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 […]
Seattle Mayor Edward B. Murray has introduced a plan to provide affordable housing in a city that is home to much of the high-tech industry’s wealthiest individuals and businesses. Overshadowing the irony of this scheme is this part of the plan: Support the Community in Finding Housing Tools for Sharia-Compliant Lending: For our low – and […]
Kuwait Finance House Continues Spread of Shariah Finance in Turkey
On December 30, 2014 · In Islamic Banking, Kuwait, murabaha, Shariah Banking, Shariah Mortgage, Turkey
Kuwait Finance House (KFH) continues to facilitate the spread of Shariah finance in Turkey. They just inked a new $350 million banking and mortgage deal through their Turkish affiliate. Turkey continues to drift toward Islamization and away from the rest of NATO… http://ameinfo.com/blog/finance-and-economy/kfh-announces-successful-conclusion-350m-syndicated-club-murabaha-facility-kfh-turkey/
The article linked below contains a brief explanation of Shariah-Compliant mortgages here in the US… Shari’ah compliant mortgage financing has been available in the United States for over a decade. Research into how these mortgages are structured reveals the details behind this Islamic finance program and how it differs from the standard FNMA mortgage loan […]
Note that this mechanism is essentially a convoluted construct to replicate interest payments, without calling them interest payments… The Islamic Bank of Britain has reported a 63% rise in take-up of its home financing products for the first three quarters of 2012. The growth in demand for the Sharia-compliant bank’s alternative to mortgages was fuelled […]
Does Your Financial Institution Participate in Shariah Compliant Finance?
On June 26, 2012 · In AAOIFI, AIG, Amana Funds, Arcapita, Bank of New York-Mellons, Barclays, Bloomberg, BNP Paribas, Citigroup, Clearstream Banking SA, Companies, Credit Suisse, Creeping Shariah, Deloitte Touche Tohmatsu, Deutsche Bank, Dhimmitude, DIC, DIFC, DIFX, Dow Jones, Dow Jones Islamic Market, Financial Institution, fiqh council of north america, Fitch, GE Capital, Goldman Sachs, Guidance Financial, HARVARD, HSBC, IFSB, IIFM, IIIT, Islamic Banking, Islamic Finance, ISRA, KPMG, Merrill Lynch, Moody's, Moody's Investor Service, NASDAQ, NatWest Bank, Sharia Compliant, Shariah Banking, Shariah Finance, Shariah insurance, Shariah Mortgage, Standard & Poor's, Standard Chartered, Thomson Reuters, UBS, UBS Bank, University Islamic Bank
The most common requests we receive here at SFW are questions as to whether banks or brokerage houses “are Shariah-compliant?” As a result of these numerous inquiries, for the past several weeks, we have carefully compiled a list of financial institutions active in the USA that have some form of tie to Shariah Compliant Finance. […]
Shariah Finance Watch editor briefs Congressional staffers on Shariah-Compliant Finance
On June 8, 2012 · In "Ethical Investment", AIG, Al Qaeda, Amana Funds, Center for Security Policy, Creeping Shariah, Da'Wah, Dow Jones, Dow Jones Islamic Market, Elena Kagan, Hamas, HARVARD, Hezbollah, Hizb ut-Tahrir, Holy Land Foundation, HSBC, Interest, Investors Business Daily, Iran, Islam, Islamic Banking, Islamic charities, Islamic Economics, Islamic Finance, Islamic Law, Islamization, Jihad, Jihadist Groups/Individuals, Malaysia, Money Laundering, murabaha, MURAHABA, Muslim Brotherhood, Obama, OIC, purification, Qaradawi, Qatar, Regulation, Saudi Arabia, Sharia Compliant, Shariah Banking, Shariah Finance, Shariah in Academia, Shariah insurance, Shariah Law, Shariah Mortgage, Sovereign Wealth Funds, Sudan, Takaful, Taliban, Terror, Terror Funding, terrorism, The Banker, U.S. Policymakers, UAE, United Kingdom, USA, Usmani, Usury, VIDEOS, Wahhabism, Zakat
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
Just in time for the victory by socialists, facilitated at least partially by Islamist backing, Shariah-Compliant Finance has entered the real estate market in France… La Française AM has launched the first Sharia compliant OPCI – collective real estate vehicles with simplified investment rules with leverage – into the French market as part of the […]
Money Jihad Blog: Why Minneapolis’s shariah loans must end
On February 24, 2012 · In Creeping Shariah, Islamization, Minnesota, murabaha, MURAHABA, Sharia Compliant, Shariah Mortgage
This is an excellent piece from an excellent blog that all SFW readers should be visiting on a regular basis. This particular entry is especially important as several folks we have spoken with view the Minneapolis program as “no big deal.” It is a big deal and the good folks at Money Jihad blog do […]
