Looted Libyan Artifacts Recovered in Spain, Two Arrested
posted by Christopher Holton Ancient objects looted from areas controlled by the Islamic State group in Libya have been recovered by police in Spain. Two experts in ancient art – both aged 31 – have been arrested in Barcelona. They are suspected of being part of an international ring that bought the artefacts from groups […]
ISIS Enforcing Shariah Finance in Libya at Bayonet Point
H/T to Money Jihad: Islamic State operatives in Sirte, Libya, have ordered banks there to close because they profit from charging interest. ISIS told the banks that they “must change to Islamic banking” before they can reopen. If you know somebody who still doubts the connections between sharia-compliant banking and terrorism, please forward them this […]
Our friends at the outstanding Money Jihad blog are back from their annual summer vacation with two extremely interesting posts this week. Check them out: The first is a post about Judge Andrew Napolitano’s column implicating then-Secretary of State Hillary Clinton in the apparent scheme to funnel Libyan arms to “rebels” (i.e. Jihadis) in Syria… […]
This report is especially interesting given Goldman Sachs’ shameful attempts to promote Shariah-Compliant Finance. If Goldman is willing to buy booze and women for Qaddafi, what are they willing to do for Shariah scholars? Donate to their charities? Goldman Sachs employees had an “improper” relationship with a Gadhafi-era Libyan sovereign wealth fund, including a lavish […]
Reports indicate that a new private Shariah-compliant bank will open in Sebha, Libya. One of the proposed branches will be a women’s only bank.
Libya’s sovereign wealth fund is suing French bank Societe Generale in a British court for $1.5 billion for allegedly channeling bribes to allies of the son of slain dictator Muammar Qaddafi. The Libyan Investment Authority is seeking compensation from the bank and from Walid Giahmi, an alleged associate of Saif al-Islam Qaddafi, for what it […]
“Ethical Investing” from Countries Overrun With Corruption?
Transparency.org has publishes a Corruption Perceptions Index that rates the level of corruption in the world’s nations. The most recent year for which there is data is 2011. The results are instructive for observers of Shariah Compliant Finance. Shariah-Compliant Finance is often touted by the financial jihadists as “ethical” investment. There are a variety of […]
The Islamist revolution is in full bloom in Libya (thanks to NATO, but we digress). Bloomberg out of Dubai, which is such a cheerleader for Shariah finance that they can’t be completely trusted to report facts, has published a report that indicates that ordinary Libyans are holding on to some $12 billion of cash, just […]
Many changes have come and are still set to come to Libya in the wake of the overthrow of Col. Moamar Qaddafi. A few we have seen already: • Al Qaeda flags flying over courthouses. • Promises of Shariah being imposed from new regime officials. • The emergence of Islamist political parties and the Muslim […]
The Canadian government has revoked the registration of a longtime Canadian charity that it says was established as a front by Libyan ruler Moammar Gadhafi to funnel money to terrorists the world over — including a Muslim militant cell implicated in a 2007 plot to blow up JFK airport in New York City. According to […]
There is general outrage in the US about the revelation, which the US Federal Reserve tried to keep secret, that a Libyan bank got 73 loans from the US taxpayers during the 2008 financial crisis… http://www.theglobeandmail.com/report-on-business/top-business-stories/how-a-libya-owned-bank-borrowed-from-fed-in-crisis/article1966694/
The folks at Money Jihad have just published a listing of nations and zakat systems. (For new readers, zakat is the system of mandatory tithing in Islam.) You’ll notice several problematic countries with mandatory, government-operated zakat: Saudi Arabia, Yemen, Pakistan, Libya to name four. Keep in mind, however, that government administration neither adds any legitimacy […]
Islamic Development Bank could raise $500m bond (sukuk)
