Bank Sarasin-Alpen (ME) Limited, a subsidiary of Bank Sarasin & Co. Ltd, a leading Swiss private bank recently announced the publication of its “Islamic Wealth Management Report 2010.” Evidently, Bank Sarasin has joined the financial jihad, since its report parrots the already discredited claim that Shariah-compliance provides insulation against the forces of the business cycle…This […]
This week a group of British Shariah-Compliant Banks teamed with government entities to launch a lobbying organization to promote Shariah Finance in Great Britain and push for the British government to issue an Islamic bond (better known as Sukuk). There is so much wrong here that it almost defies the imagination. First of all the […]
Thomson Reuters has launched a new service that caters to the Shariah-Compliant Finance industry, a gateway that is totally dedicated to Shariah… http://www.thedailynewsegypt.com/article.aspx?ArticleID=28780
A Qatar Islamic Bank-led joint venture will sell Shariah-based retail banking products in France. QIB has signed a memorandum of understanding with BPCE, France’s second largest banking group, to establish a joint venture financial institution that will develop and market Shariah-based retail banking products in the European country. “We have big plans for France and […]
Regular readers of SFW know that the Shariah Finance industry sees itself as a missionary arm of Islam and has sought to target non-Muslim investors all along. There are a number of risks associated with this, with two dangers in particular that stand out: • By getting Western investors to use Shariah-Compliant vehicles, they are […]
Oxford Analytica Continues to Shill for Shariah
The economic consultancy Oxford Analytica has frequently used its space on Forbes.com to promote Shariah-Compliant Finance. We have pointed this out on SFW in the past: https://shariahfinancewatch.org/?s=Oxford+Analytica Oxford Analytica has taken yet another step to promote financial jihad with an article on Forbes.com. This new article is so overrun with troubling and disturbing aspects that […]
Dow Jones has been shilling for Shariah-Compliant Finance for some time now. After all, the Dow Jones Islamic Index employed the Jihadist Shariah scholar Taqi Usmani as chair of its Shariah advisory board for a long time before rival Investors Business Daily exposed them. Now the flagship Wall Street Journal has published a piece on […]
Financial Jihadists Target Switzerland
Switzerland, which, by referendum, took a symbolic stand against the stealth jihad undermining and infiltrating Western civilization a few months ago with their ban on minarets, is now being targeted by the financial jihadists, who are “urging” the Swiss to embrace Shariah-Compliant finance… http://www.reuters.com/article/idUSTRE61H2LY20100218?rpc=401&feedType=RSS&feedName=summitNews&rpc=401
Islamic finance system urged for Guernsey
Guernsey, one of the Channel Islands between Great Britain and France, has a semi-autonomous political and economic system, but maintains close official relations with the United Kingdom. Unfortunately, someone in Guernsey thinks it’s a swell idea to adopt Shariah-compliant finance for its financial system…the last time a foreign totalitarian doctrine was in control on Guernsey […]
Islamic finance eyes new regions
We’ve got good news and bad news. The good news is that the Shariah Finance industry has been disappointed in its efforts to expand into Western markets. The bad news is that they are turning to Asia and the Pacific Rim for their dawah operations… http://www.reuters.com/article/idUSTRE61H31Q20100218?rpc=401&feedType=RSS&feedName=summitNews&rpc=401
For decades, monied Arab oil interests sought investment opportunities overseas and made no mention of Shariah compliance. Wealthy Saudi princes and Kuwaiti Sheikhs bought up Western real estate, equities and businesses with gusto. Moreover, in some of these Arab nations, such as Jordan, Kuwait and even Saudi Arabia, Shariah-compliance was a minor factor on the […]
To follow up a story we’ve already reported on twice, the UAE’s efforts to infiltrate Australia with Shariah Finance, we found an article which describes these activities vividly. Nearly two years ago, at an Economic Conference in Kuala Lumpur, Malaysia, several high ranking ministers from Islamic nations released a statement encouraging the “Islamic finance” industry […]
Last July, we reported on the first leg of a UAE “trade mission” to Australia whose aim it was to promote Shariah finance in Australia. That same mission is now on the second phase of its dawah operations Down Under. Ironically, virtually the entire effort is being driven by the government of Dubai, which has […]
Court Backs Muslim In Unemployment Benefits/Handshake Dispute
A Swedish court ruled Monday in favor of a Muslim man who lost unemployment benefits after refusing a female executive’s handshake, court documents indicate. Stockholm District Court ordered Sweden’s National Public Employment Agency to pay $8,000 to the man, who was withdrawn from a labor market training program after refusing the handshake at a company […]
