We have learned not to expect much from The Huffington Post. In fact, we make it a point to avoid it on most days. But today “HuffPo” published an article by Annalisa Musarra of the “Religion News Service” and we had to read it. It amounts to a celebration of Muslims NOT assimilating into society as [...]
The report below is cause for concern. Philippine officials have fallen into the trap of dealing with the Islamic Development Bank (IDB) based out of Saudi Arabia. IDB is a gargantuan institution dominated by Saudi Arabia and based out of Jeddah, which is the most important non-holy city in that country, much more important than [...]
Birmingham-based Islamic Bank of Britain has launched a new Sharia-compliant electronic International Money Transfer Service. The service, the first of its kind, operates from the bank’s branch in Coventry Road, Small Heath. The bank said it guaranteed all the funds would be handled and transferred in the proper manner. The transfer service is aimed at [...]
Al-Haqiqah in Arabic, a web site published by the opposition France-based Syrian National Council for Truth, Justice, and Reconciliation, on 9 April publishes a 1,300-word “exclusive” report saying that Al-Faruq Battalion, which is affiliated with the opposition Free Syrian Army (FSA), is imposing Jizyah (an extra tax imposed on non-Muslims living under Muslim rule) on [...]
A delegation of the Muslim Brotherhood recently went on a whirlwind tour of US governmental and private institutions and individuals. One of the organizations that the Ikhwan met with was the US Chamber of Commerce. If you are surprised, you shouldn’t be. The US Chamber of Commerce has a history of appeasement and outreach to [...]
Thai Jihadist Bombers Get Big Payout
On April 10, 2012 · In Jihad, Jihadist Groups/Individuals, Malaysia, Terror, Terror Funding, terrorism, Thailand
H/T Money Jihad blog Back on 31 March, Jihadist terrorists launched a coordinated bomb blitz in southern Thailand in a major escalation of the ongoing Islamic insurgency there: http://terrortrendsbulletin.com/2012/03/31/the-jihad-in-thailand-escalates-sharply/ The Bangkok Post has published a report that indicates that the Thai Jihadists who successfully conduct such attacks head to the Malaysian border for big bonuses. [...]
HSBC continues to be the Western leader in facilitating the financial jihad. We post this as a reminder to Western consumers and investors. When you decide where to bank or where to get credit cards, keep in mind what HSBC is up to… http://www.tradearabia.com/news/BANK_215598.html
Evidently there aren’t enough high quality sukuk to go around…
On April 10, 2012 · In Indonesia, Islamic Bonds, Islamic Finance, Malaysia, Shariah Bonds, Shariah Finance, SUKUK
Malaysian and Indonesian pension funds, which have a combined $192 billion of assets, say plans to increase holdings of Islamic bonds are being hampered by a shortage of investment-grade sukuk. Yesterday we pointed out that Yemen had floated a sukuk with a projected 1-year return of between 15% and 18%, a sure sign of risk-a [...]
Zakat goes to all sorts of purposes. One of them is to get poor, destitute non-Muslims to convert to Islam, as explained in the post linked below on Money Jihad blog. The gist of this is that when a Western financial institution facilitates Shariah Finance it is subsidizing the promotion of Islam and Shariah. That [...]
Maybank Islamic Bhd of Malaysia has unveiled Maybank Islamic Ikhwan Visa Infinite, a credit card designed for affluent Muslims. This certainly raises some eyebrows in the West since “Ikhwan” (Arabic for “brothers”) is the word used as the popular name for the Muslim Brotherhood, the political wing of the global Islamic insurgency and the organization [...]
In the midst of a vicious insurgency with Al Qaeda in which some members of the Yemeni government are thought to be siding with the Jihadists, the Yemeni central bank has floated its first sukuk… Note that this one-year sukuk is projected to have a return of between 15% and 18%. Such a return is [...]
Imams yesterday expressed their concern over the poor knowledge the Muslim community in the country has for zakat (tithe) and reminded Muslims of their Islamic obligation by paying the zakat harta once they meet the requirements. It is clear that the knowledge of the muslim community about the zakat laws is still relatively low, said [...]
Saudi Arabia has overtaken the UAE to become the largest Sukuk (Islamic bond) issuer in the Gulf region, raising $6.4 billion in Q1 2012, compared to issuance of $1.9 billion by the UAE. Malaysia accounted for 71 per cent of total issuance and was the top Sukuk issuer with $31 billion followed by Saudi Arabia [...]
Iran’s President Mahmoud Ahmadinejad said on Saturday the country’s sovereign wealth fund could reach $55 billion by March next year if oil prices kept high. Iran earned $100 billion in oil revenue in 2011. Iran is both the world leader in Shariah Compliant Finance and the world’s most active state sponsor of Jihadist terrorism. http://www.ynetnews.com/articles/0,7340,L-4213542,00.html [...]
