This report is especially interesting given Goldman Sachs’ shameful attempts to promote Shariah-Compliant Finance. If Goldman is willing to buy booze and women for Qaddafi, what are they willing to do for Shariah scholars? Donate to their charities? Goldman Sachs employees had an “improper” relationship with a Gadhafi-era Libyan sovereign wealth fund, including a lavish […]
Shariah bond programs from a trio of big conventional banks are set to expand the boundaries of Shariah finance, helping open the market to first-time issuers while testing the banks’ ability to win over industry purists. Since June, France’s Societe Generale, Bank of Tokyo-Mitsubishi UFJ (BTMU) and Goldman Sachs have set up such sukuk programs, aiming to […]
There is an old saying that if you lie down with dogs, you will get fleas. That’s what happened to Goldman Sachs earlier this year when Shariah advisors torpedoed a big Shariah bond deal that Goldman was trying to facilitate. Now, another Western bank is testing the same waters… http://www.tradearabia.com/news/REAL_242578.html
Arcapita, one of the most notorious Shariah-Compliant international conglomerates, with a major office in Atlanta, Georgia, is looking for money to it can complete a “Shariah-Compliant” bankruptcy, something that would be the first of its kind in the USA. Goldman Sachs Group Inc., which is already providing Arcapita $350 million in bankruptcy exit financing, is now seeking […]
Back in the first quarter of this year, SFW covered Goldman Sachs’ ill-fated sojourn into the world of Islamic bonds (sukuk). Goldman had planned on floating a $2 billion sukuk but the entire project was shot down by Shariah scholars. It now appears that Goldman Sachs can thank the infamous Jihadist Mufti Taqi Usmani for […]
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. […]
The intrepid and illustrious Joy Brighton weighs in on Goldman Sachs’ ridiculous foray into the world of Shariah-Compliant Finance. This is an excellent article that regretfully we previously overlooked… Excerpt and LINK: In September 2011, Goldman Sachs announced it would issue a $2 billion Shariah Compliant Islamic Bond derivative known as a “Sukuk” to finance […]
It’s hard to believe that a financial institution as sophisticated as Goldman Sachs could be so incredibly stupid, but the available evidence with regard to Goldman Sachs’ ill-fated venture into Sukuk (Islamic bonds) indicates that there were some real knuckleheads at the firm. We might argue that they were knuckleheads just for getting into the […]
Goldman Sachs Lies Down With Dogs and Gets Fleas
Last September, Goldman Sachs announced that it was going to issue a $2 billion sukuk. The investment banking giant dutifully employed a Shariah advisory firm, Dar Al-Istithmar Limited, and went about the business of putting together the financing arrangement. There was just one problem. Goldman Sachs made one mistake: they trusted the financial jihadis. To make […]
Maybe the only thing worse than getting in bed with the financial jihadists is to get in bed with the financial jihadists, only to find out they don’t want you. That may be the situation Goldman Sachs finds itself in with regard to its Islamic bond (sukuk) program. It seems Goldman got the blessing from […]
An interview with Joy Brighton… http://www.familysecuritymatters.org/publications/id.6141/pub_detail.asp
Catastrophe – How Shariah Law Is Infiltrating The West
Dick Morris is one of the best-informed and shrewdest political observers and strategists in America. He has been an immensely helpful proponent of the Divest Terror Initiative to cut off corporate life support for the Ayatollahs and other terror sponsors. In his new book, Catastrophe, he now tackles Shariah-Compliant Finance. Below is an excellent 3 […]
In a development which can only be described as despicable, American banking and finance giants Citibank and Goldman Sachs have reportedly applied to open up branches in Iran. We have not been able to confirm this report, however, which originated with Iran state-owned media. To do so, they will have to obtain waivers from the […]
www.ameinfo.com Capivest energy fund a success MANAMA: Capivest, one of the region’s Islamic investment institutions, has successfully closed its $50 million Alternative Energy Fund targeting a prospective wave of commodities. Alternative Energy is a 100 per cent capital protected fund provided in cooperation with leading international investment bank Goldman Sachs. In […]
Family office to launch multi-strategy Islamic fund The Family Office, based in Bahrain, is launching a fund to serve Islamic clients in the Middle East who want to invest in a broad mix of strategies. It will be compliant with Muslim Shariah law that forbids charging interest on loans. Clerics also frown on most […]
http://archive.gulfnews.com/articles/08/05/09/10211752.html 05/09/2008 12:44 AM | Reuters London: Oil’s surge to record highs has coincided with the dollar’s fall to record lows against the single European currency – but US foes keen to end the reign of the petrodollar still face a long wait. The rise in crude prices has been spurred in part by […]
http://www.ilvelino.it/articolo.php?Id=540760 ECO – And now forecasts of oil prices at 200 dollars Rome, 6 mag (Velino) – Milan’s Piazza Affari was leading a negative trend all over Europe, with losses around 0.70 per cent for Its Mibtel index, but not too far from other depressed leading exchanges like Paris (down 0.55 per cent) Frankfurt […]
QIB, QInvest and Silver Leaf Capital to establish $1bn private equity fund and company in Qatar QIB, the leading Islamic Bank in Qatar and QInvest, the Islamic investment bank operating from QFC and Silver Leaf capital (SLC) have signed in London on 5th February 2008, a Memorandum of Understanding to establish the Dhow Gulf opportunities […]
Investors Business Daily-The Risky Business of Islamic Finance
The Risky Business Of Islamic Finance By INVESTOR’S BUSINESS DAILY | Posted Wednesday, February 27, 2008 4:30 PM PThttp://www.ibdeditorials.com/IBDArticles.aspx?id=289008131344615 Islamofascism: Shariah banking has come into vogue in the West, as even cash-strapped U.S. banks try to attract free-flowing Arab petrodollars. But it poses major risks. Wall Street beware. Related Topics: Religion With oil prices […]
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