Shariah Finance Watch editor briefs Congressional staffers on Shariah-Compliant Finance
Recently we had the opportunity to brief staff members from 10 Congressional offices on the threat of Shariah Finance. The briefing was recorded and we have posted the full 1-hour briefing here for SFW viewers… Shariah Compliant Finance and Financial Jihad
But Who Will “Police” the Shariah Scholars?
We came across this typically ridiculous article about the role of Shariah scholars in “policing” or “guiding” Shariah-Compliant Finance and decided to use it to illustrate the complete disconnect between the concept of responsible financial regulation in the Western world and that in the Shariah-dominated world. Dr Rusni Hassan, a shariah adviser to HSBC Amanah […]
The Banker points out problems with Shariah Finance
The British publication “The Banker” has mostly been a cheerleader for Shariah Finance for several years and they have written an article which, while viewing Shariah Finance in a positive light, also points out some of its serious flaws: • “Greed and selfishness” exist in Shariah Finance just as they do in conventional finance. This […]
Islamic finance board to set liquidity standards (an admission of trouble)
The Islamic Financial Services Board plans create guidelines for shariah-compliant banks to manage liquidity risks as the industry looks to beef up regulation after the financial crisis. Shariah-compliant banking has been hit by sukuk (Islamic bond) defaults and the now-deflated Dubai real estate bubble, though numerous industry spokesmen have spread the lie that Shariah Finance […]
Promoters of Shariah-Compliant Finance are fond of claiming that it is either immune to, or even a solution for, the financial crisis. They base this on the Shariah prohibition against interest. What they don’t say, and what the article from the AP linked below fails to mention is that Shariah-Compliant financial institutions get around the […]
http://tinyurl.com/6k9cqh HAT TIP-www.infidelsarecool.com LAHORE: Tehreek-e-Islami Taliban Pakistan (TITP) has distributed a fifteen-days notice to several “un-Islamic” businesses in Kot Addu to shut down or face dire consequences. The TTIP wrote threatening letters to owners of CDs shops, Internet cafes and cable service providers urging them to close down their activities. Similarly, the group warned that […]
Visit visa to the UAE will cost Dh500 from August 09 June 2008 http://www.zawya.com/printstory.cfm?storyid=ZAWYA20080609042729&l=042700080609 Abu Dhabi: Visit visas to the UAE will cost Dh500 from August 1 following the revamp of the structure and charges of entry documents in line with a cabinet decision, a senior official said. New types of visas have […]
<!–Section Title BUSINESS–> World Islamic Funds Conference opens By ARTHUR MACDONALD MANAMA: The two-day Fourth Annual World Islamic Funds and Capital Markets Conference begins today at Gulf International Convention Centre. The event will be opened by Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj and Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) […]
Stanchart opens its largest trading floor in Middle East Standard Chartered bank has opened its largest trading floor in the Middle East at the Dubai International Financial Centre (DIFC), the global financial hub. From correspondents in Emirates, United Arab Emirates, 29 Apr 2008 4:01 PM – (www.indiaenews.com) Standard Chartered bank has opened its largest […]
NPR Marketplace commentary from this morning on the need to introduce fuel choice in the transportation sector. To listen to the segment click here: http://marketplace.publicradio.org/display/web/2008/03/18/flex_fuel_cars TEXT OF dollar a gallon gas has officially hit the shores of Hawaii and Guam. And California is not be far behind. But high prices are just one in a […]
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January 30, 2008 at 3:03 pm Demand fuels growth and evolution of corporate sukuk market with sukuk costs set to drop – S&P Standard & Poor’s Ratings Services said market demand for sukuks, or Islamic bonds, will continue to the extent that they evolve into a more commoditized asset class. “Although corporate sukuks are as […]
January 30, 2008 at 3:03 pm Demand fuels growth and evolution of corporate sukuk market with sukuk costs set to drop – S&P Standard & Poor’s Ratings Services said market demand for sukuks, or Islamic bonds, will continue to the extent that they evolve into a more commoditized asset class. “Although corporate sukuks are as […]
ALERT-Opening Doors to Islamic Financing
Welcome to UIFC: OPENING DOORS TO ISLAMIC FINANCING (hat tip Margo I) Jan 20, 2008 University Islamic Financial Corp: Islamic Banking & Islamic Finance http://www.universityislamicfinancial.com/?gclid=CKfWqq7dhZECFRsTawod-jEFGQ University Bank is a community bank based in Ann Arbor, Michigan serving the diverse needs of all consumers and is rated Outstanding by the FDIC for community service and community […]
MUST READ-How the Muslims are marketing Islam, without “Islamic” jargon
Here are some excerpts from the http://www.universityislamicfinancial.com website. Note below in the FAQ area, they specifically note that Some of our products in development will be designed without specific “Islamic” jargon in order to provide financial services to anyone. Margo I.FAQ: http://www.universityislamicfinancial.com/faq.html Query: Are SHAPE™ programs open only to Muslims? SHAPE™: No! SHAPE™ programs are meant to […]