The Jeddah, Saudi Arabia-based Islamic Development bank will soon issue a $500 million sukuk or Islamic bond issue. This is rather controversial in Shariah Finance circles since Mufti Taqi Usmani issued an opinion last year declaring that most such instruments are in fact NOT Shariah-compliant and are unislamic. That opinion, along with the world economic […]
www.cnn.com In an interview on the same BBC2 programme, Saif al-Islam al-Qathafi, chairman of the Al-Qathafi Foundation for Human Rights accused relatives of the Lockerbie victims of being “very greedy” during negotiations over payouts for the deaths of their loved ones. He said that the Lockerbie families had traded with “the blood of their […]
BBC NEWShttp://tinyurl.com/6p3zg6 Swiss anger at Libyan ‘reprisals’ The Swiss foreign ministry has protested to Libya over what it called retaliatory measures for the arrest of Muammar Gaddafi‘s youngest son. The ministry said Swiss companies ABB and Nestle have been ordered to close their Libya offices and Swiss staff there have been arrested. Geneva police […]
Kadhafi’s son arrested for violence in Geneva hotel Hannibal Kadhafi GENEVA (AFP) — A son of Libyan leader Moamer Kadhafi has been arrested by Swiss police after being accused of assaulting staff at a Geneva hotel, Swiss media reported Thursday. Hannibal Kadhafi, 32, was arrested at the five star Hotel President Wilson on Tuesday after […]
An aerial view of an offshore oil platform Occidental Petroleum Signs Agreements in Libya Occidental Petroleum Corporation (NYSE:OXY) announced the signing of the full 30-year agreements with the Libyan National Oil Company (NOC) to upgrade its existing petroleum contracts. Occidental Petroleum Chairman and Chief Executive Officer Dr. Ray R. Irani attended the signing ceremony with […]
<!–Section Title BUSINESS–> $3bn drilling firm to tap oil sector boom By ARTHUR MACDONALD MANAMA: Bahrain-based First Energy Bank unveiled its first major investment with the launch of a $3 billion drilling company that will exploit opportunities in the booming oil industry across the Middle East, Asia and North Africa. MENAdrill has been […]
Foreign oil firms in Libya to sponsor football clubs Sponsorship contracts signed by 16 national, foreign companies to finance football teams in Libya. TRIPOLI – Foreign oil companies operating in Libya must sponsor first division football clubs if they want to take part in development projects, the state-run National Oil Corporation said on Wednesday.Sponsorship contracts […]
Gathafi is opposed to the Mediterranean Union http://www.middle-east-online.com/english/libya/?id=26627 France in Libya talks over Mediterranean Union Senior French envoy’s talks with Libyan leader focus on Mediterranean zone, African and European Unions. TRIPOLI – A senior French envoy held talks with Libyan leader Moamer Gathafi on Thursday over plans for a Mediterranean bloc based on the European […]
Oil supply adequate, no calls for OPEC meet. 2008-06-08 Global oil supplies are adequate and there are no moves within OPEC to hold an emergency meeting to discuss record oil prices, Libya’s top oil official said on Sunday.”I think there is enough oil in the market, I did not hear anybody calling for a […]
Tuareg Capital and Capital Management House announce Libya Fund. 2008-06-09 Tuareg Capital, the private equity group with focus on Libya and Capital Management House, the Bahrain based financial institution, announced today that their investment initiative, the Libya Fund, via TAB Energy, a wholly owned subsidiary of the Fund has acquired a majority interest in […]
UPDATE 1-Italy bristles at Libya warning on right-winger Sun May 4, 2008 1:08pm EDT http://www.reuters.com/article/rbssEnergyNews/idUSB51097420080504?sp=trueRoberto Calderoni By Deepa Babington ROME, May 4 (Reuters) – Italy’s foreign minister attacked Libya’s warning against appointing a far-right lawmaker to a ministerial post as “intolerable” interference in internal affairs, adding to a growing political outcry over the issue. […]
EU proposes launching talks with Libya this year Wed 27 Feb 2008, 14:23 GMT By David Brunnstrom BRUSSELS, Feb 27 (Reuters) – The European Union executive on Wednesday proposed launching talks on closer political and economic ties with Libya this year as part of a drive to boost relations with key energy suppliers. A framework […]
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