CAIR Shills for Al Shabaab Terror Financiers
On May 20, 2013 · In Al Shabaab, CAIR, Jihad, Jihadist Groups/Individuals, Somalia, Terror Funding, Zakat
The Council on American Islamic Relations, which was named as an unindicted co-conspirator in the largest terrorism financing prosecution in US history, is now rushing to the defense of two women convicted on material support for terrorism charges. SFW has previously covered this case, in which two Minnesota women, Amina Farah Ali and Hawo Mohamed Hassan, [...]
Muslim Brotherhood-dominated Egypt took one more step toward Islamization recently with the approval of a new law paving the way for the country to issue sukuk (Shariah-compliant bonds)… Egyptian president Mohamed Morsi has approved a law allowing the country to issue Islamic bonds the government hopes will help revive its flagging finances, Reuters has reported. [...]
Islamic Bank of Britain Promotes Zakat
On May 19, 2013 · In Britain, Islamic Banking, Islamic Finance, Jihad, Shariah Banking, Shariah Finance, Terror Funding, United Kingdom, Zakat
One of the most troubling and controversial aspects of Shariah-Compliant Finance is the system of zakat that plays a key role for Shariah-compliance. Zakat is a system of tithing in Islam, except that it goes way beyond what Westerners think of as “tithing” or “alms giving.” While some in the Shariah Finance industry deny that [...]
An Uzbekistan national pleaded not guilty and said little during his first court appearance Friday on U.S. charges that he gave support, cash and other resources to help a recognized terrorist group in his home country plan a terrorist attack there. Fazliddin Kurbanov, 30, was arrested Thursday. Prosecutors have said little about the details of [...]
New York law enforcement authorities have arrested 15 Palestinian Muslims in a bootleg cigarette scheme that appears to have been primed to send money to Jihadist organizations overseas. This harkens back to the bootleg cigarette scheme taken down in North Carolina in 1998, which was the subject of the excellent book, “Lightning Out of Lebanon.” [...]
In a sure signal of the direction that the Muslim Brotherhood seeks to take Egypt, a Shariah Finance specialist has been appointed as the country’s Finance Minister… The new Finance Minister, Fayyad Abdel Moneim, a relative unknown with a PhD in economics from Al Azhar University, is Egypt’s 5th finance minister since the revolution. He [...]
As we have reported previously on SFW, Egypt has been contemplating issuing Islamic bonds, known as sukuk,” to raise money for the country’s bleak fiscal picture. The Muslim Brotherhood wants to float Islamic bonds, not only for fiscal reasons, but also because they see it as a means of furthering the Islamization of the country. [...]
The United Nations is at it again. All too often the UN puts offending nations in charge of problems that the international community is supposed to be trying to solve. The latest example involves the United Nations conference on combating terror finance being held in Sudan, one of the world’s leading sponsors of Jihadist terrorism. [...]
For the past 2 years or so, we have noted that Islamic bonds, properly known as “sukuk,” have become the financial weapon of choice for Islamic imperialism. 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 [...]
Despite the combined efforts of Islamist regimes in the Islamic world and the appeasing government in the United Kingdom, Shariah-Compliant Finance has yet to take off in Britain. In fact, it’s struggling and financial firms are abandoning it. One reason is that the weapon of choice in Shariah-Compliant Finance, sukuk, also known as Islamic bonds [...]
Outgoing Iranian President Mahmoud Ahmadinejad was swarmed by a group of citizens protesting the loss of their savings in the Tabriz Nasr Secured Loans Fund. Local websites report that the crowd stopped the president’s vehicle and chanted slogans, demanding government intervention in their situation. The report indicates that one of the protesters was briefly “entangled” [...]
As regular readers of SFW know, Sukuk, also known as “Islamic bonds,” or “Shariah bonds,” are fast becoming the weapon of choice for pushing out Shariah-Compliant Finance to the rest of the world. The market for sukuk is growing rapidly, especially in the sovereign debt sector. By the end of 2013, it is expected that [...]
