The link below contains a strong indictment of how Shariah Finance is practiced by many of the Shariah-Compliant firms in the world. Many, if not most, Shariah firms hire Shariah scholars to form boards to advise them on Shariah and make sure that their products and activities are Shariah-Compliant. This surprising source indicates that this […]
We are very pleased to bring to SFW readers a submission from a financial insider who has seen the world of Shariah-Compliant Finance up close and personal, David Clark. David has spent several years structuring Shariah compliant finance deals. In this time he had access to the leading Islamic scholars and Shariah boards and learned just what a joke “Islamic finance” […]
Hot On the Trail of the Financial Jihadists
Money Jihad blog continues to do stellar work in shining the light on the financial rat line to Jihadist terrorists, particularly those rat lines which run through Islamic charities… “Shall We Judge Saudi Reforms or Saudi Results?” http://moneyjihad.wordpress.com/2010/04/21/shall-we-judge-saudi-reforms-or-saudi-results/ “Readers Defend Holy War Fundraising” http://moneyjihad.wordpress.com/2010/04/19/readers-defend-holy-war-fundraising/ Bangladesh Arrests British HUJI Chief http://moneyjihad.wordpress.com/2010/04/18/bangladesh-arrests-british-huji-chief/ Two More Pro-Terror Charities http://moneyjihad.wordpress.com/2010/04/16/two-more-pro-terror-charities/
The reasons that Sharia Finance is not the innocuous and desirable industry that you described, are fourfold; at its core, it is about promoting Sharia. Everyone who talks about it as you have…does so as though it has nothing to do with Sharia. This is misleading the public and certainly, misleading investors, many of whom, […]
GIVING THE ZAKAT TO THE MUJAHIDEEN
Some still deny that zakat, a form of tithing to charity in Islam, funds Jihad. Today we find the latest evidence of this purpose for zakat. It comes to us from the Islamist web site, Islamicemirate.com. This popular Muslim web site has a fiqh section dedicated to answering questions about Shariah. Here is a question […]
For those who ignore the issue of zakat in Shariah-Compliant Finance, the photograph below should be a revelation. It shows an executive with a Malaysian Islamic Bank handing over a zakat payment to a zakat official with the Malaysian government. At this point we don’t know if a portion of that money will end up […]
All we can say is, you just can’t make this stuff up. And also note that it is March 31st still, not April 1st… http://www.heraldsun.com.au/news/world/online-muslim-sex-shop-conforms-to-sharia-law/story-e6frf7lf-1225847502559
The Current Economic Crisis – Is Islamic Finance a Solution? Parvez Ahmed promotes Shariah on the Huffington Post site from his professorship at the University of North Florida…a state-funded higher education institution… http://www.huffingtonpost.com/parvez-ahmed/the-current-economic-cris_b_516965.html?
Craig R. Smith, the Chief Executive Officer of Swiss America Trading Corporation, has published a report which details developments surrounding the Islamic Gold Dinar, a concept that has been floating around for some time but which has never really come to fruition. Smith points out that such a currency would pose a direct threat to […]
A Scheme to Route Zakat Through OIC?
An official of the Organization of the Islamic Conference (OIC) put forth a proposal this week to route all zakat through the OIC. This would be a troubling development since the OIC is dominated by Saudi Arabia. Saudi Arabia’s official state religion is Wahhabi Islam, a particularly intolerant and violent sect. Moreover, the OIC has […]
Regular readers of SFW know that the Shariah Finance industry sees itself as a missionary arm of Islam and has sought to target non-Muslim investors all along. There are a number of risks associated with this, with two dangers in particular that stand out: • By getting Western investors to use Shariah-Compliant vehicles, they are […]
Oxford Analytica Continues to Shill for Shariah
The economic consultancy Oxford Analytica has frequently used its space on Forbes.com to promote Shariah-Compliant Finance. We have pointed this out on SFW in the past: https://shariahfinancewatch.org/?s=Oxford+Analytica Oxford Analytica has taken yet another step to promote financial jihad with an article on Forbes.com. This new article is so overrun with troubling and disturbing aspects that […]
Here on SFW, we have profiled a particularly evil Shariah scholar named Taqi Usmani: https://shariahfinancewatch.org/2009/05/06/who-controls-shariah-compliant-finance-the-shariah-scholars-of-course/ Among many other things, Usmani is the chief of the Shariah advisory board for HSBC: https://shariahfinancewatch.org/2009/02/27/hsbcs-shariah-man/ Usmani is a bad man, an enemy of the West, a Jihadist to the core. In fact, now that his Jihadist philosophy is becoming […]
Are We Financing Our Own Demise?
