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 […]
posted by Christopher W. Holton A New York jury has ruled that the U.S. government can seize a Manhattan skyscraper worth as much as $1 billion from an Iranian-American charitable foundation accused of violating sanctions against Iran. The U.S. federal court on June 29 ruled that Alavi Foundation, the majority owner of the 36-story office […]
Dana Gas: Shariah Finance’s self-licking ice cream cone
by Christopher W. Holton As we reported earlier this month, the market for Shariah bonds is entering a new crisis as a result of an apparent default by Dana Gas: https://shariahfinancewatch.org/2017/06/15/more-fallout-from-the-dana-gas-sukuk-debacle/ https://shariahfinancewatch.org/2017/06/13/possible-shariah-finance-crisis-brewing-dana-gas-shariah-bonds-declared-unlawful/ Dana Gas is refusing to pay its creditors based on a new decision that its bond offering is no longer Shariah-compliant. This is […]
posted by Christopher W. Holton Income for the Islamic State has dropped by 80-percent over two years. According to a study of its finances, an extended air campaign, and loss of territory, hit the oil and tax revenue streams for the militant group. The self-proclaimed caliphate earned an average of $81 million in the second […]
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 Senior official denies claim by Secretary of State Rex Tillerson that PA has ‘changed its policy’ regarding funding of jailed terrorists. The Palestinian Authority is still providing stipends to terrorists sitting in Israeli jails, despite claims by US officials that the PA was reversing its policy, a senior Israeli official […]
posted by Christopher W. Holton Sheikh Yusuf al-Qaradawi, one of the leading theologians of the Muslim world and one of the pioneers of Shariah finance, who is also considered the spiritual guide of the Muslim Brotherhood, has called for the murder of Christians. Ahmed Adnan, a Saudi journalist, writer and political advisor based in Lebanon […]
posted by Christopher W. Holton Here we see illustrated a real pitfall of Shariah compliant finance. Dana Gas of Abu Dhabi previously issues $700 million worth of Shariah bonds, also known as sukuk. Now, the firm is informing creditors that its sukuk are actually NOT shariah compliant and is proposing that they be traded for […]
by Christopher W. Holton Indonesia’s finance ministry sold 3.03 trillion rupiah ($227.97 million) of Islamic bonds at an auction, below the indicative target of 5 trillion rupiah, its financing and risk management office reports. http://timesofindia.indiatimes.com/business/international-business/indonesia-sells-3-03-trillion-rupiah-of-islamic-bonds-below-target/articleshow/59124027.cms
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/
posted by Christopher W. Holton Another article pointing out that both Qatar and Saudi Arabia are funders of Jihadist terrorism and that Saudi Wahhabism is one of the fountainheads for Jihadist terrorist organizations… http://blogs.economictimes.indiatimes.com/serendipity/qatar-crisis-pot-calling-kettle-black/
by Christopher W. Holton We had to think long and hard about linking to this article. The author maintains that the Muslim Brotherhood should not be designated a terrorist organization, which is totally wrong in our view, especially given the fact that HAMAS is in fact the Muslim Brotherhood in Israel and Palestinian areas. That […]
posted by Christopher W. Holton The isolation of Qatar by other Gulf nations poses a threat to HAMAS due to the fact that Qatar has provided funding for years to the Palestinian jihadist terror organization… http://www.kpax.com/story/35649335/what-the-qatar-crisis-means-for-hamas
posted by Christopher W. Holton Qatar is certainly isolated due to its support for the Islamic State and the Muslim Brotherhood, in addition to its cozy ties with the Ayatollahs in Iran. The economic warfare has begun, with the United Arab Emirates firing the opening salvoes… A move by four Arab states to blacklist dozens […]
posted by Christopher W. Holton Shariah-compliant Finance is a key instrument of Islamic imperialism, as illustrated by the story linked below. Kenya has been targeted for a few years now by the financial jihadists. Only less than 12% of Kenyans are Muslim, yet Kenya has attracted the attention of Shariah financial institutions for several years, […]
posted by Christopher W. Holton The Obama administration “systematically disbanded” law enforcement investigative units across the federal government focused on disrupting Iranian, Syrian, and Venezuelan terrorism financing networks out of concern the work could cause friction with Iranian officials and scuttle the nuclear deal with Iran, according to a former U.S. official who spent decades […]
Financial Pressure Builds on Qatar
posted by Christopher W. Holton Qatar has come under intense pressure from its Sunni Gulf neighbors for its close ties to Iran, support for the Muslim Brotherhood and funding by wealthy Qataris of the Islamic State. Now that pressure is extending outside of the Persian Gulf region… France’s justice minister Francois Bayrou has said France […]
by Christopher Holton First it was the suppression of the 28 pages of the 9/11 report. Now, 16 years after 9/11, the West still has not learned its lesson. The British government reportedly is suppressing a report which shows that Jihad in the U.K. is largely funded by Saudi Arabia. Once again, the treacherous Saudis […]
posted by Christopher Holton Attacking Hezbollah’s Financial Network: Policy Options Hearing 06.08.2017 10:00am 2172 Rayburn Full Committee Chairman Royce on the hearing: “Hezbollah is a top terrorist threat to the U.S. and our allies. And as Iran’s proxy it operates internationally – massacring civilians in Syria, attacking Americans and Israelis, and laundering drugs and cash. […]
posted by Christopher W. Holton There are rumblings that Washington is preparing more wide-ranging sanctions aimed at the Jihadist terrorist organization Hezbollah. These sanctions are well-deserved and overdue. Not only did Hezbollah kill 241 US Marines, sailors and soldiers in Beirut on 23 October 1983, they also participated heavily in the insurgency in Iraq, trained […]
UAE Media Fingers Qataris for Funding Al Qaeda
posted by Christopher W. Holton Al Arabiya is a major news organization out of the United Arab Emirates. It has also become a player in the isolation of Qatar engineered by Saudi Arabia, the UAE and Bahrain. (Qatar deserves the isolation.) Al Arabiya has taken the unusual step of naming wealthy Qataris who it says […]
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