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 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 […]
Bank Negara of Malaysia claims to be in the final stages of developing instruments that will facilitate cross- border transactions by financial institutions to improve liquidity in the Islamic banking system. After announcing this development, the bank declined to provide any details. This is a microcosm of Shariah-Compliant Finance: big on claims, small on disclosure […]
As we have pointed out previously, Malaysia is fast becoming ground zero in Shariah Finance, at least in the Far East… http://www.theage.com.au/business/kuala-lumpur-a-world-financial-centre-through-growth-in-islamic-banking-20100308-pss0.html?
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 […]
Malaysia and Hong Kong in Landmark Pact to Develop Islamic Capital Market
Malaysia is hell bent for leather to establish itself as the epicenter of Shariah Compliant Finance. It is, of course, no coincidence that Malaysia is also in the process of attacking free speech and imposing other aspects of Shariah on its populace… http://news.yahoo.com/s/prweb/20091124/bs_prweb/prweb3253974?
Linked below is an article by a man named Arthur MacDonald in which he repeats the myth that “moral” Shariah-Compliant Finance has provided protection against the economic crisis. We regret to inform Mr. MacDonald, but Shariah Finance is neither moral, nor a protector against economic crisis. Consider that the world’s largest Shariah-Compliant financial institutions are […]
Shariah Financiers Court Korea
As we have reported here on SFW previously, the Shariah finance missionaries are moving into South Korea, a country with virtually no Muslim population: https://shariahfinancewatch.org/category/south-korea/ The latest da’wah activity aimed at South Korea involves a major upcoming event hosted in Kuala Lumpur which will focus on Korean “investment bankers, advisers, issuers and institutional investors.” http://www.bernama.com/bernama/v5/newsbusiness.php?id=455590
Horizontal and Vertical Integration, Shariah-style
If any of you had any doubts as to the true purpose of Shariah Finance (to promote Shariah itself), the article linked below should go a long way toward convincing you. A large Shariah bank in Kuala Lumpur (one of Shariah’s epicenters), CIMB Islamic, has announced a new financing program aimed specifically at small and […]
Shariah Finance industry holds award dinner
Though it is not the main theme of the article linked below, a major awards dinner was held in Kuala Lumpur, Malaysia on Tuesday night and we thought the listing of recipients was interesting in that it provides insight into the major players working to promote Shariah through its financial arm. It is always also […]
Speaking at an investors forum in Kuala Lumpur, Malaysia, Malaysian Deputy Prime Minister Tan Sri Muhyiddin Yassin today called on local and foreign Islamic finance consultants and advisors to spearhead the enrichment and dissemination of Shariah knowledge. This is not the first time that a political leader in an Islamic nation has instructed the Islamic […]
There is a plan being promoted to create an Islamic Investment and Economic Center at the Malaysian Port Klang Free Zone. Besides the obvious contradiction between “free trade” and Shariah-Compliant Finance and Islamic Economics, there isn’t really much about this article that is especially earth-shattering. However, when one looks more closely into the depth of […]
Oops, there appears to be trouble in paradise. It seems, as we have been reporting on SFW for months, that Shariah banks aren’t quite the safe havens their promoters have been crowing about. And, to top it all off, now the lawyers are getting involved… http://www.reuters.com/article/newsOne/idUSTRE54B0O020090512
KUALA LUMPUR, Sept 30 – This year is highly likely to witness the first-ever decline in overall issuance of Islamic bonds, known as Sukuk bonds, since reliable statistics began to be compiled, with the annual total expected to fall by as much as 50 per cent from the previous year. The expected sharp […]
Monash’s Islamic conference in M’siawww.ecobook.com The 6th International Islamic Finance Conference 2008 in Kuala Lumpur on Oct 13-14, will provide new insights into the innovations and market strategies for Islamic finance, says Monash University’s director of banking and finance, School of Business, Prof Bala Shanmugan. The conference is organised by the Institute of Bankers […]
Shariah finance needs original deals, not copycats – scholarMohamed Akram Laldin ww.islamicfinanceevents.com KUALA LUMPUR: Shariah banking needs to develop more of its own products and avoid imitating conventional financial instruments in structures that compromise the spirit of Islam, a leading religious scholar has said. Shariah instruments have to satisfy Islam’s objective of ethical and equitable […]
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 […]
Sharia lawyers say extend cuddle ban to non-Muslims Reuters Wednesday, April 2, 2008; 11:41 PMAnother victim of Shariah law, cuddling will be banned in Malaysia even to non muslims! KUALA LUMPUR (Reuters) – Islamic lawyers meeting in Malaysia want an existing ban on unwed Muslim couples from cuddling or holding hands to be extended to […]
Pandora’s Box: Shariah Law in Indonesia Jennie S. Bev 26 February 2008 A declaration that existing local shariah laws can stay in place could generate more shariah laws In November 2007, Indonesia won the prestigious Democracy Award from the International Association of Political Consultants (IAPC) for its peaceful transition into democracy over […]
List of Major Banks dealing with Shariah Finance-tools for research
Here is a list of banks that are expanding the Islamic Shariah industry worldwide. Also, a link to the major periodicals that discuss Shariah Finance. In order to combat this rising influence on our banking industry, you must learn and understand what it is. This type of banking is a screen to infiltrate into a […]
http://www.andrewbostom.org/blog/2008/01/20/clitoral-relativism%e2%80%94female-genital-mutilation-in-%e2%80%9ctolerant%e2%80%9d-islamic-indonesia/ Clitoral Relativism—Female Genital Mutilation in “Tolerant” Islamic Indonesia January 20th, 2008 by Andrew Bostom An August 1993 report in the British Medical Journal (abstracted here) on Female Genital Mutilation (FGM) stated plainly, in its summary conclusions: Female genital mutilation, also misleadingly known as female circumcision, is usually performed on girls ranging in from 1 […]
Islamic Finance-From Reuters, “Safe Haven or Irrational ecuberance?”
Islamic finance: safe haven or irrational exuberance? Reuters Monday December 10 2007 By Mark Bendeich KUALA LUMPUR, Dec 10 (Reuters) – Global financial markets are in turmoil but in the strangely calm world of Islamic finance, no one looks like jumping out of a window any time soon. As conventional credit markets seize up, forcing […]
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