Money Jihad blog has posted two important articles over the past week regarding the Shariah-compliant alternative to conventional financing known as murabaha. One thing to remember about murabaha is that, almost invariably, these arrangements cost the borrower more than conventional financing would. Money Jihad compares murabaha to “rent-to-own” deals in the US. We think the comparison is […]
Minnesota Governor Tim Pawlenty, who recently launched a presidential exploration committee, was personally responsible for shutting down Minnesota’s Shariah-compliant mortgage program last year. Bravo, Governor Pawlenty. He has demonstrated great courage and appreciation for the US constitution that governors in states like South Dakota, Michigan and New Jersey would do well to emulate. It turns […]
In the video at the link below, Guy David, partner, Gowling Lafleur Henderson, explains the potential for Shariah finance in Canada, including its application to residential mortgages and the capital markets. David admits that there is essentially no inherent demand for Shariah-compliant products in Canada; the market is not demand-driven, it is supply-driven. Muslims in […]
Periodically, we conduct web search engine queries to test how our site appears. Yesterday, we Googled “Shariah Finance Watch” and an advertisement appeared to the right of the results. The advertisement was entitled, “INTEREST FREE HOME FINANCING.” That really caught our eye because Shariah-Compliant Banks around the world often promote their Shariah-Compliant mortgages as “Interest-free.” […]
From the truth is stranger than fiction file comes the report from the UK Daily Mail that Britain’s NatWest Bank wrote Krenar Lusha a mortgage, complete with no downpayment. There were a few problems with this transaction: 1. Lusha was in the UK illegally. NatWest failed to perform the required background checks on him. (This […]
BBC: Islamic Finance is a Dishonest Business Run by Dishonest People
On December 16, 2009 · In "Ethical Investment", AAOIFI, Britain, Creeping Shariah, Defaults, Dubai, HSBC, Investment Scams, Investment Swindles, Islamic Banking, Islamic Bonds, Islamic Finance, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Bonds, Shariah Councils, Shariah Finance, Shariah Mortgage, Uncategorized, United Kingdom, Usmani
The BBC has published an article by Mr. John Foster, who used to be editor of “Islamic Business & Finance” magazine. The topic of the article is described by its title: “How Sharia-Compliant is Islamic Banking?” But it is not really the topic which makes the article interesting. It is the details which make it […]
Shariah Finance industry holds award dinner
On November 3, 2009 · In Bahrain, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Equity Funds, Islamic Finance, Islamic Index, Kuala Lumpur, Malaysia, murabaha, MURAHABA, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Bonds, Shariah Finance, Shariah insurance, Shariah Mortgage, SUKUK, Takaful
Though it is not the main theme of the article linked below, a major awards dinner was held in Kuala Lumpur, Malaysia on Tuesday night and we thought the listing of recipients was interesting in that it provides insight into the major players working to promote Shariah through its financial arm. It is always also […]
Spreading Shariah to Non-Muslims
On June 29, 2009 · In Creeping Shariah, Dubai, Islamic Banking, Islamic Finance, Italy, murabaha, MURAHABA, Sharia Compliant, Shariah Banking, Shariah Mortgage
Gulf News has published an article about an Italian Buddhist living in Dubai who has taken out a Shariah-Compliant mortgage. The article claims that he did so because he believed that a mortgage based in religion would be “safer.” This is a common theme. Promoters of Shariah-Compliant Finance have been saying all along that they […]
Throughout the financial crisis, promoters of Shariah-Compliant Finance insisted that their products were superior because they did not allow the securitization of debt, such as happened with subprime mortgages. What a difference a few months makes. Now that Shariah finance has been shown to be vulnerable to the economic downturn just like everyone else and […]
This week, CNN and Money magazine ran an article focusing on the role of faith in the personal finances of certain families. In the article which they published which deals with a Muslim family, we have discovered a whole slew of questions with regard to matters outside of personal finance which, not surprisingly, the lapdogs […]