Lawfare to Attack Terrorism Financiers
On April 22, 2013 · In Islamic Banking, Jihad, Jihadist Groups/Individuals, lawfare, Shariah Banking, Terror, Terror Funding, terrorism
Many SFW readers are very aware that the Jihadists effectively use “lawfare” to suppress free speech in the West and to try to prevent any scrutiny of Islamic doctrine. Some of that lawfare has been directed against those who point out those who finance Jihad. The most notable example was the libel tourism lawsuit against [...]
In the wake of last week’s horrific Jihadist terrorist attack in Boston, we have seen very little discussion as to the possible financial aspects of the Tsarnaev brothers’ Jihad. By all accounts, the Tsarnaevs were far from destitute. Yet there is no indication anywhere that they had jobs. They evidently had credit cards, so their transactions can [...]
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), which lists the Jihadist Shariah scholar Mufti Taqi Usmani as the chair of its Shariah Advisory Board, will hold its annual conference in Bahrain this year… http://www.ameinfo.com/kfh-bahrain-sponsors-aaoifi-annual-sharia-conference-337986
For some time London officials and UK finance community executives have expressed the intention of making London the capital of Shariah-compliant finance in the West. Now they are taking their aims to a whole new level as they contemplate pushing for the United Kingdom to issue sovereign debt in the form of Shariah-compliant bonds, known [...]
Islamic Charities Revealed: Bankrollers of Terror
On March 16, 2013 · In Al Qaeda, Al-Haramain Islamic Foundation (AHIF), Ansar al-Sharia Tunisia (AST), Hamas, Islamic charities, Jemaah Islamiyah, Jihad, Jihadist Groups/Individuals, Kuwait, Lashkar e Taiba, Qatar, Qatar Charitable Society, Qatar Charity, Qatar Islamic Society, Revival of Islamic Heritage Society (RIHS), Saudi Arabia, Syria, Syrian Islamic Front (SIF), Terror Funding, Tunisia, Turkey, Turkish Humanitarian Relief Foundation (IHH), Zakat
Foreign Policy magazine recently published an excellent article on the role of Islamic charities in funding Jihadist terrorism, something we’ve been writing about here on SFW for several years now. Authors Daveed Gartenstein-Ross and Aaron Y. Zelin detail in the article how Islamic NGOs (Non-Governmental Organizations) are bankrolling terrorist organizations under the guise of “aid.” [...]
Regular readers of SFW may recall this case of the Imam of a mosque in Florida, who was accused of sending $50,000 to the Taliban. We have posted on the case a couple of times since it opened almost 2 years ago: http://www.shariahfinancewatch.org/blog/2011/05/16/two-florida-imams-four-other-american-muslims-arrested-for-financing-the-taliban/ http://www.shariahfinancewatch.org/blog/2013/01/12/florida-prosecutors-submit-wiretaps-bank-records-in-terrorism-trial-of-imams/ We finally are approaching closure in this case, with the conviction [...]
Paul Aster has an excellent report over on the Investigative Project’s web site about a federal judge’s decision last week clearing the way for French banking giant Credit Lyonnais to face a civil trial for allowing funds to reach the Jihadist terrorist group HAMAS through an Islamic charity: Judge Clears Path for Trial Against French [...]
PORTLAND, OR—Reaz Qadir Khan, 48, a naturalized U.S. citizen residing in Portland, has been arrested on charges of conspiracy to provide material support to terrorists for the assistance he allegedly provided to an individual who participated in a May 27, 2009 suicide bomb attack at the headquarters of Pakistan’s intelligence service in Lahore, Pakistan, that [...]
