Osama Bin Laden played host to Taliban leaders and wealthy supporters while he was living in his Abbottabad compound in Pakistan. An Afghan leader of the Taliban said he had visited Bin Laden in the Abbottabad compound. He said other members of Al Qaeda met with Bin Laden too, as did Taliban allies and Arab […]
Al Qaeda called a ‘money making machine’ by British official–that’s not even HALF the story
The article below from The Telegraph in Great Britain quotes a British Foreign Office director as describing Al Qaeda as a “money making machine,” due to Al Qaeda in the Islamic Maghreb’s practice of ransoming hostages for money. Evidently, Italy, Spain, Austria and Switzerland have all paid such ransoms to the Jihadist terrorist organization. This […]
Great work by Money Jihad blog on the Zakat-Terror Finding Nexus
Over the past week, Money Jihad has posted some excellent work on the use of zakat funds for Jihad. These postings are not to be missed… 1. British Muslims are the Taliban’s Greatest Source of Revenue http://moneyjihad.wordpress.com/2010/10/22/british-muslims-are-taliban’s-“greatest-source-of-revenue”/ 2. Osama Bin Laden calls for a new mega-Islamist charity http://moneyjihad.wordpress.com/2010/10/24/just-what-the-world-needs/ 3. Zakat money flows uninterrupted to Jihadist […]
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
A Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica and Forbes.com
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to replace capitalism and our free enterprise system: http://www.forbes.com/2009/12/10/islamic-finance-after-dubai-business-oxford-analytica-islamic-finance.html?feed=rss_business In fact, the article reads less like journalism and more like a press release from […]
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 […]
The Middle East North Africa Financial Network has just published a report on Shariah-Compliant Finance. The report (linked below) starts out with a promising title–“Shariah Compliant or Complaint”–but soon resorts to the same misinformation about the performance of Shariah-Compliant assets and vehicles for which the industry is now infamous. http://www.menafn.com/qn_news_story_s.asp?StoryId=1093254534 The MENAFN report glosses over […]
The NEFA Foundation has obtained a transcript of an audio message from Sheikh Mustafa Abu al-Yazid (a.k.a. “Sheikh Saeed”). In May 2007, Al-Qaeda’s official As-Sahab Media Wing identified al-Yazid as “the overall head of al-Qaeda Organization in Afghanistan.” According to As-Sahab, al-Yazid “took part in founding al-Qaeda in 1989, and is a member of the […]
Islamic charities continue to fund the Taliban
Regular readers of SFW know that we have devoted a considerable amount of space to covering financial support from Muslim charities for Jihadist organizations: https://shariahfinancewatch.org/category/islamic-charities/ This is of particular relevance to Shariah-Compliant Finance because of the practice of zakat–a form of required tithing in Islam. Shariah-compliant firms donate 1/40, or 2.5%, of their assets through […]
Literally making a deal with the devil… http://www.mcclatchydc.com/front/story/67289.html
UK: Small finance houses lack controls to keep out clients on terror list
Here is an article from The Times which absolutely illustrates the folly of Shariah-Compliant Finance! The British Financial Services Authority (FSA) maintains a list of some 1,400 people and 500 entities linked to terrorist organizations and sanctioned nations, such as Iran. To help prevent funds from getting to terrorists and their sponsors, providing banking or other […]
Periodically, SFW shines the light on the non-financial aspects of shariah, since the purpose of shariah-compliant finance in the first place is to promote shariah. Today we have two stories about human rights abuses under shariah authorities. The first comes to us from Taliban-controlled Afghanistan, where a couple was sentenced to death for eloping… http://news.bbc.co.uk/2/hi/south_asia/7997749.stm […]
The Washington Times weighs in on Shariah-Compliant Finance
The Washington Times has a good piece on Shariah-Compliant Finance this morning, authored by Simon Roughneen. Roughneen did a good job of covering the issues involved, though I wish he had mentioned the system of zakat by name, because that is one of the aspects that makes Shariah-Compliant Finance so worrisome. When slimey enemies of […]
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
Regular readers of SFW know that one of the chief concerns about Shariah-Compliant Finance is the system of tithing known as “zakat.” Shariah-Compliant banks provide a means by which Muslims can tithe their investment earnings and, in the case of one bank in the UAE, Sharjah Islamic Bank, they are using technology to enable customers to […]
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
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 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 […]
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