U.S. fund manager Russell Investments has launched its first range of Islamic compliant indexes with Saudi investment services group Jadwa… http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLO21426820090624
FTSE and the Stock Exchange of Thailand have added a Shariah index to the exchange’s benchmarks. This is most unfortunate and is illustrative of the spread of Shariah worldwide. This is especially disconcerting in the case of Thailand, which has been racked by a bloody Islamist insurgency over the past several years. One cannot help […]
We have good news and bad news. First the bad news: the Shariah-Compliant Finance industry continues to grow worldwide. This is bad news for a variety of reasons, particularly these two: + The purpose of Shariah-Compliant Finance is to serve as “missionary work” to spread Shariah. So, when Shariah-Compliant Finance grows, Shariah spreads. Because Shariah […]
Stress-testing Shariah-Compliant Finance
RGE Monitor has come up with an excellent analysis of the Shariah-Compliant Finance industry and has pretty much debunked all the misleading and flowery reports about Shariah-Compliance providing a safe haven against the current economic decline and financial downturn. It also reinforces another important aspect of Shariah-Compliant Finance that we’ve been writing about on SFW […]
Shariah-Compliant Finance as a Safe Haven: Myth and Reality
Promoters of Shariah-Compliant Finance routinely violate the trust of investors when they proclaim that investing according to shariah principles has provided a safe haven from the recent and current financial crisis. Could any other sector get away with such lies? The lies emanate from the entire range of shariah practitioners, from individual investors themselves all […]
Shariah-Compliant Finance comes to India
Unfortunately, Shariah-Compliant Finance continues its expansion. India’s first Shariah-Compliant mutual fund is gathering money right now. It is important to analyze the implications of the expansion of Shariah-Compliant Finance. When Shariah-Compliant Finance expands: • Shariah itself expands; remember, the very purpose of Shariah-Compliant Finance is to promote Shariah and at the World Islamic Economic Forum […]
All too frequently, an article will appear in the news media extolling the virtues of “Islamic” finance as a way to protect wealth from the ravages of the current financial crisis. When we first came across a recent article in the Sacramento Bee, we figured that we had another case of this and were prepared […]
Shariah-Compliant Finance has gained a foothold in India and the story of this development illustrates the misleading nature of the industry. A new Shariah-Compliant fund was just launched. But look closely at its name: The Taurus Ethical Fund. Regular readers of SFW know that we have addressed this before. Proponents of Shariah-Compliant Finance are fond […]
If any of our readers still does business with HSBC, you may be interested in this article… http://ftadviser.com/InvestmentAdviser/Investments/Region/FrontierMarkets/News/article/20090223/a7001eb2-ff62-11dd-ac57-00144f2af8e8/HSBC-targets-sharia-in-UK.jsp
Dow Jones Islamic Market Index marks 10th Anniversary
The Dow-Jones Islamic Market Index is 10 years old. Excuse us if we decline to join in the celebration of one of America’s financial icons helping our enemy’s threat doctrine infiltrate our financial system. Dow Jones’ due diligence with regard to that entity has been nothing short of LOUSY. Case in point: they brought on […]
Unfortunately we overlooked an excellent article two weeks ago. Alyssa Lappen is one of the most knowledgeable writers on Shariah and Shariah-Compliant Finance. She wrote an article for FrontPageMag.com. In this article she points out that some sukuk–or Islamic Bonds–are in fact structured in such as way that they simply cannot be classified as anything […]
WomenOntheWeb: Is the Banking Bailout Helping Fund Terror Groups?
A web site named Women on the Web just published an article related to Shariah Finance. It was not particularly well done unfortunately. Since I was quoted in the article (see link below) I felt the need to preface the link with some comments: As one of the people interviewed in this article, I feel […]
FINALLY…a critical article about Shariah-Compliant Finance…
…actually, it isn’t THAT great, but it’s better than most of the fluff pieces being produced on the subject these days. Foreign Policy has published a piece entitled Faith in the Market. They at least attempt a balanced view of Shariah-Compliant Finance, though they miss the most important points (which we will attempt to clear up here […]
The Pure condominium building, a steel-and-glass West Loop residential high-rise at 24 S. Morgan. Condo at heart of fraud allegations Muslim investors might lose $80 million By LORRAINE SWANSON Staff Reporter The Pure condominium building, a steel-and-glass West Loop residential high-rise at 24 S. Morgan, markets itself on a Web site as a place to […]
The somnolent atmosphere on the Abu Dhabi Securities Exchange trading floor belies the dire state of regional equity markets. Although most companies have reported healthy earnings in the past quarter, Gulf stock markets have plunged and all are firmly in the red. Saudi Arabia’s Tadawul All-Shares index, which tracks the performance of the largest Gulf […]
Top Islamic Finance News Sponsored by QIB Helps Arrange $250M Financing For Power Firm An Islamic Financing arrangement worth $250m (QR910m) for part of the Ras Laffan C independent power and water project to be undertaken by Ras Girtas Power Company reached financial close on September 2, Qatar Islamic Bank (QIB) announced. The Peninsula – […]