Gadi Adelman and the intrepid Joy Brighton have just published an outstanding analysis of Shariah-Compliant Finance over on the Financial Security Matters site. Please take the time to read it and pass it on to your friends and associates: http://www.familysecuritymatters.org/publications/id.5632/pub_detail.asp
We ordinarily do not post links to articles which require a subscription to read, but we made an exception in this case. This is the sad story of a man who traveled to the Persian Gulf nation of Qatar to promote his banking career with a big Qatari bank. He no doubt regrets that decision […]
Last July, we reported on the first leg of a UAE “trade mission” to Australia whose aim it was to promote Shariah finance in Australia. That same mission is now on the second phase of its dawah operations Down Under. Ironically, virtually the entire effort is being driven by the government of Dubai, which has […]
Court Backs Muslim In Unemployment Benefits/Handshake Dispute
A Swedish court ruled Monday in favor of a Muslim man who lost unemployment benefits after refusing a female executive’s handshake, court documents indicate. Stockholm District Court ordered Sweden’s National Public Employment Agency to pay $8,000 to the man, who was withdrawn from a labor market training program after refusing the handshake at a company […]
Pay close attention to the comments on the page linked below, especially the 7th point in the second comment: 7.Fi Sabeelillah (in the cause of Allah ): this is a common word used for all good deeds, but in the case of Zakat it means rendering help to an endeavor to serve Islam such as […]
The Continuing AIG Hellstorm: Jihad Bailout and Money Laundering
An excellent update on the progress of this landmark legal battle from Benjamin Weingarten at Citizen Economists… http://www.citizeneconomists.com/blogs/2010/02/04/the-continuing-aig-hellstorm-jihad-bailout-and-money-laundering/
The Irish Minister of Finance is set to introduce a bill to accommodate the principles of Shariah Law in a bid to attract business from the Islamic world. That business will come with an incredibly high price, as the poor people of Ireland will find out in the years to come… http://www.irishtimes.com/newspaper/finance/2010/0204/1224263733234.html?
The UK Government has proposed new regulations to support Shariah-Compliant Finance and the issuance of corporate sukuk (also known as Islamic bonds). The new regulations, entitled the “Financial Services and Markets Act 2000, Order 2010,” will make the operation of Shariah-Compliant Finance easier in the UK and facilitate the issuance of corporate sukuk. These regulations […]
Is Shariah Banking Safe for Canada?
As the financial jihadists continue to gain a foothold in the West, more and more articles are appearing which question the wisdom of allowing Shariah to penetrate our systems which are based on liberties that are mutually exclusive of Shariah law. The article below pertaining to the introduction of Shariah Banking in Canada contains an […]
Over the past fortnight people from around the world have donated time, money and goods to the victims of the horrible earthquake in Haiti. A host of actors and other famous public figures in the United States held a telethon recently to raise money for the victims in Haiti. One of them was retired boxing […]
Long time readers of SFW are likely familiar with Sheikh Yusuf al-Qaradawi. Qaradawi chairs the Shariah advisory boards of some major international financial firms and is also chairman of the Union of Good, a group of Islamic charities which support Jihadist terrorist organizations. Qaradawi is also infamous for declaring in late 2008 that “Islamic” finance […]
Islamic Finance and Women
The article linked below is so incredibly preposterous that we hardly know where to begin to comment on it. It begins by stating that “Islam honors women…enhancing their standing [in society] and granting them their full unabridged rights.” The authors must be talking about some version of Islam practiced on the planet Venus. Nevertheless, the […]
Thanks to SFW reader “Ramesh” we have been brought up to date on noble efforts in India to turn back the tide against Shariah Finance. First, financial jihad was dealt a blow last week when a High Court in the Indian state of Kerala halted plans to create a state-run “Islamic” bank there. In the […]
Financial jihadists have long held up Dubai as an example of the marriage of modernity and Shariah Islam. Of course, Dubai’s status as a world-class financial center suffered a severe setback when Dubai World defaulted on its Islamic bonds. Nevertheless, just last week, Dubai proudly dubbed its new tallest building, another modern marvel (though there’s […]
Money Talks: Deterring Libel Tourism
The Sauds are mounting a surreptitious campaign to stifle freedom of expression in the United States through “lawfare.” This is why state-level initiatives designed to protect free speech, such as those already passed in New York, California, Florida and Illinois, are so important. For information on how you can get involved in starting a Free […]
Islamists in Kuwait debate loans and interest
We found an interesting article on Kuwait Times this morning. It seems that the Kuwaiti parliament is debating whether or not to “write” off interest on government loans to its citizens. It has been claimed for decades that interest is forbidden in Islam–either charging it or paying it. As a result of that portion of […]
Oxford professor calls for “branding” of Islam
Ample business and market opportunities await Islamic companies in Muslim and non-Muslim countries if they can execute effective branding strategy, according to a branding expert from Oxford University. Dr Paul Temporal, associate fellow at the British university’s business school, said the Islamic values like honesty and cleanliness could provide strong fundamentals for companies to build […]
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