posted by Christopher W. Holton We have long maintained that shariah-compliant finance is a modern day Trojan horse through which Jihadists seek to embed Shariah inside the West through non-violent economic means. Nowhere has this campaign been more successful in the West than the United Kingdom. Of course, the UK has already endured a civilization […]
Seattle Mayor Edward B. Murray has introduced a plan to provide affordable housing in a city that is home to much of the high-tech industry’s wealthiest individuals and businesses. Overshadowing the irony of this scheme is this part of the plan: Support the Community in Finding Housing Tools for Sharia-Compliant Lending: For our low – and […]
The Financial Jihad Spreads to Zambia
Shariah is expanding its dominance from Australia to Zambia…A to Z… Bank of Zambia Governor, Dr Michael Gondwe, this morning officially launched the Islamic Finance Guidelines in Zambia at the Radisson Blu Hotel. Dr Michael Gondwe described the launch as a landmark achievement in the history of banking in Zambia. He urged financial service providers to put in place […]
More civilization suicide. This is a classic case of an elected government selling out against the interests of its own people. Canada’s Conservative government is supporting Islamic banking conferences in the Persian Gulf, with many Canadians hoping it comes to Canada. Worth $1 trillion in assets, Islamic banking is being lauded by British Prime Minister […]
Faced with Crisis, Russian Banks Jump To Shariah
Russian lenders are stepping up efforts to tap Islamic finance as international sanctions and a slump in oil prices push the world’s biggest energy exporter to the brink of a recession. Vnesheconombank, Russia’s state development bank, is seeking advice from lenders in the Middle East on how to sell its first Islamic bonds, the RIA Novosti state-news service reported […]
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 […]
Shariah Compliant Hotel Opens in London
London is getting its wish to become the Western world’s Shariah capital. At some point all Londoners will come to regret this, but right now some misguided leaders view these developments as a great thing. This is what is known as civilizational suicide… Staff at one of London’s trendiest destinations say they are in fear […]
A letter written by the Rajasthan’s Additional DGP (Intelligence) to Jaipur’s civic and police authorities, alleging that a group of Muslim industrialists have been funding construction of Mosques in Hindu dominated slum areas of the Pink City by “luring” poor land owners to sell them off has caused a stir http://economictimes.indiatimes.com/news/politics-and-nation/jaipur-police-alleges-muslim-industrialists-of-funding-mosques-in-hindu-slums/articleshow/40450759.cms
In February 2014, the Kuwaiti KUNA press agency announced that a Montreal high school administered by Samer Al-Majthoub (aka Samer Majzoub) received an amount equivalent to $US 70,671 from the embassy of Kuwait in Canada. The embassy was acting on behalf of Kuwait’s Ministry of Awqaf and Islamic Affairs. Recent GMBDW articles have highlighted other recent contributions […]
Report: Shariah-Compliant Finance Advancing in Non-Muslim World
The reason Shariah-Compliant Finance was created was to promote Shariah and Islam. According to the Thomson-Reuters Islamic Finance Development Indicator (IFDI), it is accomplishing its mission… • The number of Islamic finance conferences with more than 100 participants worldwide surged by 41% to 107 in 2013 from 76 in 2012, with 36 countries hosting conferences […]
Demand for Shariah Finance training from non-Muslims rose more than fourfold in the past seven years as students seek to enter the industry… http://www.bloomberg.com/news/2014-08-07/shariah-study-lures-non-muslim-students-in-asia-islamic-finance.html
The Philippine government is planning to issue Shariah-compliant bonds, or sukuk, for the first time in the predominantly Catholic nation in order to finance a number of infrastructure programs and generally raise investment from the oil-rich Middle East. For example, Qatar and the Philippines in 2012 agreed to set up a $1bn investment fund that would focus […]
Bank of England’s efforts to shill for Shariah escalate
There is no greater cheerleader for Shariah and financial jihad in the Western world than the elected and appointed officials of the United Kingdom… The Bank of England is studying ways to increase the number of sharia-compliant assets that Islamic financial institutions can use in their liquidity buffers, a step towards reducing concentration risks in […]
The desperate quest to retrieve petrodollars sent to oil-rich Islamic states results in individuals and institutions outside the Islamic world embracing the Islamic doctrine of Shariah, allowing it to infiltrate through the financial underbelly… The 24th meeting of the IFSB Council, hosted by Autoriti Monetari Brunei Darussalam (AMBD), was held on 27 March 2014 at the […]
Luxembourg on the Brink of Shariah-Compliance
The quest for petrodollar capital is prompting Luxembourg to issue a Shariah bond. There is still hope that Luxembourg might be brought back from the brink, however. The transaction is being scrutinized by the Council of State, a body which advises the national legislature and they’re exhibiting appropriate skepticism… “First, in the world of finance, […]
Dubai Islamic Bank to Pursue Islamic Imperialism Through Finance
