muslims rose more than fourfold in the past seven years as students seek to enter the industry… http://www.bloomberg.com/news/2014-08-07/shariah-study-lures-non-muslim-students-in-asia-islamic-finance.html
The Philippine government is planning to issue Shariah-compliant bonds, or sukuk, for the first time in the predominantly Catholic nation in order to finance a number of infrastructure programs and generally raise investment from the oil-rich Middle East. For example, Qatar and the Philippines in 2012 agreed to set up a $1bn investment fund that would focus […]
Abu Dhabi Islamic Bank is weighing whether to change its name as it targets more non-Muslim customers beyond its home market. The second-biggest Shariah-compliant bank in the United Arab Emirates may change to Abu Dhabi International Bank outside the nation to lure customers and help capture a market that’s about 200-times the size of Shariah banking. The bank […]
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 […]
London Stock Exchange to Co-host Shariah Finance Seminar
QInvest, Qatar’s leading investment bank, will be hosting a Shariah Finance seminar in partnership with the London Stock Exchange in London this Friday 16thMay. London’s quest to become the Western capital of Shariah Finance continues apace, just as Shariah overall makes inroads across the UK’s legal system and culture. This is what civilizational suicide looks like…
Bank of England’s efforts to shill for Shariah escalate
There is no greater cheerleader for Shariah and financial jihad in the Western world than the elected and appointed officials of the United Kingdom… The Bank of England is studying ways to increase the number of sharia-compliant assets that Islamic financial institutions can use in their liquidity buffers, a step towards reducing concentration risks in […]
The desperate quest to retrieve petrodollars sent to oil-rich Islamic states results in individuals and institutions outside the Islamic world embracing the Islamic doctrine of Shariah, allowing it to infiltrate through the financial underbelly… The 24th meeting of the IFSB Council, hosted by Autoriti Monetari Brunei Darussalam (AMBD), was held on 27 March 2014 at the […]
Luxembourg on the Brink of Shariah-Compliance
The quest for petrodollar capital is prompting Luxembourg to issue a Shariah bond. There is still hope that Luxembourg might be brought back from the brink, however. The transaction is being scrutinized by the Council of State, a body which advises the national legislature and they’re exhibiting appropriate skepticism… “First, in the world of finance, […]
Japanese Banking Giant to Enter World of Shariah
Sumitomo Mitsui Banking Corp. (SMBC) will fully launch Shariah-compliant finance operations in Malaysia. The banking unit of SMBC has obtained a license for foreign currency-based Shariah-compliant finance services in the Malaysia, which promotes Shariah finance under a national policy. http://the-japan-news.com/news/article/0001106147
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 […]
Britain Moves Closer to First Western Issue of Shariah Bond
The UK government is a little closer to its widely anticipated issue of a sovereign sukuk, or Islamic bond. Last October in London during the World Islamic Economic Forum, British prime minister David Cameron announced the UK’s intentions of becoming the first Western country to issue a sukuk. Since then, Luxembourg and Hong Kong have […]
BreitBart.com: London is Shariah City
BreitBart.com has recognized the infiltration of Shariah into the UK via the financial underbelly in an article published last night. Excerpts and link… Britain has six “fully Islamic” banking organisations and government minsters are attempting to attract even more Sharia-compliant finance initiatives to the UK. But concerns will no doubt abound, considering the extra cost […]
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 […]
As widely reported on the web and here on SFW yesterday, the UK has decided to go ahead and issue a sovereign sukuk. In other words, the United Kingdom will issue a government security that complies with a foreign law. The UK is the first Western nation to do so and British leaders say they […]
For well over a decade, Westerners have watched with concern as the UK has become more and more Islamisized. As part of that insidious process, some 85 Shariah courts currently operate in the country as a parallel legal system. Now the British embrace of Shariah is about to become more complete. As we have reported […]
The Saudi Wahhabi-dominated Islamic Development Bank, the financial arm of the Islamic imperialist Organisation for Islamic Cooperation, continues to push for Shariah through the financial back door, this time in Turkey, where Prime Minister Erdogan no doubt lends a sympathetic ear… http://www.balkans.com/open-news.php?uniquenumber=182279
Shariah banking experts have called on the Central Bank of Egypt to tailor its policies regarding Shariah banking services to be more in line with those of Shariah banks themselves. The call came during the fourth annual conference of the Egyptian Islamic Finance Association, during which the association launched its index of shares compatible with […]
The emergence of Shariah-compliant Finance in Tunisia is hardly surprising given the emergence of the Muslim Brotherhood and Salafist factions in the wake of the so-called “Arab spring.” According to Reuters, Shariah-compliant finance could gain as much as a 40% marketshare in Tunisia. A poll in Tunisia indicates that 54% of respondents would switch their […]
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 […]
Gulf Nations to Continue Shariah-Compliant Sukuk Push
HSBC Bank, perhaps the West’s most shameful pimp for Shariah-Compliant Finance, and a serial violator of Treasury regulations regarding Iran sanctions, is reporting that the market for Shariah-Compliant bonds (known as sukuk or Islamic bonds) is set to break records in 2013 thanks to the proliferation of issues from Gulf states. Mohammed Dawood of HSBC […]
Shariah-Compliant Finance Continues its Creep into Egypt
As anticipated, Shariah-Compliant Finance is making headway into the Egyptian financial system and economy. The latest evidence comes from the announcement that the Egyptian Electricity Ministry has inked its first ever Shariah-compliant financing contract with the help of National Bank for Development (NBD) and the Abu Dhabi Islamic Bank. The $110 million deal is the first […]
Sukuk Issuance Hit $131 Billion in 2012
KFH Research reports that Shariah-compliant bond (sukuk) issuances reached $131 billion during 2012, a 54% increase over 2011. As we have reported previously on SFW, sukuk are fast becoming the weapon of choice for promoting Shariah through Shariah-Compliant Finance. Here is how that works: • As we know from historical records and contemporary statements from […]
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