posted by Christopher W. Holton Reports say Taliban’s incomes have increased this year against the previous years. A report by the BBC shows that Taliban annually earns more than $1.5 billion from drug dealing, illegal mining, collecting electricity bills and financial support from a number of countries. The report said that this year Taliban’s financial […]
Shariah bonds, known as sukuk, are the instrument of choice for promoting Shariah finance, which is why the fact that they keep coming up as disappointments is very telling about the overall industry… Gulf Islamic Bond Sales Disappoint Sukuk issuance in the region has slumped by more than half This year is shaping up to […]
A new United Nations report has concluded that wealthy financiers in the UAE, Saudi Arabia, Oman and Kuwait are using the illicit charcoal trade in Somalia to fund the Jihadist terror group Al Shabaab. Key financiers of Islamist militants in Somalia are operating with impunity in Gulf states, undermining efforts to end an insurgency in the Horn […]
Gulf Nations to Continue Shariah-Compliant Sukuk Push
On February 13, 2013 · In Abu Dhabi, Bahrain, Creeping Shariah, Dubai, Emirates, Gulf Cooperation Council (GCC), HSBC, Islamic Bonds, Islamic Finance, Islamization, Kuwait, Oman, Qatar, Shariah Bonds, Shariah Finance, SUKUK
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 […]
Given the heavy hand of Salafist Islam in the Persian Gulf region, this report should come as no surprise… Corporate and infrastructure issuers in the Gulf region may increasingly rely on sukuk, the Islamic equivalent of bonds, as a source of funding in coming quarters says a report titled “Sukuk Are Surpassing Conventional Bond Issuance […]
An extraordinary meeting of the Gulf Cooperation Council was held to discuss the Council’s transformation into a union – be it a federation or confederation; an agreement has yet been reached regarding which form that union would take. Among the justifications used to promote the idea of a union is the fact that the GCC […]
Sukuk are taking over
On October 9, 2011 · In Defaults, Gulf Cooperation Council (GCC), Islamic Bonds, Shariah Bonds, SUKUK
Three and a half years ago, the very future of Sukuk (Islamic bonds) was in question when Mufti Taqi Usmani, a prominent Shariah scholar, declared most of them haram, or non-Shariah-compliant. Despite this, the Sukuk market survived, though it then suffered a setback when several Sukuk offerings experienced missed payments and defaults in 2009. Today, […]
Gulf states are working towards the creation of a single Sharia board for the region’s Islamic financial institutions, said Hussain Hamed Hassan, head of Dubai Islamic Bank PJSC’s Sharia committee and chairman of the Sharia Coordination Committee of the Islamic Financial Institutions in the UAE. Speaking at the launch of Hawkamah Institute’s policy brief on […]
The value of bonds and sukuk issued by Gulf oil producers plunged by nearly 32 per cent in the first half of this year and conventional bonds continued to dominate the market. http://www.zawya.com/Story.cfm/sidZAWYA20100801050759/GCC%20bond%20value%20dips%2032%25%20in%20H1
A report published by the London School of Economics asserts that the Pakistani intelligence agency not only funds and trains Taliban fighters in Afghanistan but is officially represented on the movement’s leadership council, giving it significant influence over operations. Research in support of the report strongly suggested support for the Taliban was the “official policy” […]
The GCC conventional bond market recorded a poor performance in the first quarter of 2010 amid Dubai-linked and broader sovereign debt fears, NCB Capital, the largest investment bank in Saudi Arabia and a subsidiary of National Commercial Bank, reported. Primary issuance fell by some 70 percent in value from the average of the previous three […]
The promoters of Shariah Finance have now coined a new term to hide their agenda and describe their movement: “Responsible” investing. To do so, they erroneously claim that “Islamic” financial products have provided insulation from the financial crisis and global recession. This, of course, is rubbish, as we have reported on these pages many times. […]
Since Shariah Law has such a great track record with women’s rights, it’s only natural that the Shariah Finance industry would target wealthy women in countries like Bahrain, Qatar, Kuwait and Saudi Arabia… Excerpts and LINK: A Cayman island based wealth management firm has established a fund that will target female investors in the Gulf. […]
Shariah goes high-tech: Online Takaful
On November 4, 2009 · In Gulf Cooperation Council (GCC), Sharia Compliant, Sharia Products, Shariah insurance, Takaful
Noor Investment Group launches online “Islamic insurance” service… http://www.menafn.com/qn_news_story_s.asp?StoryId=1093280774
State-controlled Kuwait News Agency has just published an article in which it flat out claims that “The global financial crisis has not hit Islamic finance industry thanks to its sound and strong systems.” This is a lie. They even have the temerity to cite asset levels within the Gulf Cooperation Council (GCC) as evidence, completely […]
The International Finance Corp., a wing of the World Bank, said Wednesday it would list its first Islamic bond. The IFC Hilal Sukuk, a greenback-denominated 100 million dollar issue with a five-year maturity, will be listed with the Nasdaq Dubai and Bahrain stock exchanges, the Washington-based corporation said. The IFC is the first non-Islamic financial […]
Dow Jones Indexes is set to launch four new indexes for the Middle East and North Africa region, giving investors access to both conventional and Shariah compliant indexes. Note that this index will focus on Saudi Arabia and the standards will be aligned with Wahhabism, the official state religion of Saudi Arabia–and Al Qaeda… http://www.themedialine.org/news/news_detail.asp?NewsID=26203
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