Zakat for Jihad in Pakistan
The good folks over at Money Jihad blog uncovered an important article on zakat fundraising for jihad in Pakistan. This time it’s the two groups held responsible for the Mumbai attacks. These groups and their zakat support are no strangers to SFW readers: https://shariahfinancewatch.org/2009/02/03/the-mumbai-terrorists-zakat-and-charities/ Now, just over a year later, these same terrorist groups appear […]
The Pakistani Federal Investigation Agency (FIA) has uncovered a gang of criminals involved in embezzlement of huge amounts of Zakat money disbursed to Holy Family Hospital (HFH) for treatment of poor patients. http://www.thenews.com.pk/daily_detail.asp?id=222434
10 Sukuk Defaults at Year-End 2009
While it has received virtually zero coverage in the Western financial media, by researching Islamic blogs, we have come across a very interesting piece of information: there were 10 sukuk (Islamic bond) defaults at the end of 2009. We all know about the Dubai sukuk default, but there were evidently several others, including one involving […]
Malaysian Islamic reinsurer MNRB Retakaful forecasts that revenue from its overseas operations will exceed that of domestic operations in five years. It particularly has its sights set on Indonesia, Brunei, Sri Lanka and Pakistan. Spreading Shariah insurance to these countries is perhaps not as much of a concern since each is already predominantly Islamic, but one […]
Another Saudi Charity Implicated in Funding Terrorism Continues Operations
The excellent Counterterrorism Blog has vital information today on Al-Haramain, a Saudi charity that has been fingered by the UN and the US Treasury Department for financing terrorism. What have the Saudis done about it? Not a thing…it’s hard to prosecute someone for doing what Shariah says to do I guess… http://counterterrorismblog.org/2009/09/al-haramain_foundation_in_news.php
Cricket is one of the most popular sports in the UK and in many of the former commonwealth nations and other nations which were associated with Great Britain at some point in history. One of these nations is Pakistan. Now, members of a cricket organization are raising money for an Islamic charity to send aid […]
The US special envoy to Afghanistan and Pakistan, Mr Richard Holbrooke, says that Taliban militants are receiving more funding from their sympathisers abroad than from Afghanistan’s illegal drug trade. Mr Holbrooke says: “More money is coming from the Gulf than is coming from the drug trade to the Taliban.” Holbrooke thinks the governments in the […]
Literally making a deal with the devil… http://www.mcclatchydc.com/front/story/67289.html
Shariah-Compliant Finance as a Safe Haven: Myth and Reality
Promoters of Shariah-Compliant Finance routinely violate the trust of investors when they proclaim that investing according to shariah principles has provided a safe haven from the recent and current financial crisis. Could any other sector get away with such lies? The lies emanate from the entire range of shariah practitioners, from individual investors themselves all […]
The Pakistani government entered into a deal with Jihadists over a month ago in which the Taliban will be able to rule in the Swat Valley of NW Pakistan by Shariah law. Not surprisingly, this has only whetted the Jihadists’ appetite for more and wider Shariah… http://www.geo.tv/3-22-2009/37970.htm
Over the past week, we have been following an exchange between the CEO of University Islamic Bank in Ann Arbor, Michigan, Stephen Ranzini, and Christopher Logan of Islam in Action blog. For those of you who missed the first two parts of this exchange, you can catch up here: https://shariahfinancewatch.org/category/university-islamic-bank/ In Part 3 of this […]
Pakistan, nesting ground of the Taliban, launching site for the Mumbai terrorist attack and haven for Al Qaeda, is putting on a countrywide roadshow to promote “Islamic banking.” http://www.tmcnet.com/usubmit/2009/03/12/4050232.htm
Olivier Guitta of the Foundation for the Defense of Democracies has written a sobering piece for the Middle East Times about the spread of Shariah. He gives summaries of developments in Pakistan, Italy, France, Great Britain and Switzerland, with a particular emphasis on family law and the rights of women. Of particular interest was this […]
HSBC’s Shariah Man
Two days ago we linked to an article about financial giant HSBC’s continued and growing embrace of Shariah-Compliant Finance: https://shariahfinancewatch.org/2009/02/25/hsbc-expands-its-embrace-of-barbarism/ Today we would like to elaborate on HSBC’s connections in this area by focusing on the firm’s close ties to a creepy Mufti who has no business being associated with any respected Western financial institution. […]
The Result of Pakistan’s Separate Peace With The Taliban: The End of Women’s Rights
The article below from Dawn.com needs very little introduction. It vividly describes how the brutal Taliban use Shariah against women. This article should be made required reading for every financial CEO in the West that has decided to embrace Shariah through Shariah-Compliant Finance. http://dawn.net/wps/wcm/connect/dawn%20content%20library/dawn/news/pakistan/Whither-Swats-women–il
Linked below is a very important article which ties Shariah directly to Jihad. The whole purpose of Jihad is to see Shariah imposed as the only rule of law. The article, from The Pakistani Observer, is poorly translated and roughly written, but it gets that one vital point across… What exactly is the Al-Qaeda? What […]
A couple of days ago, our “allies” in Pakistan made a separate peace with the Taliban in a deal in which they agreed to allow Shariah Law to be the law of the land in the northwest Pakistani provinces. This wasn’t so much of a reach for them, since Shariah has a prominent role throughout […]
The Jihadists have beheaded another helpless civilian, this time a Pole. Unlike many nations, Poland appears to have a president with the right attitude. We wish the Poles godspeed as they seek to punish those who committed this atrocity.
