posted by Christopher W. Holton Shariah-compliant Finance is a key instrument of Islamic imperialism, as illustrated by the story linked below. Kenya has been targeted for a few years now by the financial jihadists. Only less than 12% of Kenyans are Muslim, yet Kenya has attracted the attention of Shariah financial institutions for several years, […]
By Christopher W. Holton Linked below is a page on the Dubai Islamic Bank web site which purports to promote and explain Shariah-compliant car loans which, ostensibly, avoid interest charges. To be completely honest, we can’t make heads or tails of it, but one thing seems readily apparent: no one at Dubai Islamic Bank is […]
The financial jihadists continue to aggressively promote Shariah finance outside of the Islamic world… Dubai Islamic Bank mandated HSBC and Standard Chartered Bank as Joint Structuring Banks and Al Hilal Bank, Dubai Islamic Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi, Noor Bank, Sharjah Islamic Bank and Standard Chartered Bank as Joint Lead […]
Mufti Muhammad Hassaan Kaleem has joined the Shariah advisory board of Dubai Islamic Bank. Kaleem is already a member of Deloitte’s Shariah advisory board and AAOIFI. Given his position with AAOIFI, it is not surprising that Kaleem is a pupil of the hate-filled, Jihadist Mufti Taqi Usmani, who chairs AAOIFI’s Shariah board and was previously […]
Money Jihad blog’s short list of Shariah banks that fund terrorism
On January 8, 2013 · In Al Qaeda, Bangaladesh, Blogroll, Dubai Islamic Bank, Emirates, HSBC, Iran, Islamic Banking, Islamic charities, Jihad, Jihadist Groups/Individuals, Jordan, Pakistan, Saudi Arabia, Shariah Banking, Sudan, Terror, Terror Funding, terrorism, Zakat
Money Jihad blog is one of the most invaluable web sites in existence for anyone who is concerned with how Jihadist terrorism is supported and funded. That is why we link to it so frequently here on SFW. Money Jihad’s latest work is a prime example of why we like the blog so much: they have […]
London mayor heads to Dubai with hat in hand, asks for more financial jihad
On February 15, 2011 · In Britain, Creeping Shariah, Da'Wah, Dubai, Dubai Investment Group, Dubai Islamic Bank, Islamic Banking, Islamic Bonds, Islamic Finance, Shariah Banking, Shariah Bonds, Shariah Finance, stealth jihad, SUKUK, United Kingdom
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 […]
Dubai brings Islamic Bonds to Europe
On September 2, 2010 · In Creeping Shariah, Dubai, Dubai Investment Group, Dubai Islamic Bank, Europe, Islamic Bonds, Islamic Finance, Islamization, Sharia Compliant, Shariah Bonds, Shariah Law, SUKUK
A Dubai based private equity firm called Millennium Private Equity Ltd, which is apparently at least partially owned by the Dubai regime, plans to use Islamic financing for venture capital in Europe after buying the first corporate sukuk in the U.K. European companies may turn more to the Middle East for capital, as the region […]
Dubai Islamic Bank reported a 33-percent drop in quarterly profit on Sunday . Dubai Islamic Bank is Dubai’s third largest bank. http://www.arabianbusiness.com/594931-dubai-islamic-bank-q2-profit-falls-33
Beleaguered UAE mortgage lender, Tamweel may be acquired by Dubai Islamic Bank, the UAE’s largest Shariah-compliant lender. http://www.kippreport.com/2010/06/dubai-islamic-bank-may-acquire-tamweel/?
