South Korea, a nation with few Muslims, will issue sukuk, better known as Islamic bonds, next year.
This is yet another example of Islamic imperialism manifesting itself in non-Islamic nations’ financial systems. Basically what has happened here is that someone has promised South Korea that if they just agree to issue bonds which comply with Shariah Law, they’ll attract lots of money.
It should be pointed out that South Korea has had a thriving economy for generations and has done a great deal of business in the Arab world and the rest of the Islamic world, including, most unfortunately, the Islamic Republic of Iran. Only recently have South Korea’s business partners insisted on Shariah compliance. This is of course no accident and the practice is spreading around the world.
The non-Islamic world is compelled to play by the Shariah rulebook in its relations with the Islamist world.
No wonder Islamic leaders refer to Shariah finance as “missionary work.”