The UK Government has proposed new regulations to support Shariah-Compliant Finance and the issuance of corporate sukuk (also known as Islamic bonds). The new regulations, entitled the “Financial Services and Markets Act 2000, Order 2010,” will make the operation of Shariah-Compliant Finance easier in the UK and facilitate the issuance of corporate sukuk. These regulations […]
AAOIFI moves to seize control of Shariah Finance
In a move that is being hailed by the Western financial media as a positive development, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has issued a series of standards and procedures for Shariah-Compliance. http://www.reuters.com/article/idUSLDE60J0WF20100120?rpc=401&feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=401 It is hoped that the AAOIFI will “harmonize” standards across the industry. If only Western journalists had bothered […]
Palisades Park Capital, a new Los Angeles-based hedge fund firm, has unveiled a new hedge fund, a Shariah-compliant vehicle called Palisades Park Multi-Strategy Fund. Interestingly, Palisades Park Capital has no web site and the firm is not listed in any online or Los Angeles-area telephone directory… http://www.hedgefund.net/publicnews/default.aspx?story=10801
Thailand Close to Debut Sukuk Issue
Shariah continues to gain a financial foothold in Thailand…Sukuk to make debut despite shabby global track record… http://www.cibafi.org/newscenter/english/Details.aspx?Id=6489&Cat=0
Thanks to SFW reader “Ramesh” we have been brought up to date on noble efforts in India to turn back the tide against Shariah Finance. First, financial jihad was dealt a blow last week when a High Court in the Indian state of Kerala halted plans to create a state-run “Islamic” bank there. In the […]
Money Talks: Deterring Libel Tourism
The Sauds are mounting a surreptitious campaign to stifle freedom of expression in the United States through “lawfare.” This is why state-level initiatives designed to protect free speech, such as those already passed in New York, California, Florida and Illinois, are so important. For information on how you can get involved in starting a Free […]
Financial Jihadists have their sights set firmly on Sri Lanka
Claiming (fraudulently we might add) that “Islamic finance” is insulated from recession, one of Bahrain’s leading financiers has traveled to Sri Lanka to plant the flag of Shariah in its financial system… http://www.dailymirror.lk/DM_BLOG/Sections/frmNewsDetailView.aspx?ARTID=72487
As we reported here on October 27th and November 2nd of 2009, the first Shariah-Compliant bank will soon open in Germany. https://shariahfinancewatch.org/category/germany/ Germany’s first Islamic bank, a unit of Kuveyt Turk Bank of Turkey, is to open its doors in early 2010 in the southern city of Mannheim by the end of March. Germany has […]
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 […]
Shariah Insurance to Spread to Italy?
The Islamization of Europe continues apace. Italian insurance giant Generali is considering a possible joint venture with the Qatar Islamic Bank (QIB) into Islamic insurance, or Takaful… http://economictimes.indiatimes.com/news/international-business/Italys-Generali-eyes-Islamic-insurance-venture/articleshow/5367250.cms?
Kuwaiti becomes member of French Institute of Islamic Finance
Kuwaiti law researcher Mohammad Al-Kandiri has become a member of the French Institute of Islamic Finance. We post this mainly because of the troubling revelation that France even HAS an Institute of Islamic Finance… http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2046893&Language=en
British university to offer degree in “Islamic Banking”
Salford University in the UK will offer a degree in Islamic Banking. Note that the course of study is not just designed for Muslims; non-Muslims are encouraged to enroll as well. This is more evidence of Shariah Finance as missionary work (dawah)…We would also refer to it as a form of Islamic Imperialism. http://www.manchestereveningnews.co.uk/news/s/1186054_islamic_banking_degree_launched?
Five years ago, Kuwait had only one Islamic bank, but by 2010, the country will have five Islamic banks. The announcement of the Central Bank of Kuwait (CBK) on Monday giving the green light for the Bank of Kuwait and the Middle East (BKME) to fully convert into an Islamic bank raises the number of […]
The Virus Spreads to Mauritius
The tiny island nation of Mauritius is the latest to succumb to Shariah finance as the Bank of Mauritius has been named to the Islamic Financial Services Board (IFSB). The reason this is worth mentioning is that Mauritius is not an Islamic nation. The financial jihadists are striving to push Shariah finance and Shariah-compliant products […]
BBC: Islamic Finance is a Dishonest Business Run by Dishonest People
The BBC has published an article by Mr. John Foster, who used to be editor of “Islamic Business & Finance” magazine. The topic of the article is described by its title: “How Sharia-Compliant is Islamic Banking?” But it is not really the topic which makes the article interesting. It is the details which make it […]
Singapore has been chosen as the host of the first Asian edition of the World Islamic Banking Conference (WIBC)… http://www.businesstimes.com.sg/sub/news/story/0,4574,362818,00.html?
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