Dubai Islamic Bank plans to expand its operations into Indonesia, Kenya and other African countries. The expansion into Indonesia is not particularly noteworthy, since Indonesia is the world’s most populous Muslim nation. But the plans for Kenya are a different issue entirely. Kenya has a relatively small Muslim population (about 15% at last count) but […]
Kenya Set to Overhaul Financial System to Accomodate Shariah
Kenya’s financial regulator has proposed a separate regulatory framework for Islamic financial institutions as part of a broad ten-year strategy designed to boost capital markets. Most estimates put the number of Muslims in Kenya at only about 15 percent of the population of 40 million. But Shariah-compliant finance, which is also being developed by several other […]
Britain Moves Closer to First Western Issue of Shariah Bond
The UK government is a little closer to its widely anticipated issue of a sovereign sukuk, or Islamic bond. Last October in London during the World Islamic Economic Forum, British prime minister David Cameron announced the UK’s intentions of becoming the first Western country to issue a sukuk. Since then, Luxembourg and Hong Kong have […]
BreitBart.com: London is Shariah City
BreitBart.com has recognized the infiltration of Shariah into the UK via the financial underbelly in an article published last night. Excerpts and link… Britain has six “fully Islamic” banking organisations and government minsters are attempting to attract even more Sharia-compliant finance initiatives to the UK. But concerns will no doubt abound, considering the extra cost […]
The Pakistani-based AlHuda Centre of Islamic Banking and Economics (CIBE) is slated to conduct a Shariah finance and banking road show of sorts across the continent of Africa. Among the countries that CIBE will be proselytizing in will be Tanzania, Tunisia, Nigeria, Kenya, Ghana, South Africa and Mauritius. https://www.zawya.com/story/AlHuda_CIBE_will_Organize_African_Islamic_Banking_and_Finance_Road_Show-ZAWYA20140224135617/ CIBE is becoming a nefarious force in the […]
The Infiltration of the British Financial System Continues
Elected officials in the UK have long expressed the desire for London to become a “mecca” of Shariah finance in the West (pun intended). They have bent over backwards to promote Shariah finance for years. Despite these efforts, statistics show that Shariah banks in the UK lag behind their conventional counterparts. Perhaps this is because […]
As widely reported on the web and here on SFW yesterday, the UK has decided to go ahead and issue a sovereign sukuk. In other words, the United Kingdom will issue a government security that complies with a foreign law. The UK is the first Western nation to do so and British leaders say they […]
For well over a decade, Westerners have watched with concern as the UK has become more and more Islamisized. As part of that insidious process, some 85 Shariah courts currently operate in the country as a parallel legal system. Now the British embrace of Shariah is about to become more complete. As we have reported […]
The effort by some in the United Kingdom to allow Shariah to infiltrate their legal system and culture through the financial back door continues apace. The latest push saw London’s deputy mayor travel to an “Islamic finance” conference in Kuala Lumpur, Malaysia to promote his hometown as a center for Shariah-compliant finance. From ArabianBusiness.com: Britain […]
Shariah banking experts have called on the Central Bank of Egypt to tailor its policies regarding Shariah banking services to be more in line with those of Shariah banks themselves. The call came during the fourth annual conference of the Egyptian Islamic Finance Association, during which the association launched its index of shares compatible with […]
The emergence of Shariah-compliant Finance in Tunisia is hardly surprising given the emergence of the Muslim Brotherhood and Salafist factions in the wake of the so-called “Arab spring.” According to Reuters, Shariah-compliant finance could gain as much as a 40% marketshare in Tunisia. A poll in Tunisia indicates that 54% of respondents would switch their […]
A British minister called for turning London into a global center for Shariah finance on the 69th anniversary of D-Day. “It’s about making Britain the preferred choice for the Muslim world to invest in and do business in,” senior Foreign Office minister Baroness Warsi claimed in a speech to the Oxford Center for Islamic Studies. “It is […]
Turkey is fast becoming the “poster child” for Islamization and Shariah-Compliant Finance. This is no secret, in fact another post from earlier today pointed this out: https://shariahfinancewatch.org/2013/05/31/shariah-banks-thrive-in-previously-secular-turkey/ We also came across another article about the emergence of sukuk, or Shariah-Compliant Bonds in Turkey. As we have pointed out on numerous occasions, sukuk are increasing the […]
Gulf Nations to Continue Shariah-Compliant Sukuk Push
HSBC Bank, perhaps the West’s most shameful pimp for Shariah-Compliant Finance, and a serial violator of Treasury regulations regarding Iran sanctions, is reporting that the market for Shariah-Compliant bonds (known as sukuk or Islamic bonds) is set to break records in 2013 thanks to the proliferation of issues from Gulf states. Mohammed Dawood of HSBC […]
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