Dubai Islamic Bank reports that its first quarter profits nosedived a whopping 46% compared to a year ago. Of course, you’d hardly know it from the spin contained in the article linked below, which, in the best traditions of Shariah Finance, attempts to conceal the truth by making a silk purse out of a sow’s […]
Charles Ridley, a British citizen living in Bahrain, has been charged with massively defrauding Dubai Islamic Bank. He made an impassioned plea to defend himself in court in Dubai and actually quoted from the Koran in doing so. (Evidently, Mr. Ridley, despite living in the Middle East for many years, is ignorant of the fact […]
The Spin Doctors Are Back At Work in Dubai
On February 11, 2010 · In Dubai, Dubai Islamic Bank, Islamic Banking, Islamic Finance, Shariah Banking, Shariah Finance
Old habits die hard. Last year, many Western individual and institutional investors were blindsided by the Dubai Islamic Bond Default Debacle. The lack of transparency and full disclosure which is inherent in Shariah-Compliant Finance resulted in international investors being blindsided. Now, we are treated to the news report linked below from Dubai Islamic Bank. At […]
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 […]
Despite the financial trouble plaguing Dubai, Dubai Islamic Bank is expanding operations into Jordan. Jordan now has 3 Shariah-Compliant financial institutions. (The small number should be regarded as more evidence that the recent expansion of Shariah Finance is a modern phenomenon which is symbolic of the growing influence of Jihad in all its forms in […]
Shariah finance: The deadly Jihadist weapon with a dollar sign
On December 31, 2009 · In Abul-Ala Mawdudi, AIG, Center for Security Policy, Citigroup, Creeping Shariah, Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Heros against Shariah, Islamic Banking, Islamic Bonds, Islamic charities, Islamic Economics, Islamic Finance, Islamic Law, Islamization, Jihad, Markets and Trends, Muslim Brotherhood, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Bonds, Shariah Finance, Shariah insurance, Sovereign Wealth Funds, stealth jihad, SUKUK, Takaful, Terror Funding, Zakat
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 […]
No word yet on whether or not Dubai World will be recognized for “Best Investment Scam.” Watch this space… http://www.dubaichronicle.com/news/dubai-bank-recognised-for-best-marketing-campaign-at-islamic-business-and-finance-awards-18427?
Dubai Islamic Bank (DIB) has announced the launch of the new Al Islami Infinite Credit Card, a prestigious, invitation only card available to select ultra high net worth clients. Each card is handcrafted, encrusted with a diamond and features genuine gold calligraphy. No word yet on how DIB can get away with calling this a […]
Below is a link to an article that can only be described as absurd. The article on the Trade Arabia web site points out that “Islamic” Finance is spreading and growing by leaps and bounds. This much is true and that is quite an unfortunate reality for many reasons: • The purpose of Shariah Finance […]
Dubai’s golden sands lose their luster
On December 12, 2009 · In "Ethical Investment", Abu Dhabi, Debt Bonds, Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Emirates, Investment Scams, Investment Swindles, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamic Law, Jurisprudence, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Bonds, Shariah Councils, Shariah Courts, Shariah Finance, Shariah Law, SUKUK, UAE
“Investors trapped by the financial storm in the United Arab Emirates are in unknown legal territory as they try to protect their billions.” (The Times, 10 December 2009) The Dubai default debacle demonstrates in stark detail how the lack of transparency and failure to disclose relevant facts make Shariah Finance risky. Long ago–decades ago–the rest […]
A Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica and Forbes.com
On December 12, 2009 · In Abu Dhabi, Credit Dirivatives, Debt Bonds, Defaults, Derivatives, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Emirates, Financial Institution, Hezbollah, HSBC, Investments, Iran, Islam, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamic Law, Kuwait, Lebanon, Qaradawi, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Bonds, Shariah Councils, Shariah Finance, Shariah insurance, Shariah Law, SUKUK, Takaful, Taliban, Usmani
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to replace capitalism and our free enterprise system: http://www.forbes.com/2009/12/10/islamic-finance-after-dubai-business-oxford-analytica-islamic-finance.html?feed=rss_business In fact, the article reads less like journalism and more like a press release from […]
Law firms navigate foggy Dubai regulation as UK awaits asset sale
On December 8, 2009 · In Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Islamic Banking, Islamic Bonds, Islamic Finance, Islamic Law, Shariah Banking, Shariah Bonds, Shariah Courts, Shariah Finance, Shariah Law, SUKUK, United Kingdom