The Latest Fallout from Europe’s Ransom Payments to Al Qaeda
On March 5, 2013 · In Al Qaeda, Jihad, Jihadist Groups/Individuals, Ransoms, Terror, Terror Funding, terrorism, Yemen
Readers may recall the post we published on 10 February regarding the millions of dollars reportedly paid to Al Qaeda by European nations in the form of ransoms to win the release of hostages: http://www.shariahfinancewatch.org/blog/2013/02/10/former-us-diplomat-europeans-canada-paid-89-million-ransom-to-al-qaeda/ Now we have the latest tragic example of the fallout from those misguided policies. Al Qaeda has released a video [...]
Last week marked the 20th anniversary of the first bombing of the World Trade Center by Jihadists terrorists. Though that attack was not successful in its objective of bringing the towers down, it killed 6 innocent civilians and wounded 1,000 more. As we have often said on SFW, money is the fuel for Jihad. Terrorism [...]
We almost have closure on a story we’ve been following for some time, the federal trial in San Diego of four Somalis who were working to provide funding and other forms of support to the Jihadist terrorist organization Al Shabaab back in their home country of Somalia. Significantly, one of the defendants found guilty is [...]
Throughout the world, the terms “sukuk,” “Islamic bond,” and “Shariah-Compliant Bond” are used interchangeably to describe a derivative security created by the Shariah Finance industry to expand Islamic participation in the credit markets. But in Egypt, which is now ruled by the Muslim Brotherhood, the parliament is playing word games in its quest for a [...]
The San Diego trial of four Somali immigrants charged with raising money and providing help to the terrorist group al-Shabaab largely boils down to who jurors believe is on the other end of numerous phone calls the government secretly taped five years ago. The three-week trial before U.S. District Judge Jeffrey Miller wrapped up Tuesday [...]
Israeli Official: Hezbollah Heavily Funded From Europe
On February 20, 2013 · In Europe, European Union, Hezbollah, Islamic charities, Israel, Jihad, Jihadist Groups/Individuals, Terror Funding
Israel’s Civil Defense Minister, Avi Dichter, told the Jerusalem Post that Hezbollah receives major funding out of Europe, including through Islamic charities, and emphasized that it is necessary for the European Union to designate Hezbollah a terrorist organization to curtail that funding: A decision by the European Union to blacklist Hezbollah would interrupt the group’s [...]
An elderly Muslim cleric on trial for allegedly funneling tens of thousands of dollars to the Pakistani Taliban terrorist organization vehemently denied Tuesday any connection to Islamic extremists and insisted he does not harbor anti-U.S. views. Today, he will, again, head to court. Taking the witness stand in his own defense, 77-year-old Hafiz Khan rejected [...]
New York Times: How Europe Bankrolls Terror
On February 18, 2013 · In Al Qaeda, Europe, Jihad, Jihadist Groups/Individuals, Terror, Terror Funding, terrorism
As SFW reported a week ago, European governments have been bankrolling Al Qaeda and its affiliates by paying ransoms when their citizens have been taken hostage: http://www.shariahfinancewatch.org/blog/2013/02/10/former-us-diplomat-europeans-canada-paid-89-million-ransom-to-al-qaeda/ The New York Times provides a few new details…and the numbers involved appear to be growing…we reported $89 million a week ago and the Times is now reporting [...]
Sovereign Sukuk to Push Shariah Bond Market
On February 17, 2013 · In Islamic Bonds, Islamic Finance, Kuwait, Shariah Bonds, Shariah Finance, Sovereign Wealth Funds, SUKUK
The Sukuk (Islamic bond) market is expected to grow by 30 percent in 2013, led by sovereign sukuk that will continue to dominate, due largely to new countries that will issue sukuk, according to a report from Kuwait Finance House (KFH). Sovereign issuers led the market share in 2012 despite a record amount of corporate [...]
The article linked below from Bloomberg is about Alwaleed’s decision to sell off his jumbo jet, but the bigger story embedded here is his decision to refocus his fortune back home in Saudi Arabia and the Middle East, which almost certainly means Shariah-compliance… Prince Alwaleed Bin Talal Al Saud, the world’s 15th-richest person, sold his [...]
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