Shariah Finance Dawah Continues Apace in Britain
One of the worst kept secrets in the world of Shariah Finance is the fact that, despite great efforts on the part of financial jihadists with obsequious assistance from British political leaders, demand for Shariah-compliant financial products and banking is lacking. Nevertheless, the Shariah Finance industry is continuing its dawah operations there… Sharia finance to […]
Long-time readers of SFW may recall some posts from the past two years alluding to the fact that, despite a great deal of hype, Shariah-compliant banking is failing in the United Kingdom. For instance, in June of 2010, we posted a report from the Australian media quoting industry insiders in the UK admitting that Shariah-compliant […]
HSBC is getting rich. They’re getting rich off of connections to Saudi Arabia and their deep involvement in the Shariah-compliant bond market (known as sukuk). It seems that nobody underwrites sukuk for the Saudis like HSBC does. This is the same HSBC that has been fined a billion dollars for its illegal business with Iran. […]
Iranian TV: Shariah banking grows strong in Indonesia
It is no secret that Shariah banking is a growth industry in Islamic-dominated countries like Indonesia, the world’s most populous Muslim nation. And it is also no secret that the Shariah Finance and Banking industries have been hamstrung by a lack of qualified personnel–everything from a shortage of Shariah scholars to a shortage of rank […]
South Africa’s First National Bank (FNB) finds itself in urgent need of a whole new set of Shariah scholars to man its Shariah advisory board after its previous board resigned en masse in a dispute with management. Not surprisingly, given the opaque nature of Shariah-Compliant Finance, details about the dispute are sketchy, but they appear […]
Shariah Finance to Establish Foothold in Germany
…with the dutiful help of Ernst & Young and Norton Rose law firm… Turkey’s Kuveyt Turk investment fund, which operates under the principles of Islamic sharia law, plans to open its first German branch in October. The first branch in Germany will be opened in Frankfurt with the assistance of Ernst & Young and the […]
Mastercard: The Credit Card of the Ayatollahs
According to Shariah scholars, Shariah-compliant Muslims are not supposed to pay or receive interest. Nevertheless, many Muslims around the world have credit cards. The Shariah-observant Muslims get around the ban on interest by paying off their balances every month so as not to incur interest charges. But a lot of Muslims use credit cards just […]
Sukuk continue to be the main weapon of Islamic financial imperialism. This was illustrated recently by a major sukuk offering from First Gulf Bank in the UAE that attracted investors from Asia, Europe and the USA… http://www.cpifinancial.net/news/post/15461/first-gulf-bank-comes-first This is how Shariah-Compliant Finance infiltrates the world financial system and desensitizes Westerners to the perils of Shariah.
Qaradawi’s Qatar Islamic Bank to float $1.5 billion Sukuk
Islamic bonds, properly known as “sukuk” are increasingly becoming the favorite product of Shariah-Compliant Finance. In fact, we’re starting to see more and more Western nations and financial institutions involved in sukuk simply because wealthy Muslim individuals and institutions, armed with massive amounts of petrodollars, are insisting on Shariah-compliance for financing activities. Qatar Islamic Bank […]
Hillary Clinton’s friends and associated in the Muslim world continue to attract curiosity and scrutiny. Money Jihad blog has an interesting post on Muhammad Yunus, a Bangladeshi banker who has won universal praise in the West, but who also has some questionable ties and a shady past… http://moneyjihad.wordpress.com/2012/08/12/muslim-banker-under-renewed-scrutiny/
Recently we reported that Standard Chartered bank had been fined hundreds of millions of dollars for conducting transactions with Iran, the world’s foremost sponsor of Jihadist terrorism: https://shariahfinancewatch.org/2012/08/13/standard-chartered-bank-helped-iran-hide-transactions-in-defiance-of-us-sanctions/ Standard Chartered’s Iranian affairs are doubly worrisome given the bank’s leadership role in promoting Shariah-Compliant Finance in the West. No patriotic American should have anything to do […]
First it was HSBC, which was fined $1 billion for knowingly looking the other way on transactions involving Iran. Then it was Standard Chartered, which was fined $340 million. Now it’s Deutsche Bank’s turn. Can we now say that the Shariah Finance promoters COMMONLY do business with terrorist regimes in violation of US sanctions? And […]
Regular readers of SFW know that we are no fans of HSBC. After all, HSBC has been at the forefront of the financial jihad to facilitate Shariah-compliant finance on a global scale. Moreover, HSBC employed the Jihadist monster Mufti Taqi Usmani as the chair of their Shariah Advisory Board. Then, when the heat over that […]
Standard Chartered Plc will start Islamic private banking services in Asia and CIMB Group Holdings Bhd. plans to roll out new products for the wealthy as they target rich Muslims in Asia… http://gulfnews.com/business/banking/banks-plan-shariah-assets-for-asian-millionaires-1.1049062
