Here is a story that illustrates that Shariah-compliant financial institutions are far from immune from risk, as much of the propaganda surrounding the industry claims. It is certainly worth noting that two of the banks that were involved in the joint venture in question, Bank Saderat and Bank Melli, are two of the very largest Shariah-compliant […]
As they say, a picture is worth a thousand words. A color-coded map may be even more useful. In this case, we’d say so anyway. The map shown here was created with data from the IFSB–the Islamic Financial Services Board. As you can see, there are some regions that stand out in terms of the prominence […]
Iran has long had more Shariah-compliant financial assets under management than any other nation on earth, as measured by The Banker, but it has been largely blocked by international sanctions. Now that the Obama administration is clearing the way by lifting those sanctions, there is an expectation that Iran’s presence in the Shariah finance marketplace will […]
The Boston Herald has a good editorial this week pointing out that the Obama administration’s decision to release Iranian assets amounts to an unprecedented cash infusion for the Jihadist organizations that Iran has been sponsoring for decades… Jonathan Schanzer, a top terrorism-funding expert at the Foundation for Defense of Democracies, said it best: “This could […]
For decades the US State Department and many foreign countries have labeled the Islamic Republic of Iran as the world’s most active state sponsor of terrorism. That’s because Iran has bankrolled Hezbollah, HAMAS, Palestinian Islamic Jihad and Al Qaeda over the years. Despite this track record of savagery, the Obama administration seems hell-bent for leather […]
Money Jihad blog points out that as the Obama administration seems desperate to make a deal with Iran on its nuclear program, Iran is one of only a few nations that has refused to sign the UN accord on terrorism financing… https://moneyjihad.wordpress.com/2015/02/23/iran-still-wont-sign-accord-against-terror-finance/
FBI: Former Venezuelan Ambassador to Lebanon Was Hezbollah Fundraiser
The connection between Venezuela’s socialist dictatorship and the Shariah-ruled Islamic Republic of Iran has been well-documented over the years. And that relationship naturally extends to Iran’s proxy: the Jihadist terrorist group Hezbollah. But up to now the level of cooperation between Venezuela and Hezbollah was largely unknown. No any more. A new report has emerged […]
Report: Qatar, Turkey Fund Muslim Brotherhood in Libya, Sudan
Oilprice.com has an interesting report that indicates that, despite a public relations campaign meant to convince the world that they have ended their support for Jihad, Qatar continues to fund the Muslim Brotherhood–and does so in cooperation with NATO member Turkey… Qatar, in fact, has reinforced its strategic position of support for the Muslim Brotherhood […]
Long-time readers of SFW know that one of the principle concerns of Shariah Finance and of terrorism financing in general is the role of Islamic charities, many of which have been found to fund Jihad. As we’ve covered fairly extensively over the years, Islamic law mandates or permits (depending on which school of Islamic jurisprudence […]
OPEC-member Islamic nations are starting to feel the pinch of the falling price of oil–so much so that some, like Iran’s president, are making up conspiracy theories about it. Of course, conspiracy theories are nothing new in the Islamic world; they are in fact widespread. It should be noted that the true rise of Shariah […]
U.S. Combat Veterans Sue Big Banks for Facilitating Iranian Terrorism
More than 80 wounded U.S. combat veterans and their families have filed suit against several of the world’s largest banks, which they accuse of facilitating financial transfers on behalf of Iran that directly led to the killing and wounding of U.S. troops in Iraq. More than 200 plaintiffs have signed onto the suit, which targets some of […]
Sen. John McCain, who once joked about bombing Iran, is now pushing for a bill that would benefit a company that’s in business with the Iranian government. http://www.thedailybeast.com/articles/2014/11/13/mccain-helps-a-business-partner-of-iran.html
Are Politics Stalling the War on Terrorism Financing?
We would maintain that the active denial of the true nature of Shariah and Shariah-compliant finance has meant that the war on terrorism financing has never been properly waged to begin with, but nevertheless, the article below from the Journal of International Security Affairs is well worth a look. … it is obvious that the war […]
Islamic organization is sacrificing Gaza’s residents in the battle against Israel in order to receive funds and weapons from Tehran. http://www.ynetnews.com/articles/0,7340,L-4555109,00.html
Iran dominates the the world of Shariah finance. More Shariah-compliant financial assets exist in Iran than in any other nation–by far. The world’s largest Shariah-compliant financial institutions are Iranian banks–all of which are under sanctions for various nefarious activities. It says a lot about an industry when that industry’s leader is also the world’s most […]
What country accounts for 36% of all Shariah-compliant assets: Iran. Is it just a coincidence that Iran is also the world’s leading state sponsor of terrorism?