London firm launches Sharia-based equity fund www.livingdesigns-uk.com/images/case_studies/amiri_branding_top.gif LONDON: London-based Amiri Capital has launched the Amiri Equity Alternative Strategies (AEAS) fund. AEAS is the maiden fund from the Sharia-compliant alternative investment management group and the first Islamic alternative investment product to offer a fund of fund manager long/short equity strategy. Coronation, the London-based multi-manager, […]
Ernst & Young Launches Islamic Investment Report From 2007 but should be noted. The 1st Annual Ernst & Young Islamic Funds & Investments Report (IFIR) is being launched to address the dynamic landscape of Islamic Private Equity market. The inaugural report will focus on the spectrum of asset classes and drivers that will have the […]
Central and Eastern European Real Estate Fund a hit with investors There was strong interest shown among selected investors invited to subscribe to a new EUR150m Sharia compliant Central and Eastern European Real Estate Fund, which was launched today by Swiss-based Faisal Private Bank, Bahrain-based Shamil Bank and Sharjah Islamic Bank. Bahrain: Sunday, May 11 […]
hat tip, margo I. Saturna Capital Named Best Fund Manager U.S. Amana Income Named Best U.S. Equity Fund. Dubai, UAE; April 2, 2007 — Saturna Capital Corporation, a U.S. investment management company, has received the 2006 Best Fund Manager – U.S. Award for management of the Amana Growth Fund (AMAGX) and Amana Income Fund (AMANX) […]
Geneva to host Islamic Conference in May to promote Shariah Laws
http://www.financial-events.ch/EB-Islamic-Finance-Geneva2008.html The rapid development of the Islamic finance and Islamic banking industry, not only in the Middle East but across the globe, has produced new Shariah compliant products and structures, which have in turn resulted in a substantial growth in demand for Islamic financial services. The number of Islamic institutions and their assets grew […]
http://www.thedailystar.net/story.php?nid=3262500-200m for Bangladesh fund Star Business Report Asian Tiger Capital Partners will launch a $100 – $200 million private equity fund to invest in Bangladesh this September, with the UK company claiming that foreign direct investment in the country could increase tenfold to around $7 billion by 2015. The announcement was made as Asian Tiger […]
Friday April 11, 2008 More Islamic securities on the way KUALA LUMPUR: Global audit and advisory firm Deloitte Touche Tohmatsu said the market for Islamic securities in Malaysia still has room for growth due to interest from Gulf Cooperation Council (GCC) countries as well as a supportive framework for Islamic financial products. Deloitte partner Ng […]
Thoughts of American Infidel – http://americaninfidelthinks.blogspot.com/ DAR AL HARB-U.S.A.-ILLINOIS: DE PAUL TEACHES COURSE ON SHARI’AH COMPLIANT MARKET FINANCE DePaul buys into growth of Islamic banking Classes are teaching financing methods that conform to holy laws as field expands into a global industry By Deborah Horan Amir Davoodi had read about the meteoric rise of Islamic […]
Sharia-Compliant Finance Funds Jihad by Deroy Murdock Posted: 04/04/2008 Print This Forward Feedback Digg This! Turn your clock back 70 years. Imagine that Wall Street banks and brokerages sold Nuremberg-compliant bonds and stock funds in 1938. American Nazi sympathizers bought financial instruments certified by Berlin-based advisors as free of “Jewish profits” from, say, […]
Firms flock (like sheep) to Middle East “Oasis” fueled by oil wealth and cash rich soverign funds
http://www.financialnews-us.com/?fuseaction=reg.singleform&contentid=2450217363 www.financialnews-us.com Firms flock to the Middle East oasis Oliver Smiddy 03 Apr 2008 As western Europe and North America suffer from large deal drought, the Middle East offers an oasis of liquidity. But unlike previous oil-driven booms, which proved to be blips, this year could see a turning point in the Middle Eastern investment […]
April 02, 2008 14:24 PM Conference To Focus On Islamic Venture Capital KUALA LUMPUR, April 2 (Bernama) — The Islamic Venture Capital and Private Equity Conference with the theme of “Fostering Alternative Investment — Emerging Trends and Key Opportunities” will be held here next month. Jointly organised by Islamic Banking and Finance Institute Malaysia […]
Deutsche Bank sees Islamic hedge fund growth Tue Feb 5, 2008 8:51am GMT By John Irish DUBAI (Reuters) – Deutsche Bank expects demand for hedge funds that comply with Muslim law to take off in the second half of 2008 as structures become more defined and credible fund managers and brokers set up to handle […]
QIB, QInvest and Silver Leaf Capital to establish $1bn private equity fund and company in Qatar QIB, the leading Islamic Bank in Qatar and QInvest, the Islamic investment bank operating from QFC and Silver Leaf capital (SLC) have signed in London on 5th February 2008, a Memorandum of Understanding to establish the Dhow Gulf opportunities […]
From an article, or rather, a book-review and summary by Daniel Pipes of Professor Timur Kuran’s indispensable study, “Islam and Mammon”: “Islamic economics increasingly has become force to contend with due to burgeoning portfolios of oil exporters and multiplying Islamic financial instruments (such as interest-free mortgages and sukuk bonds). But what does it all amount […]
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