Shariah-Compliant Finance as a Safe Haven: Myth and Reality
On April 23, 2009 · In "Ethical Investment", Bahrain, Creeping Shariah, Dow Jones Islamic Market, Economic Crisis, Financial Institution, Investments, Iran, Islam, Islamic Banking, Islamic Economics, Islamic Equity Funds, Islamic Finance, Islamic Index, Markets and Trends, murabaha, MURAHABA, Pakistan, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Finance, Shariah insurance, Shariah Mortgage, Uncategorized
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 […]
According to the shariah authorities who control the world of shariah-compliant finance, Muslims are not allowed to impose or pay interest in financial transactions. (There is actually a little controversy about this. Some claim that usury is banned in Islam, but not all interest. However, as long as the Islamists control the Islamic world, that […]
Bailout Fallout: Uncle Sam’s Shariah Board
On March 26, 2009 · In AIG, Islamic Finance, Islamic Law, Shariah Boards, Shariah Finance, Shariah insurance, Shariah Mortgage
At your service, American Taxpayer! AIG’s Shariah Advisory Board. As members of the AIG Takaful Shariah Advisory Board, they really work for you and me, the American taxpayer, ever since we the people bought an 80 percent stake in the bankrupt insurance company. How’s that for bait and switch? While we agonize over chump-change AIG bonuses, we ignore the […]
On 2 March, we reported here via Jihad Watch that the state of Minnesota was facilitating Shariah Mortgages: https://shariahfinancewatch.org/2009/03/02/minnesota-taxpayers-facilitating-shariah-compliant-mortgages/ The Associated Press has distributed a fluff piece on this program today: http://bismarcktribune.com/articles/2009/03/08/news/state/178713.txt This additional article gives us an opportunity to provide an explanation of how Shariah-Compliant loans work and how they get around the whole […]
Christopher Logan over at Islam in Action blog has posted a follow up to his interview of the president of University Bank in Ann Arbor, Michigan. Like part 1, it makes for interesting reading…we very much look forward to part 3… http://islaminaction08.blogspot.com/2009/03/exclusive-q-with-president-of-michigan_07.html
Christopher Logan of Islam in Action blog had an interesting exchange with Stephen Lange Ranzini, president of the infamous University Bank in Michigan, a Shariah-Compliant institution. Logan wrote to Ranzini and expressed his offense at University Bank promoting the barbaric doctrine called Shariah here in the land of the free and the home of the brave. […]
Jihad Watch provided us with a heads up about the state of Minnesota not just endorsing, but facilitating Shariah-Compliant mortgages. Some readers may be wondering if there is any harm in a Muslim having a mortgage that is Shariah-Compliant. There are two answers: 1. We must always remember that the basic purpose of Shariah Finance […]
Shariah-Compliant Finance spreads its tentacles across borders and faiths
On February 26, 2009 · In Britain, Debt Bonds, Europe, Financial Institution, Islamic Banking, Islamic Bonds, Islamic Finance, Sharia Products, Shariah Banking, Shariah Bonds, Shariah Finance, Shariah Mortgage, SUKUK, United Kingdom
We at SFW have said all along that promoters of Shariah-Compliant Finance are ultimately looking to infiltrate our society and culture. Shariah finance is a first step in that process, especially using Shariah rules to govern transactions with non-Muslim entities. Over time, these types of transactions become accepted. Then they become the norm. It is […]
Unfortunately we overlooked an excellent article two weeks ago. Alyssa Lappen is one of the most knowledgeable writers on Shariah and Shariah-Compliant Finance. She wrote an article for FrontPageMag.com. In this article she points out that some sukuk–or Islamic Bonds–are in fact structured in such as way that they simply cannot be classified as anything […]
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 […]
FINALLY…a critical article about Shariah-Compliant Finance…
On January 6, 2009 · In "Ethical Investment", Fatwa, HSBC, Investments, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Equity Funds, Islamic Finance, Islamic Law, Markets and Trends, Pakistan, Saudi Arabia, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Bonds, Shariah Councils, Shariah Finance, Shariah Law, Shariah Mortgage, SUKUK, Uncategorized, USA
…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 […]
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