One of the dirty, dark secrets of Shariah-Compliant Finance is the fact that Iran, the world’s most active state sponsor of Jihadist terrorism, dominates the world of Shariah Finance. Now Iran has called for a global Islamic financial system… Chairman of Iran’s Securities and Exchange Organization Ali Salehabadi on Sunday called for a united financial […]
The Council on American Islamic Relations, which was identified as a Muslim Brotherhood front and named an unindicted co-conspirator in the largest terrorism financing prosecution in US history, is calling for an investigation on the closure of the bank accounts of Iranian students in the US. The banks have cited sanctions policies for the closure […]
Any suggestion that sanctions against Iran are not completely unravelling certainly goes out the window if Iran secures World Bank financing for development projects…keep in mind that the US is the primary funder of the World Bank… http://www.tehrantimes.com/economy-and-business/115100-iran-seeks-world-bank-finance-for-development-projects
The head of Iran’s Revolutionary Guards Corps (IRGC), Mohammad Ali Jafari, has called on the Rohani regime to use the IRGC for an expanded role in the Iranian economy… http://archive.radiozamaneh.com/english/content/irgc-leader-wants-economic-role-guards-basij
A U.S. grand jury is probing whether Deutsche Boerse AG’s Clearstream Banking SA unit took any steps to benefit Iran and its central bank, according to a court filing in a case that stems from the 1983 bombing of the U.S. Marine barracks in Beirut. The grand jury subpoena issued in New York seeks documents […]
An Ontario Superior Court of Justice awarded $7-million worth of Iranian state assets in Canada to victims of terrorism. Money that Iran had stashed in Canadian bank accounts, as well as two properties in Toronto and Ottawa, will soon be liquidated for distribution. Sheriffs have been ordered to sell Iran’s properties, empty its bank accounts and […]
The sanctions regime against Iran over its nuclear program and sponsorship of Jihadist terrorism is unfortunately unravelling at an alarming pace. Part and parcel to that process is a disturbing development in which the Supreme Court in the United Kingdom ruled on the side of Bank Mellat in its suit against the British government. Bank […]
Priorities: Obama’s Treasury considers “90 percent of the employees in its Office of Terrorist Financing and Intelligence (TFI)” non-essential.
H/T to the brilliant David Reaboi, a colleague at the Center for Security Policy, who uncovered this fact in the midst of all the smoke surrounding the government shutdown. To anyone who is paying close attention, the ongoing government “shutdown,” is less about fiscal issues and more about priorities. Some operations and personnel are considered […]
One of the most misunderstood aspects of terrorism financing is Shia Iran’s support for Sunni Jihadist organizations. Some naive observers still insist that Iran would never support Sunni organizations and that Sunni organizations would never ally with Iran. The reality is quite to the contrary. Iran has longstanding ties to numerous Sunni Jihadist organizations, the […]
A foreign subsidiary of United Technologies did work for the Paris branch of Iran’s Bank Melli (one of the largest Shariah-compliant banks in the world), despite US sanctions… http://www.courant.com/business/hc-united-technologies-iran-20130726,0,3896642.story
Iran and Communist China are major trading partners. China acquires oil from Iran and Iran buys all sorts of weapons from China. Sanctions have been crafted by the international community to attempt to pressure Iran for its nuclear program, but the Iranians and the Chinese have found “creative” ways to bypass those sanctions. The latest […]
Outgoing Iranian President Mahmoud Ahmadinejad was swarmed by a group of citizens protesting the loss of their savings in the Tabriz Nasr Secured Loans Fund. Local websites report that the crowd stopped the president’s vehicle and chanted slogans, demanding government intervention in their situation. The report indicates that one of the protesters was briefly “entangled” […]
“The practices involve the use of third-country exchange houses or trading companies that are acting as money transmitters to process funds transfers through the United States in support of business with Iran,” that are not exempted or authorized, the Office of Foreign Assets Control said in an advisory. In its advisory, the Treasury Department outlined […]
Iran is desperate to get access to foreign currencies, particularly dollars and euros, and is exploiting weak spots in the global financial system in an effort to move funds and evade economic sanctions, U.S. officials say. The Treasury Department warned U.S. banks to be vigilant in monitoring attempts by Iran to move money through currency […]
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