The 500 euro note, one of the largest denomination notes in the world, is being pulled from distribution in the United Kingdom. They are known in some countries as “bin Ladens” – the bank note everyone knows exists, but few people other than criminals will ever see. The decision comes after police linked 90 per […]
Feds Move to Seize Alavi Assets, Aiming at Iran, Bank Melli (World’s Number 1 Shariah-Compliant Bank)
Yesterday the US attorney’s office in Manhattan moved to seize assets of a non-profit foundation tied to Iran. Among those assets are four mosques in New York, California, Maryland and Texas, 100 acres of land in Virginia and a 36-story building at 650 5th Avenue in Manhattan. Much of this activity centers around the ties […]
Douglas Farah on Iran’s Expanding Latin American Reach
Douglas Farah is one of America’s most valuable experts on the subject of Jihad and the financial aspects of Islamist terrorism. On Friday, 23 October, Farah posted an excellent article on Iran’s continuously growing activities in the Western Hemisphere, with a particular emphasis on Iran’s inroads into the financial services sector in Central and South […]
A prominent Lebanese businessman was charged over the weekend with embezzlement, distributing invalid checks and violating Lebanese fiscal laws in a case that local media have estimated could represent a loss of hundreds of millions of dollars to investors. Salah Ezzedine, a financier and business mogul from Lebanon’s Shiite Muslim community who has ties to […]
Yemeni men plead guilty in NY to money laundering
Three Yemeni businessmen in western New York have pleaded guilty to money laundering charges, ending their federal court trial. The men were charged in March 2007 after authorities said they sent $200,000 overseas knowing it was illegally obtained and could benefit the Iranian-backed, Lebanese-based Jihadist terrorist group Hezbollah. These men will be sentenced to between […]
“The United States will likely sanction a newly opened Gaza Strip-based bank said to have Hamas members on its board of directors, say former government officials. The National Islamic Bank, which opened in the Hamas-controlled portion of the Palestinian territories on Tuesday, plans to hold accounts for 6,000 employees of the political organization, sanctioned as […]
Last week, we reported on action taken by the US Treasury against Doha Bank in Qatar as reported by Money Laundering Alert. This week is barely off to a start and Money Laundering Alert has just come out with a new report on an Islamic Bank in Gaza which has been blacklisted by the US […]
Readers of SFW may recall that we have been closely watching University Islamic Bank in Ann Arbor, Michigan: https://shariahfinancewatch.org/category/university-islamic-bank/ We have always been troubled by many aspects of Shariah-Compliant Banking and Finance and we were taken aback by the attitudes expressed by the President of the bank, Stephen Ranzini. We addressed all of those issues […]
Another Muslim charity tied to terror
One of the chief concerns about Shariah-Compliant Finance is the dual system of payments to Islamic charities that is an important aspect of being Shariah-Compliant. One of the payment systems is tied to one of the five pillars of Islam, that of zakat, which is a form of tithing mandatory for pious Muslims, and also […]
Iran, Terrorism, Proliferation and Shariah-Compliant Finance
In April of 2008, I attended Harvard Law School’s celebration of “Islamic Finance.” This event has been labeled by others as “shilling for shariah” at Harvard and, I must say, that is exactly what it was. During the two days of presentations, there was absolutely no critical thought expressed on the wider issue of Shariah. […]
by Nancy Reyes http://tinyurl.com/5qw4bw Sometimes making peace just makes things worse, as can be seen in the Philippines. President Arroyo has been under a lot of pressure by Muslim countries and the United States to make peace with the remaining Moro (Muslim ethnic) group in Mindanao. The MNLF made peace years ago, but the […]
Malta at risk of intermediate money laundering http://tinyurl.com/5p5kwn by Vanessa Macdonald – [email protected] Local News — 29 August 2008 — 10:30CEST It is possible that Malta is being used by criminals to launder money in the intermediate stage, according to the annual report issued by the Financial Intelligence Analysis Unit. The unit said that just […]
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