Beware of Financial Jihadist Claims in Post-Pandemic Market
posted by Christopher W. Holton The world economy and financial markets have been beset by an unprecedented collapse brought about by the Wuhan virus pandemic. In such environments charlatans and swindlers often move in to take advantage. One particularly risk for investors will be promoters of shariah-compliant finance. Shariah complaint finance is a form of […]
posted by Christopher W. Holton A speakers’ meeting of the Global Forum on Islamic Economics, Finance and Banking held in Pakistan called for the promotion of Shariah-Compliant Finance around the globe for Muslim and non-Muslim countries as well. This was expressed as an effort to replace the current global banking system with one based upon […]
posted by Christopher W. Holton The ignorance of shariah certainly plays a role in the cooperation by Christians and Jews in facilitating Shariah-compliant finance. For example, according to The Reliance of the Traveler, the widely distributed and read manual of Islamic sacred law, it is unlawful under shariah to assist the religion of the Jews […]
More Propaganda from the Shariah Finance Industry
posted by Christopher W. Holton Bloomberg, one of the biggest financial news conglomerates in the world, has published a story about a report out of Australia by Melbourne’s Deakin Business School, which essentially calls for all investors to consider Shariah Compliant Financial products as safe havens during times of crisis. This is a tired old, […]
posted by Christopher W. Holton We have long maintained that shariah-compliant finance is a modern day Trojan horse through which Jihadists seek to embed Shariah inside the West through non-violent economic means. Nowhere has this campaign been more successful in the West than the United Kingdom. Of course, the UK has already endured a civilization […]
posted by Christopher Holton The financial jihadists have been pushing Shariah finance in Africa for some time, as we have archived here on SFW for years. Now they are reaching into Uganda and the method they are using is from the pulpit. This shows that Shariah finance is in fact a dawa method. Also note […]
posted by Christopher W Holton Down in Australia, Zakaria Zaatiti is being tried for shooting two teenagers back in August. Details of the shooting aren’t complete in the article linked below but we do know that Zaatiti was denied bail, at least partially because he had conducted internet searches for “rocket propelled grenade,” “Islamic State,” […]
The Shariah Finance Trojan Horse Shows Up on CNBC.com
by Christopher W Holton One of the chief concerns from Shariah-compliant finance is that it can be, and has been, used to put people at ease about the true nature of shariah and the threat that is poses. Shariah-compliant finance is also a weapon that Islamists can use to force shariah upon non-Muslims. Both of […]
Why It’s a Bad Idea for Western Financial Firms to Get Involved in Zakat
by Christopher W Holton The issue of zakat is one that is central to the concerns about Shariah-compliant finance, but concerns about zakat should extend far beyond Shariah finance alone. Zakat is a real threat because it is doctrinal in Islam and no figure, organization or body in Islam has the authority to change it. […]
posted by Christopher W Holton Association of Southeast Asian Nations (ASEAN) member countries “should leverage on the rising global demand for Shariah-compliant financial products and services by strengthening their institutional frameworks and devise a bloc-wide integration framework that would allow Asean to capitalise on the industry.” http://borneobulletin.com.bn/bolster-bloc-wide-integration-to-boost-islamic-finance-asean-members-urged/
Dana Gas rejects new Shariah bond restructuring proposal
posted by Christopher W. Holton Dana Gas dismissed a new proposal from bondholders for the restructuring of US$700 million worth of sukuk, in the latest twist of an acrimonious dispute closely watched by Islamic finance practitioners. Discussions between Dana Gas and its sukuk holders soured earlier this year, when the company claimed outstanding sukuk, due […]
posted by Christopher W. Holton In the wake of the Dana Gas sukuk debacle, the UAE has come up with a solution to fix the “complexities” of Shariah finance: centralized government control. Many proponents of Shariah finance in the West claim that free enterprise mandates that Shariah finance be allowed to flourish and expand in […]
by Christopher W. Holton Today’s New York Times has what amounts to an advertorial for Shariah finance, espousing “Retirement Savings, the Muslim Way.” Not surprisingly, given the New York Times’s jaded past, the article is unbalanced and omits many of the concerns about Shariah finance. For starters, there is this passage: Investing in companies earning […]
posted by Christopher W. Holton Shariah finance is a weapon of Islamic imperialism, as evidenced by the fact that Kenya has been targeted for some time to embrace Shariah finance. Unfortunately, those efforts have been successful. Keep in mind that Kenya is less than 12% Muslim, so there is very little inherent demand for Shariah-compliant […]
More fallout from the Dana Gas sukuk debacle
posted by Christopher W. Holton A decision by Abu Dhabi-listed Dana Gas to declare $700 million of its sukuk invalid has sent shivers through the Islamic finance industry, raising concern about the safety of sharia-compliant debt instruments in general. Dana said on Tuesday it had received legal advice that its sukuk, or Islamic bonds, which […]
