Over the past few years, Shariah-compliant, Islamic bonds, properly known as “sukuk,” have become the financial foil of choice by which Shariah has been infiltrated via the global financial system.

Here is how that works:

• As we know from historical records and contemporary statements from Islamic leaders, the purpose of Shariah Finance/Islamic economics is to promote Shariah itself.

• Islamic imperialists are now using the credit markets to force Shariah-compliance worldwide, not just among and between Muslims.

• Sukuk impose Shariah-compliance two ways:

1. Islamic issuers increasingly issue Sukuk rather than conventional debt instruments. Therefore, creditors who want to invest in the credit markets are compelled to invest their money in a Shariah-compliant way.

2. On the flipside, Islamic investors who invest in the credit markets are increasingly insisting on Shariah-compliance, thus compelling issuers/borrowers to issue Sukuk instead of conventional credit instruments, such as debentures. This is happening in the sovereign debt markets, as well as the corporate debt markets. The power wielded by oil-rich Islamic nations, institutional and individual investors makes this form of Islamic imperialism to impose Shariah-compliance globally potentially very powerful.

Still many Western observers don’t know what Sukuk are.

But institutions like HSBC are quite familiar with sukuk. Their global head of Sukuk Financing has just published an article on the continued emergence of sukuk…

http://www.gulf-times.com/eco.-bus.%20news/256/details/383414/seeking-sukuk-success

 

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