Big Four auditors KPMG and PricewaterhouseCoopers can shield documents sought by an investment fund for sprawling litigation related to the fall of two powerful Saudi conglomerates in 2009, the Second Circuit ruled. The ruling deprives the New York-based firm Fortress Investment Group of ammunition it wanted for legal battles in England, Bahrain, the Cayman Islands […]
An accountant who confessed to supporting Al Qaeda with money and supplies has been sentenced to 18 years in prison, a sentence we consider ridiculously light for such a crime. Sabirhan Hasanoff, 37, who holds dual citizenship in the US and Australia, was sentenced in Manhattan federal court, where he pleaded guilty last year to […]
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. […]
It is widely known that much of the funding for Jihadist terrorist organizations, such as Al Qaeda, Hamas, Abu Sayyef and Jemaah Islamiyah come from private donations to Islamic charities through zakat payments, a system of tithing in Islam. The Saudi government claims that they are virtually powerless to stop this activity, something that makes […]
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