Beware of Financial Jihadist Claims in Post-Pandemic Market
posted by Christopher W. Holton The world economy and financial markets have been beset by an unprecedented collapse brought about by the Wuhan virus pandemic. In such environments charlatans and swindlers often move in to take advantage. One particularly risk for investors will be promoters of shariah-compliant finance. Shariah complaint finance is a form of […]
posted by Christopher W. Holton A speakers’ meeting of the Global Forum on Islamic Economics, Finance and Banking held in Pakistan called for the promotion of Shariah-Compliant Finance around the globe for Muslim and non-Muslim countries as well. This was expressed as an effort to replace the current global banking system with one based upon […]
One of the most absurd declarations from those who use Shariah-Compliant Finance to spread Shariah worldwide is the claim that Shariah Finance somehow is immune to the economic cycle and market forces. Part of this stems from the fact that Shariah-Compliant Finance is the opposite of free market capitalism; it is a system of centralized […]
The Islamists know that their financial position stemming from their oil wealth gives them great leverage over the West. Make no mistake, their intention is to apply that leverage whenever possible. This has been illustrated in an example of appeasement involving a Spanish soccer club. The soccer club Real Madrid has been compelled alter its world-famous logo […]
With its financial muscle the Arab nation has become a major player on the global stage. And nowhere has the impact of that power been felt more keenly than in Britain. Qatar might be only the size of Belgium with a population a quarter of London’s but its colossal economic strength has enabled it to […]
The Bahrain-based International Islamic Financial Market purports to be a Shariah finance industry entity designed to impose industry-wide standards on the Shariah-compliant finance industry. That may or may not be true. They sure have a slick web site. But when you drill down on their web site, you find some troubling aspects of the organization, its […]
As quoted by Newsweek magazine, the SITE Intelligence Group is reporting that the Islamic State has established a new currency made up of gold, silver and copper coinage. The new currency is designed to “remove Muslims from the ‘satanic usury-based global economic system.’” Here is the Islamic State’s statement on the new currency: Based on […]
Billions of petrodollars reside in instruments known as Waqfs, a kind of Islamic endowment fund. These Waqfs have been used for some legitimate purposes over the years, but they’ve also been used to support Jihadist and Islamist groups, notably the Muslim Brotherhood in Kuwait, for example. The Shariah-Compliant Finance industry has their sights set on […]
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
Sirajul Haq, the head of Jamaat-e-Islami political party in Pakistan, has said that a state of war exists between the US and Islam. A key component of that war, according to Haq, is the conflict between Western economics and an Islamic system of economics: Sirajul Haq said the western economic system based on interest could […]
Sukuk Issuance Hit $131 Billion in 2012
KFH Research reports that Shariah-compliant bond (sukuk) issuances reached $131 billion during 2012, a 54% increase over 2011. As we have reported previously on SFW, sukuk are fast becoming the weapon of choice for promoting Shariah through Shariah-Compliant Finance. Here is how that works: • As we know from historical records and contemporary statements from […]
The purpose of Shariah Finance is to promote Shariah. The chief weapon for achieving that over the past 2 years has been what is known as the Islamic bond, or sukuk. Sukuk are increasingly being used on both sides of the credit market. When Islamic nations and companies want to raise money in the credit […]
Nigeria is a country that has been wracked by violence from Boko Haram Islamic terrorists. They have been particularly brutal in their attacks on Christian worshippers in churches on Christian holy days, such as Christmas and Easter. Now the financial jihad has come to Nigeria. At a zakat seminar (NOTE: zakat is used to fund […]
On June 7th, we posted an article about how Tennessee’s Republican governor and Economic and Community Development commissioner had seen fit to appoint a former Obama White House official who happens to be a specialist in Shariah Finance to their state’s office of Economic and Community Development. Her name is Samar Ali. SFW has documented […]
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
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 […]
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 […]
