Gulf Times out of Qatar has published a brief article on the basis in Islamic scripture for some of the policies and practices for Islamic commerce and finance. In reading this article, you can see the origin of the prohibition of short selling, insider trading, as well as a few other transgressions. Basically harmless stuff, […]
It’s not so newsworthy that foreign investors are interested in acquiring a 50% share of Bank Muamalat, a major shariah-compliant bank in Indonesia. But it is worth mentioning that Indonesia’s central bank has declared that no foreign investor will be permitted to alter the bank’s shariah-compliance platform. Note that when Shariah-compliant institutions invest in the West, […]
As previous reports have indicated, despite pledges not to become overly involved in politics, the Muslim Brotherhood is wading into political waters in Egypt with both feet and part of their agenda is to promote shariah-compliant finance. This is a sensitive subject in Egypt since some Egyptian shariah scholars have historically viewed many of the […]
Iranian President Mahmoud Ahmadinejad has highlighted the importance of naming the current Iranian calendar year as “The Year of Economic Jihad.” Ahmadinejad said on Sunday that economic jihad should be realized in every aspect of all Iranian’s lives, the president’s official website reported. SFW readers may recall that in November of 2009, Ahmadinejad addressed the […]
Euromoney.com is once again giving out awards for compliance to the financial wing of the barbaric, medieval doctrine known as Shariah. They have a whole host of awards to dole out (no fewer than 19 awards in the field of “Islamic” finance), which probably indicates that these awards are a convoluted effort to drum up […]
The Islamization of American Business
The intrepid Christopher Logan over at Logan’s Warning has brought a new web site to our attention: AmericanMuslimConsumer.com. On October 30th, there will be an American Muslim Consumer Conference which is described as: the only platform for industry professionals to examine this potent market sector, and explore its rich potential.It effectively raises awareness of the […]
A recent International Monetary Fund (IMF) report has argued that the rapidly growing Shariah banking sector may accelerate economic development of the Muslim world. We are a bit confused as to why this is, seeing as the Muslim world has been awash in petrodollars for generations, yet its overall economic development has been patchy at […]
The White House has announced the appointment of 13 men and women to serve as White House Fellows. Atop the list in the release issued by the White House is an attorney named Samar Ali. Ms. Ali specializes in advising clients on “Shariah-compliant” transactions and was a founding member of the first U.S. delegation to […]
Note that while the US tries to convince Russia to support sanctions against Iran over its nuclear weapons program, Russia continues to stay cozy with the Ayatollahs. In this case, Russia is holding an outreach conference aimed at the Muslim world. Shariah-Compliant Finance has been creeping into Russia and the robber barons there are welcoming […]
Unemployment in America is hovering at just below 10 percent, so President Obama hosted a “Summit on Entrepreneurship” in Washington, D.C., in an effort to boost economic development … in Muslim nations. The president thinks more U.S. investment in Muslim lands and exchange programs that will bring Muslim women to America so they can work […]
We are very pleased to bring to SFW readers a submission from a financial insider who has seen the world of Shariah-Compliant Finance up close and personal, David Clark. David has spent several years structuring Shariah compliant finance deals. In this time he had access to the leading Islamic scholars and Shariah boards and learned just what a joke “Islamic finance” […]
In 2009, the aggregate of Shariah-Compliant assets under Shariah-Compliant financial institutions totaled $950 billion. Last week, Moody’s Investor Services forecast that number to grow to $5 trillion. Such a figure would give the financial jihadists almost unbeatable clout in the global financial industry… http://www.todayszaman.com/tz-web/news-207150-105-islamic-finance-assets-could-reach-5-trillion.html
Thomson Reuters has launched a new service that caters to the Shariah-Compliant Finance industry, a gateway that is totally dedicated to Shariah… http://www.thedailynewsegypt.com/article.aspx?ArticleID=28780
The Current Economic Crisis – Is Islamic Finance a Solution? Parvez Ahmed promotes Shariah on the Huffington Post site from his professorship at the University of North Florida…a state-funded higher education institution… http://www.huffingtonpost.com/parvez-ahmed/the-current-economic-cris_b_516965.html?