It seems there isn’t anything in Shariah to cover the restructuring of Dubai World’s debts and assets. This has British lawyers scrambling. Why is this a surprise? It would seem that the lawyers should have done proper due diligence on this matter BEFORE something like this occurred. But, then again, NO ONE in the West […]
The Contagion Spreads: Qatar Islamic Bank has $15 mln exposure to Dubai World
On December 3, 2009 · In "Ethical Investment", Debt Bonds, Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Islamic Banking, Islamic Bonds, Islamic Finance, Qatar, Shariah Banking, Shariah Bonds, Shariah Finance
Qatar Islamic Bank has announced that it faces exposure in the evolving debacle emanating from Dubai. This is particularly bad news for this institution since, back in March, it was in serious enough trouble to have been bailed out by the regime in Qatar: https://shariahfinancewatch.org/2009/03/10/qatar-to-prop-up-its-banking-system/ $15 million doesn’t seem like a great deal of exposure, […]
Some in the financial world are being forced to admit that Shariah compliance offers no increased protection against crisis than any other method. Some are even admitting things like the fact that the legal systems in Islamic countries are not mature enough to support sophisticated financial derivatives, such as Sukuk (Islamic bonds). Still, in reading […]
David Yerushalmi is one of America’s foremost experts on Shariah and Shariah-Compliant Finance. Anyone with an interest in this topic should read anything and everything Mr. Yerushalmi has written on the subject. This morning SFW provides a link to his latest work as published by National Review…an especially timely piece which puts the Dubai debacle […]
Dubai Sheikh Calls International Investors A Bunch Of Suckers
On December 2, 2009 · In Debt Bonds, Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamic Law, Sharia Compliant, Sharia Products, Shariah Bonds, Shariah Finance, SUKUK
After bilking international investors out of billions of dollars, Mohammed al-Maktoum blames the investors for Dubai’s financial troubles! In a way he is right. Many Western investors have been suckered in by Shariah Finance… http://www.businessinsider.com/dubai-sheikh-calls-international-investors-a-suckers-2009-12
Shariah Standing in the Way of Creditors Getting Paid in Dubai
On December 2, 2009 · In Debt Bonds, Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Emirates, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamic Law, Sharia Compliant, Sharia Products, Shariah Bonds, Shariah Finance, Shariah Law, SUKUK
Wealthy investors flocked to the “miracle” of Dubai in recent years. Some invested in Islamic bonds, better known as Sukuk. Sukuk are investments concocted to comply with Shariah law (though there is some debate even about that). Now, the very Shariah law under which Sukuk were designed could end up swindling creditors out of a […]
Dubai in meltdown
On November 27, 2009 · In Debt Bonds, Defaults, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Emirates, Islamic Bonds, Islamic Finance, Shariah Bonds, Shariah Finance, Sovereign Wealth Funds, SUKUK, UAE
The bubble has burst in Dubai and the affliction is spreading to Western financial markets. Yesterday, US markets were closed for the Thanksgiving holiday, but other markets were open and shuddered: http://www.reuters.com/article/businessNews/idUSTRE5AN54C20091126?feedType=nl&feedName=usdai When reading the article linked just above, you may recognize the name “DP World.” This was the company that was scheming to take […]
Dubai Bank named “Best” Islamic Bank in UAE
On November 24, 2009 · In Al Qaeda, Dubai, Dubai Islamic Bank, Iran, Islamic Banking, Shariah Banking
Being named best Islamic Bank in the United Arab Emirates is an honor that Westerners should take notice of. After all, the UAE, while posing as an “ally” against Jihad, is really at best a double agent. Almost every financial institution in the UAE has some form of ties to Iranian entities and this is […]
As part of the standard practice of imposing Shariah on all people, not just Muslims, Dubai Bank has instructed that all female employees of the bank must wear Islamically-acceptable attire. A human resources employee of the bank is quoted as saying,”Our bank is Islamic and must follow Shariah in all respects, which will satisfy our […]
UAE Islamic banks’ profits decline
On August 11, 2009 · In Abu Dhabi, Dubai, Dubai Islamic Bank, Islamic Banking, Sharia Compliant, Shariah Banking
You have to read carefully to glean this information from the cheerleading article linked below, but profits at the various Islamic banks in the UAE which trade on the stock exchange are reported down (though you’d never know it from the headline): The Islamic banks listed, on the local stock markets, posted net profits of […]
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