For at least the third time, Iranian President Mahmoud Ahmadinejad has launched a verbal broadside at capitalism, this time blaming it for the economic crisis in the West, the current trouble in Europe in particular. Previously, in September and November of 2009, Ahmadinejad was critical of capitalism: https://shariahfinancewatch.org/2009/09/25/ahmadinejad-criticizes-capitalism/ https://shariahfinancewatch.org/2009/11/12/iranian-president-mahmoud-ahmadinejad-blasts-free-market-capitalism-at-oic-economic-conference/ Ahmadinejad’s repeated attacks on capitalism are […]
Northern Cyprus, which was seized in an invasion by Turks in 1974, is now said to be ripe for Islamic investors. Northern Cyprus is said to offer excellent investment opportunities in tourism and agriculture. There’s just one catch: Turkey is essentially an occupying force. Isn’t it funny how we never hear anything about the Turkish […]
We’re not big fans of Thomson Reuters, simply because they are market participants and, as such, cannot be regarded as objective in terms of their reporting of Shariah-Compliant Finance. They have published something useful today, however: a glossary of Shariah Finance terms and definitions. Any one with an interest in studying this industry should print […]
We have learned not to expect much from The Huffington Post. In fact, we make it a point to avoid it on most days. But today “HuffPo” published an article by Annalisa Musarra of the “Religion News Service” and we had to read it. It amounts to a celebration of Muslims NOT assimilating into society as […]
The Jihadist organization, Hizb ut-Tahrir, whose goal is to re-establish the caliphate and have Shariah law imposed around the globe, has once again delved into the world of finance. Back in 2009, the organization called for the demise of capitalism to be replaced by an Islamic system of economics based on Shariah: https://shariahfinancewatch.org/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ Now, Hizb […]
Transparent Baloney from the Muslim Brotherhood in Egypt
Two days ago, we reported that the Muslim Brotherhood in Egypt had declared the Egyptian stock market to be Shariah-compliant. Today we are greeted with the news that the Muslim Brotherhood backs free markets. HA! “We have sought to reassure people that a free market in Egypt is the only way forward,” said Mahmoud Ghozlan, […]
Two years ago, this same outfit was calling for replacing capitalism with an “Islamic system of economics” based on Shariah. https://shariahfinancewatch.org/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ Evidently, in Hizb-ut-Tahrir’s twisted logic, that fits in nicely with the Gold Standard…We’re skeptical of the connection…You pretty much need free markets for a true gold standard and Shariah-Compliant Finance is one of the […]
The governors of central banks and monetary authorities of the Organization of Islamic Cooperation (OIC) member countries met in Kuala Lumpur this month to discuss “Central Banking and Financial Sector Development.” Central to the discussion was the potential role of Shariah-compliant finance in contributing to economic growth and financial stability. Many myths have been propagated about […]
Long time readers of SFW may recall the Jihadist organization Hizb ut-Tahrir from a conference the group held in June 2009 in Chicago. The theme of that conference was the replacement of capitalism with Islam and Shariah… https://shariahfinancewatch.org/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ While conducting research, we came across an excellent blog of which we were previously unaware: Hizb ut-Tahrir Watch. […]
Craziness for Profit: Shariah Scholar/Advisor Mufti Taqi Usmani Blames Commodities Markets for Financial Crisis
At SFW we have covered Mufti Taqi Usmani extensively over the years. He has long been considered one of the most prominent and influential Shariah scholars in the world of Shariah Compliant Finance. According to many observers, critics and market participants alike, Usmani is the Shariah finance […]
Al Qaeda released an online video to mark the 10th anniversary of the September 11th terrorist attacks, with messages from the late Osama Bin Laden and his successor, Dr. Ayman Al-Zawahiri. The message from Bin Laden warned Americans against ‘falling as slaves’ to the control of major corporations and claimed the ‘tyranny’ of capitalism had brought […]
Some REALLY Bad Ideas on How to Solve America’s Debt Problems
Not surprisingly, the financial jihadists are promoting Shariah as the solution to America’s debt problems. We’ve seen this before. Back in 2008, in the wake of the subprime mortgage debacle and near-financial meltdown, the financial jihadists insisted that Shariah-compliant finance would have avoided the whole mess. Then, in 2009, defaulting on sukuk (Islamic bonds) just […]
Islamist Parties Pushing Shariah Economic Agenda
Unlike liberals, leftist or social democratic political parties, their Islamist counterparts are hardly defined by their economic perspective. Religious parties always built principles and guidelines around a religious-ideological axis, meaning economic ideology was never an immutable cornerstone of what they believed in, or ran on. But as Islamic parties inhale their first breaths as recognized […]
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