This article discusses the issues of a free press in the MIddle East. While they espouse changes, it is still a very integral part of Shariah law, and we should not be deterred by their claims of a new opportunity of freedom comments by Allyson Rowen Taylor Print this page Long road to press freedom […]
Issues and Relevance of Islamic Finance in Britain-reposted, A MUST READ AGAIN
THese are the words of Iqbal Khan, the HEAD of global Shariah finance in the United Kingdom. Go over the wording, understand the implications of this type of system in democratic countries. Understand the type of banking and what it implies. comments by Allyson Rowen Taylor /* */ Issues and Relevance of Islamic finance in […]
Links to Slideshows promoting Shariah Finance
Slide Presentations-use to learn, educate yourself, and to become familiar with the nature of Shariah finance. In order to defeat it, we need to know what it is, how it is promoted, and the logic used to sell this to the west. comments by Allyson Rowen Taylor A Critical Comparison on Event of Default Clauses and […]
Soverign Forays, Business Standard, New Delhi-The impact of the sub prime problem and the high price of oil
This article spells out the real problems of the selling of our corporations to foreign investors, especially the middle east and Dubai, who realize that oil is going to become secondary, and that taking a foothold into the buying of large portfolios is a way to gain footholds into our democracy and economy. The need […]
Hat tip-Rachel Ehrenfeld http://www.ft.com/cms/s/0/412752ae-afa4-11dc-b874-0000779fd2ac.html?nclick_check=1 Saudis plan huge sovereign wealth fund By Henny Sender and David Wighton in New York and Sundeep Tucker in Hong KongPublished: December 21 2007 09:23 | Last updated: December 21 2007 19:37 Saudi Arabia plans to establish a sovereign wealth fund that is expected to dwarf Abu Dhabi’s $900bn and become […]
Beware! This could wreck American Financial Markets
It’s the new animal, and it’s the prowl in the global finance and capital markets. To all those who had repeatedly asserted that capital, especially global capital, does not have colour and hence one needs to encourage free flow of the same, the reversal in their stated position has been remarkably swift. What is indeed […]
MAC Capital establishes HQ in DIFC
MAC Capital establishes HQ in DIFC Be the first to comment on this article 17 December 2007 MAC Capital Limited (MAC), a leading corporate finance house for Middle East – Asia business flows, today announced that it has been granted a licence by the Dubai Financial Services Authority (DFSA)Dubai Financial Services Authority (DFSA) to operate […]
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 […]
Malaysia opens Islamic finance legal market
Malaysia opens Islamic finance legal market Malaysia’s central bank, Bank Negara Malaysia, will open the country’s legal market to foreign law firms as early as next year. The move, which will see Malaysia permit firms to offer legal advice on matters in the Islamic banking arena only, comes as the country’s government continues its push […]
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Abu Takes Manhattan, Washington, we are doomed!
(Hat tip Margo I)REVIEW & OUTLOOKCiti of Arabia Abu Dhabi takes Manhattan–and Washington, too? Thursday, November 29, 2007 12:01 a.m. http://www.opinionjournal.com/editorial/feature.html?id=110010920 Investors seem delighted that Abu Dhabi is injecting $7.5 billion into Citigroup, bidding up stocks in general on new confidence that the mortgage solvency crisis might ease. We hate to spoil the party, but […]
Dubai Fund Hires BIG Hitters
Financial Times FT.com COMPANIES Financial services // <![CDATA[ if(typeof window.close != “undefined”) {document.write( ‘ Close ‘ ) }// ]]< Close // <![CDATA[ if(typeof subs!=”undefined” && subs==”Y”) {document.write(‘ Subscription page ‘);}// ]]> // <![CDATA[ if(typeof window.print != “undefined”) {document.write(‘‘) }// ]]> Dubai fund hires big hitters By Martin Arnold in London Published: November 29 […]
Islamic Investments in the US growing
Have faith: Islamic investing offers strong returns by Alysia Patterson Nov 08, 2007 Islamic investment strategies are proving they’re worth a second look from Muslim and non-Muslim investors alike. Amana Trust Income, a mutual fund managed by Bellingham, Wash.-based Amana Mutual Funds Trust in accordance with Islamic Shariah law, has increased 13.9 percent year-to-date, […]
Behind Madame Tussauds, there lies the next private equity giant-DIC
fOutputJsLink(‘print’); From The Times-LONDON November 1, 2007 Behind Madame Tussauds there lies the next private equity giant Dubai International Capital was founded only three years ago but it has plans to challenge buyout funds such as Blackstone and KKR Siobhan Kennedy in Dubai Dubai International Capital, or DIC as it is better known, epitomises the […]
Islamic Bank launches Islamic Equity Trading Fund
Posted: 25-11-2007 , 17:47 GMT Emirates Islamic Bank PJSC is pleased to announce the launch of the Emirates Islamic Equity Trading Fund, a new open-ended fund registered through Emirates Funds Limited in Jersey, Channel Islands. The Fund, which is the sixth Shari’a compliant fund in the Emirates Islamic Bank suite of investment funds in Jersey, […]
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