The Mumbai terrorists, zakat and charities
Two of the chief concerns associated with Shariah-Compliant Finance are the obligatory tithing to “zakat” and obligatory donations of “tainted” revenue. Shariah-Compliant Finance can entail contributions of up to 1/40 (2.5%) of assets per year in a charitable gift (known as zakat) that observant Muslims, Islamic organizations and businesses are obliged to make. Shariah advisors, […]
The true nature of Shariah
Though this blog is dedicated to Shariah-Compliant Finance, no discussion of Shariah-Compliant Finance can be complete without constant reminders of the brutal, primitive doctrine which underlies Shariah-Compliant Finance. Shariah is an all-encompassing code of life that covers and applies to all aspects of Islamic individuals, culture, society, finance and law. The nations that apply Shariah […]
On Tuesday, February 17, a celebration of “Islamic finance” will be held in the Ronald Reagan Building in Washington, D.C. Frankly, the thought of the enemy threat doctrine being promoted inside the walls of the building bearing the name of the greatest American president of our generation is certainly disheartening. The featured speaker is Sheikh […]
FINALLY…a critical article about Shariah-Compliant Finance…
…actually, it isn’t THAT great, but it’s better than most of the fluff pieces being produced on the subject these days. Foreign Policy has published a piece entitled Faith in the Market. They at least attempt a balanced view of Shariah-Compliant Finance, though they miss the most important points (which we will attempt to clear up here […]
By Farhan Sharif Dec. 11 (Bloomberg) — Pakistan banned Jamaat ud-Dawa, an Islamic charity linked to a militant group blamed for last month’s Mumbai attack, ordering police to seal its offices and arrest members. The government decided to impose the ban with immediate effect, Interior Minister Rehman Malik said in a phone interview […]
One of the biggest concerns surrounding Shariah-Compliant Finance is the disposition of “zakat” funds to Muslim charities selected by Shariah Scholars. The attacks in Mumbai actually raise just such a question. The group widely blamed and likely responsible for the horrific attacks is called Lashkar-e-Taiba. Not unlike Hezbollah, Lashkar-e-Taiba is a broad-based Jihadist group which […]
http://www.dawn.com/2008/10/26/nat2.htm Here is an interesting article from Pakistan. It seems that there are concerns in the Muslim world over the lack of transparency with regard to zakat donations. This is ironically similar to one of the key concerns about transparency raised by Center for Security Policy General Counsel David Yerushalmi in his authoritative legal briefing […]
PAKISTAN: Black warrant for a young man is issued despite blood money being paid to the victim’s family Hong Kong: October 27, 2008. A young man, Mr. Umer Khan, (23) will be executed by hanging on October 29, 2008 at Mian Wali Prison, Punjab province. A black warrant (the official document authorising the execution) […]
www.daylife.com Photo of another girls school bombed in Pakistan PAKISTAN: TALIBAN BOMBS CATHOLIC GIRLS’ HIGH SCHOOL Blast claims no victims but reflects radical Islam’s tightened grip. ISTANBUL, October 14 (Compass Direct News) – Taliban militants bombed a Catholic-run girls’ school in Pakistan’s war-torn Swat Valley as part of a larger effort to subvert women’s status […]
A Pakistani money-changer counts US dollars United Press International – Oct 10, 2008 36 minutes ago ISLAMABAD (AFP) — Already nearly broke when the global financial crisis took hold, Pakistan now faces further woes that could take the nuclear-armed nation’s security situation closer to the edge, experts said. The country, a frontline ally […]
Of Pakistani bondage www.yaleglobal.yale.edu By Ayaz Amir 10/10/2008 There is no end to the ironies which afflict our increasingly caught-in-a-bind republic. George Bush, sure to be commemorated as one of the greatest disasters to reside in the White House, may be about to depart into the pages of history or into well-deserved oblivion. But […]
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