The global Islamic finance and banking sector is pegged at $1 trillion with an estimated growth rate that is four times higher than conventional financial services, according to organizers of the upcoming International Islamic Finance Conference 2012. This will put the value of Shariah-Compliant assets at $5 trillion by 2016… http://www.ameinfo.com/islamic-finance-set-reach-5-trillion-304950
The Islamic Financial Services Board (IFSB) forecasts that the Shariah Finance industry will grow at a 15% annual rate over the next ten years. Meanwhile, HSBC, one of the leaders of the financial jihad in the West, points out that Shariah banking has grown at a 15% to 25% annual rate. As if to celebrate […]
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. […]
Here we go again: Financial Times continues spread of the myth of “ethical” Shariah Finance
The financial jihadists have many enablers and useful idiots in the West who help them with their dawa’h mission to spread Shariah through economic imperialism. One surfaced today in the Financial Times. Like many in the financial media, the Financial Times has acted more like a cheerleader for Shariah Finance than as a responsible journalistic organization. […]
Shariah Finance Watch editor briefs Congressional staffers on Shariah-Compliant Finance
Recently we had the opportunity to brief staff members from 10 Congressional offices on the threat of Shariah Finance. The briefing was recorded and we have posted the full 1-hour briefing here for SFW viewers… Shariah Compliant Finance and Financial Jihad
Regular, long-time readers of SFW may recall a posting from almost exactly 2 years ago in which it was announced that an attorney who had specialized in Shariah Finance had been appointed as a White House fellow by President Barack Obama: https://shariahfinancewatch.org/2010/06/23/shariah-compliant-finance-specialist-joins-white-house-as-fellow/ The attorney in question is named Samar Ali. At the time she was […]
Bank Islam in Malaysia has launched a new Shariah-compliant derivative product called an Islamic Dual Currency Investment-i (DCI-i). This product is wrapped in a murky Shariah cloak, but make no mistake about it: it is a derivative product designed to squeeze additional returns out of fluctuations in foreign currencies. The foreign currency markets are highly […]
The good folks at Money Jihad blog have done it again. They have uncovered a very important news item about a member of the Shariah Advisory Board of Islami Bank Bangladesh Limited (IBBL) who has been arrested for his alleged involvement in an attack on police by the group Jamaat-e-Islami . We have known for years about […]
Irish Attorney: “Financial shock would never have happened under shariah”
Every once in a while we come across a story that is really outrageous. Some or outrageous because they are inaccurate. Others are outrageous because they are simply offensive. Today we bring to you an article from John King, an attorney with one of Ireland’s most prominent law firms, in which he makes the case […]
One of the chief concerns about Shariah-Compliant Finance surrounds the use of Shariah advisors who end up controlling a great deal of money invested in Shariah-compliant instruments and institutions. Some of these advisors, such as Sheikh Yusuf al-Qaradawi and Mufti Taqi Usmani, have known ties to Jihadist terror groups. But even in the cases where […]
Just in time for the victory by socialists, facilitated at least partially by Islamist backing, Shariah-Compliant Finance has entered the real estate market in France… La Française AM has launched the first Sharia compliant OPCI – collective real estate vehicles with simplified investment rules with leverage – into the French market as part of the […]
We have covered HSBC frequently here on SFW, but Forbes and Reuters have just broken a story that paints a picture of HSBC as a financial institution out of control when it comes to vigilance against money laundering. We first reported on HSBC’s deplorable money laundering policies almost a year ago when it was announced […]
Malaysia is doubtless a center of Shariah Compliant Finance, certainly the leader in Asia and the Pacific Rim. One of Malaysia’s largest Shariah banks is Maybank Islamic. Maybank Islamic is making moves to become a global force for Shariah. They are setting up shop in neighboring Singapore and Indonesia, but also have their sights set […]
Islamic Development Bank proposes “Mega Islamic Bank”
The Islamic Development Bank (IDB), the financial jihad wing of the Organization for Islamic Cooperation (the world’s foremost Islamic imperialist organization), is planning something that sure sounds ominous: a “Mega Islamic Bank.” One of the stated purposes behind such an institution is to develop products to allow Shariah Finance to gain more ground in world […]
The Islamist revolution is in full bloom in Libya (thanks to NATO, but we digress). Bloomberg out of Dubai, which is such a cheerleader for Shariah finance that they can’t be completely trusted to report facts, has published a report that indicates that ordinary Libyans are holding on to some $12 billion of cash, just […]
Birmingham-based Islamic Bank of Britain has launched a new Sharia-compliant electronic International Money Transfer Service. The service, the first of its kind, operates from the bank’s branch in Coventry Road, Small Heath. The bank said it guaranteed all the funds would be handled and transferred in the proper manner. The transfer service is aimed at […]
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