posted by Christopher W. Holton Shariah compliant finance continues to be an instrument of Islamic imperialism. No where is this more true than in Africa where, in nations like Kenya, which has a very small Muslim population, Shariah compliant financial institutions are descending upon the marketplace. http://www.islamicfinance.com/2017/06/africas-growing-islamic-finance-footprint/
by Christopher W. Holton Linda Sarsour is a name that has become increasingly prominent in U.S. Leftist political circles over the past few years. As detailed by previous Center for Security Policy work, she has been carrying out the curious mission of tying the toxic doctrine of Shariah to the Western feminist movement. It turns […]
posted by Christopher W. Holton This explains in a nutshell why Shariah-compliant finance has gained a firm foothold in the West… Muslims have a whopping $11.5 trillion of wealth to their names, triggering a race among asset managers to tap this massive pool of capital, a Bloomberg report says. According to Washington-based Pew Research Center […]
posted by Christopher W. Holton Shariah finance assets grew by 10 percent to reach $2 trillion in 2015, according to a new report by Thomson Reuters. Shariah banking represented 73 percent of that figure, followed by sukuk (Shariah bonds) which represented 17 percent, said the initial findings of ICD Thomson Reuters Islamic Finance Development Indicator […]
posted by Christopher W. Holton The Channel Islands Securities Exchange (CISE) is seeking to capitalize on interest in Shariah-compliant finance. The Exchange is already home to a number of Shariah-compliant debt securities and investment vehicles. Fiona Le Poidevin, CEO of the Exchange said: “It sends a very strong message to the marketplace that not only […]
posted by Christopher W. Holton Hindu Groups Oppose Entry of Islamic Finance in India…and with good reason. Hindu people have a history of having to endure under the boot of Shariah and countless Hindu have died under the sword of Jihad. Their opposition to the entry of Shariah Finance into India is a positive sign […]
by Christopher W. Holton This morning, 12 May 2016, taxpayer-subsidized National Public Radio ran what amounts to a three and a half minute advertorial for Shariah-compliant banking, specifically a Shariah-compliant bank that will be familiar to long-time readers of Shariah Finance Watch: University Islamic of Michigan. http://www.npr.org/2016/05/12/477758545/michigan-bank-discovers-the-need-for-islamic-finance-products What we find particularly enlightening about the NPR […]
by Christopher W. Holton Increasingly, Shariah-compliant forms of financing are supplanting and replacing conventional financing in the Islamic world. For years, Pakistan has used conventional financing for infrastructure projects, such as bridges. Now the government is embarking on a plan to replace conventional methods with Shariah-compliant financing. While it is not a big surprise that […]
posted by Christopher W. Holton Here is a stark case of creeping shariah. As we have often mentioned here on SFW, the weapon of choice for the financial jihadists is the sukuk, also known as “Islamic” bonds. The reality is that sukuk are not bonds at all. They are a shariah-compliant concoction designed to create […]
posted by Christopher W. Holton Here we have more evidence that Shariah-compliant finance stands diametrically opposed to free enterprise and free market economics. Indonesia is the world’s most populous Muslim nation, yet, there has been little support for Shariah Finance there. So, as is a common practice in all nations involved in Shariah-compliant finance, be […]
posted by Christopher W. Holton It is frustrating and amazing to observe the lengths that Western business interests will go to in inviting the enemy threat doctrine into our financial system to make a quick buck. A case in point would be this latest activity by the World Gold Council to work with Shariah scholars […]
Heriot-Watt’s School of Management and Languages in Edinburgh, Scotland will be home to the new Scottish Ethical Finance Hub (SEFH). The problem with this “ethical” finance operation is that it has its roots in Shariah Finance, which is decidedly UNETHICAL in a variety of ways. Among the troubling aspects of the announcement of the formation […]
By Christopher W. Holton From time to time, we have pointed out attempts by the Shariah finance industry to portray themselves as somehow ethically superior to conventional finance. We have also pointed out that this supposition is patently false. We have pointed out that the largest Shariah-compliant banks in the world are Iranian state-owned banks […]
Ovamba, a U.S.-based investment management firm, plans to provide borrowers in the African small-to-medium-enterprise market with Shariah-compliant financing. Marvin Cole, founder and CEO at Ovamba, said, “Going forward we believe Islamic financial instruments will provide an excellent platform for building businesses of scale.” Based in Chevy Chase, Maryland, Ovamba describes itself as Africa’s debt marketplace. http://afkinsider.com/105625/us-based-firm-promotes-sharia-financing-in-africa/
The global asset value of Shariah-compliant finance, dominated by the Shariah banking sector and the global sukuk (Shariah bond) market, will expand further at an average annual growth rate of around 17% with total assets projected to come close to $3.5tn by 2018. This is the one of the main messages of a new report by the […]
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