Judson Phillips over on Tea Party Nation has an important story up today. A U.S. court found Iran responsible for the 1983 Beirut Marine Barracks bombing that killed 241 Marines, soldiers and sailors. Iranian assets are frozen in the U.S. and the surviving families of those U.S. servicemen deserve to be compensated using those assets. [...]
Two Somali twin brothers have been arrested in Great Britain and charged with trying to raise money for their third brother to commit acts of terrorism in their homeland of Somalia. Note that one of the twins works for a “security” firm. The other is unemployed, no doubt living off the public dole, as so [...]
The US has offered a $10 million reward for the capture of Pakistani Jihadist Hafiz Muhammad Saeed. Saeed is associated with the terrorist group Lashkar e Taiba, the organization that carried out the horrific Mumbai terrorist attacks in India back in 2008. Long-time readers may recall that donations to Islamic charities in Pakistan in the [...]
We suppose that when you live under an atheist, communist system, it makes no difference to you whether the food is halal or haram. Add in a dash of capitalism and presto! You get a foothold for Shariah-compliance in a city-state with virtually no Muslim population. Such is the nature of the petrodollar driven Islamic [...]
The Taliban and Al Qaeda are said to have turned to smuggling cigarettes and cigars to raise money according to a recent report the the International Tax and Investment Center (ITIC). The report blamed higher taxes for making a market in bootleg tobacco products. This activity should certainly come as no surprise. Hezbollah has been involved [...]
Here we have two important links that touch on themes that we have covered extensively over the years: Zakat, Jihad and Shariah-Compliant Finance. The first article from the excellent Gates of Vienna blog, points out that one of the destinations of zakat (tithing in Islam) is “those fighting in the way of allah…” http://gatesofvienna.blogspot.com/2012/04/on-zakat-and-jihad.html The [...]
With Egypt’s politics now dominated by Islamists, the country’s financial market have developed a love for Shariah-compliant products. “…with Islamists rising to power, banks will strictly abide by Shariah…” http://weekly.ahram.org.eg/2012/1092/ec1.htm
Australia is on the road towards establishing a local Islamic bond market although the country’s first sukuk (Islamic bond) issuance may be several months away… National Australia Bank is in talks with regulators on a potential debut Sharia-compliant bond offering as the issuer seeks to marry local regulations with such deals’ Islamic requirements. Any sukuk must [...]
It is no secret that the Jihadists seek to target the West’s economy and financial markets. Clearly, that was a main target on September 11th, 2001. Currently, there is a terrorism trial in Germany ongoing in which details have been revealed about Al Qaeda’s efforts to target Europe’s economy and financial system. The Jerusalem Post [...]
The article linked below is pro-Shariah Finance, but it brings up a good point. It doesn’t get to that point until the second half of the article, but it does eventually get to an interesting point. The article points out that the Shariah Finance industry is overly dependent on a few Shariah scholars, which is [...]
Few statements are more revealing than the statement that Americans take liberty too seriously from this forum on “Islam and Universal Healthcare.” It seems that according to the Islamists, Islam has the answer for universal healthcare: zakat, the form of tithing in Islam that includes support for those waging violent Jihad… http://www.gaiaonline.com/forum/extended-discussion/islam-and-universal-healthcare-zakat-and-what-we-can-learn/t.78869687/
This comes as no surprise. Al Qaeda and Hezbollah have been involved in the global drug trade for quite some time. This media report contains details of their activities in West Africa and their cooperation with South American drug cartels… http://www.upi.com/Top_News/Special/2012/04/02/West-Africa-fears-of-drug-terrorism-links/UPI-48031333383482/
A division of the Muslim Association of Canada which has provided funding to an entity that collects funds for HAMAS is essentially in charge of Halal certification in Canada. To declare something “halal” is to declare it permissible under Shariah. HAMAS is an official terrorist organization according to the US State Department. http://pointdebasculecanada.ca/articles/10002592-muslim-association-of-canada-a-contributor-to-hamas-fund-collector-controls-halal-certification-in-quebec.html
The Yassine family of Austin, Texas is apparently quite the enterprising group. Led by Hussein “Mike” Yassine, the Yassines were quite diversified. They own 8 bars. According to law enforcement authorities they are also a one-family crime wave. They are involved in murder, money laundering, drug dealing–and they have a brother back in Lebanon who [...]
From the U.S.-Saudi Arabian Business Council… U.S. international law firm Baker & McKenzie has acted for Almarai Company on the establishment of a $613.3 million (SR2.3 billion) sukuk (Islamic bond) program and inaugural issuance of a $266.7 million (SR1 billion) sukuk. The debut Sukuk issuance for Almarai Company, the largest Saudi dairy products company, was [...]
A firm called Ethical Asset Management in the UK is launching a Sukuk fund for individual investors. This is fairly unremarkable, but the designation “ethical” is worth commenting on. Ethical is a subjective term. To most Westerners, there is little or nothing ethical about Shariah. On the contrary, many of the tenets of Shariah are [...]
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