Craig R. Smith, the Chief Executive Officer of Swiss America Trading Corporation, has published a report which details developments surrounding the Islamic Gold Dinar, a concept that has been floating around for some time but which has never really come to fruition. Smith points out that such a currency would pose a direct threat to […]
Oxford Analytica Continues to Shill for Shariah
The economic consultancy Oxford Analytica has frequently used its space on Forbes.com to promote Shariah-Compliant Finance. We have pointed this out on SFW in the past: https://shariahfinancewatch.org/?s=Oxford+Analytica Oxford Analytica has taken yet another step to promote financial jihad with an article on Forbes.com. This new article is so overrun with troubling and disturbing aspects that […]
Islamic finance system urged for Guernsey
Guernsey, one of the Channel Islands between Great Britain and France, has a semi-autonomous political and economic system, but maintains close official relations with the United Kingdom. Unfortunately, someone in Guernsey thinks it’s a swell idea to adopt Shariah-compliant finance for its financial system…the last time a foreign totalitarian doctrine was in control on Guernsey […]
The Shariah-Compliant Finance sector has been affected by the downturn in the global economy. Asset growth slowed in 2009 according to the Islamic finance report from International Financial Services London (IFSL), an independent organization. http://www.hedgefundsreview.com/hedge-funds-review/news/1588694/islamic-finance-market-growth-faced-slow-2009? This is more evidence that runs counter to the propaganda from the Shariah Finance industry claiming immunity from the economic […]
More on AAOIFI’s moves to seize control of Shariah Finance
SFW has published a half dozen articles on the shadowy financial jihadist organization AAOIFI (Accounting and Auditing Organisation for Islamic Financial Institutions) and its growing influence in the world of Shariah Finance. https://shariahfinancewatch.org/category/aaoifi/ AAOIFI employs notoriously hateful Shariah scholar Mufti Taqi Usmani and counts representatives of the central banks of known terrorist sponsors Iran, Sudan […]
Dubai Debts Prompt Review of Shariah Finance
SFW has long maintained–and pointed out–that Shariah-Compliant Finance is in now way immune to market and economic forces and thus cannot provide a safe haven in the event of economic or financial crisis. We point this out because so many financial jihadists routinely commit fraud by claiming that Shariah Finance is protected by the principles […]
Islamic Finance and Women
The article linked below is so incredibly preposterous that we hardly know where to begin to comment on it. It begins by stating that “Islam honors women…enhancing their standing [in society] and granting them their full unabridged rights.” The authors must be talking about some version of Islam practiced on the planet Venus. Nevertheless, the […]
Money Fleeing Malaysia
Here on Shariah Finance Watch we have documented that Malaysia is ground zero in the Pacific Rim for Shariah Finance: https://shariahfinancewatch.org/category/malaysia/ Almost all of the financial news out of the Malaysian capital of Kuala Lumpur over the past year has been centered around “Islamic” finance and banking. The country’s prime minister and other cabinet members […]
Another Kuwaiti bank converts to Shariah compliance
Bank of Kuwait and Middle East (BKME) is undergoing a change to become fully Shariah-compliant. The bank’s chairman Hamad Al Marzouq says that the bank will formally go Shariah-compliant starting from the second quarter of 2010 and that to signify the transformation to Shariah compliance BKME will be renamed as Al Ahli Al Muttahad. BKME […]
No nation in the world is more active in promoting and exporting Shariah Finance than the nation of Malaysia. Illustrating that is the fact that there are more entries for Malaysia on this blog than for any other country name, except for Iran and Saudi Arabia. https://shariahfinancewatch.org/category/malaysia/ Also, a Malaysian bank, CIMB Islamic, just received […]
Islamists in Kuwait debate loans and interest
We found an interesting article on Kuwait Times this morning. It seems that the Kuwaiti parliament is debating whether or not to “write” off interest on government loans to its citizens. It has been claimed for decades that interest is forbidden in Islam–either charging it or paying it. As a result of that portion of […]
Oxford professor calls for “branding” of Islam
Ample business and market opportunities await Islamic companies in Muslim and non-Muslim countries if they can execute effective branding strategy, according to a branding expert from Oxford University. Dr Paul Temporal, associate fellow at the British university’s business school, said the Islamic values like honesty and cleanliness could provide strong fundamentals for companies to build […]
Shariah finance: The deadly Jihadist weapon with a dollar sign
It is highly appropriate that SFW end 2009 by sharing the latest work from one of the true heroes of the Western world in the fight against Shariah: David Yerushalmi. Mr. Yerushalmi’s essay in the Washington Examiner provides both a primer for those unfamiliar with the issue of Shariah Finance, as well as an update […]
A New Blog Worth Checking Out
Recently, a blog has caught our eye and we’ve been impressed with the perspectives published there. We encourage our readers to check it out…It’s called “Money Jihad.” http://moneyjihad.wordpress.com/
Dubai’s golden sands lose their luster
“Investors trapped by the financial storm in the United Arab Emirates are in unknown legal territory as they try to protect their billions.” (The Times, 10 December 2009) The Dubai default debacle demonstrates in stark detail how the lack of transparency and failure to disclose relevant facts make Shariah Finance risky. Long ago–decades ago–the rest […]
A Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica and Forbes.com
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to replace capitalism and our free enterprise system: http://www.forbes.com/2009/12/10/islamic-finance-after-dubai-business-oxford-analytica-islamic-finance.html?feed=rss_business In fact, the article reads less like journalism and more like a press release from […]
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