In a blatant example of taqiyya (sacred deception permissible under Shariah law), Jamaat-ud-Dawa, the Islamic charity that bankrolls Lashkar-e-Taiba in general and the Mumbai terrorist attacks in particular, is attempting to disavow any connection to the terrorist organization. This ploy comes on the heels of the US Treasury Department dsignating 8 Lashkar-e-Taiba members as terrorists. [...]
US Imposes Sanctions on Eight Lashkar e Taiba leaders
On August 31, 2012 · In India, Jihad, Jihadist Groups/Individuals, Lashkar e Taiba, Sanctions, Terror, Terror Funding, terrorism
The US Treasury Department has designated eight leaders of the Lashkar-e-Taiba (LeT) as terrorists and placed sanctions on them, holding them accountable for the Mumbai attacks in 2008, and attacks on coalition and Afghan forces in Afghanistan. The designation bars US citizens from engaging in transactions with the designees and freezes the assets of the designees under [...]
King & Spalding advises on NIG sukuk repayment… http://mideast.legalbusinessonline.com/news/breaking-news/exclusive-king-and-spalding-advises-on-nig-sukuk-repayment-sources/109050
RAM Ratings has downgraded the long-term ratings of two of MRCB Southern Link Bhd (MSLB)’s secured sukuk issues and cautioned that there was a high chance the company would default on them in December. MSLB is a funding conduit for the 8.1km Eastern Dispersal Link Expressway (EDL) in Johor Baru. The highway opened to the [...]
Back in the first quarter of this year, SFW covered Goldman Sachs’ ill-fated sojourn into the world of Islamic bonds (sukuk). Goldman had planned on floating a $2 billion sukuk but the entire project was shot down by Shariah scholars. It now appears that Goldman Sachs can thank the infamous Jihadist Mufti Taqi Usmani for [...]
Saudi Gitmo Prisoner Charged With Multiple Terrorism Offenses
On August 31, 2012 · In Al Qaeda, Jihad, Jihadist Groups/Individuals, Saudi Arabia, Terror, Terror Funding, terrorism
We know that it comes as a shock that (i) a Saudi national would be involved in terrorism and (ii) a Gitmo inmate would be involved in such activities (sarcasm intended), but that is just what is happening in the case of Ahmed Mohammed Ahmed Haza al Darbi…who has been charged with several terrorism-related offenses, including [...]
South Africa’s First National Bank (FNB) finds itself in urgent need of a whole new set of Shariah scholars to man its Shariah advisory board after its previous board resigned en masse in a dispute with management. Not surprisingly, given the opaque nature of Shariah-Compliant Finance, details about the dispute are sketchy, but they appear [...]
Al Shabaab collecting zakat in Somalia
On August 31, 2012 · In Al Shabaab, Islamic Law, Jihad, Jihadist Groups/Individuals, Shariah Law, Somalia, Terror Funding, Zakat
The Al Qaeda-affiliated Jihadist organization Al Shabaab is reported to be collecting zakat from the citizenry of Somalia to help finance its terror campaign. News reports claim that Al Shabaab is “extorting” this money on the pretense that it is for the “needy” and then are turning around and using it for military activities, but [...]
Shariah Finance to Establish Foothold in Germany
On August 31, 2012 · In Creeping Shariah, Germany, Islamic Banking, Islamic Finance, Islamization, Shariah Banking, Shariah Finance, Turkey
…with the dutiful help of Ernst & Young and Norton Rose law firm… Turkey’s Kuveyt Turk investment fund, which operates under the principles of Islamic sharia law, plans to open its first German branch in October. The first branch in Germany will be opened in Frankfurt with the assistance of Ernst & Young and the [...]
The Egyptian Muslim Brotherhood wanted to have control of Egypt for 80 years and now they finally have it. Only problem is, things look a lot different from the seat of power than they do from the outside. Egypt is in terrible financial condition, in large part due to the fact that the Muslim Brotherhood [...]
It is quite a challenge to educate the American public about issues like zakat funding jihad, so we’re always heartened when more writers and blogs sound the alarm on this issue. Patriot’s Corner blog recently published two articles devoted to the subject… http://callofthepatriot.blogspot.com/2012/08/muslims-give-back-for-ramadan-zakat-and.html
Mastercard: The Credit Card of the Ayatollahs
On August 30, 2012 · In Interest, Iran, Islamic Banking, Islamic Finance, Islamic Law, Shariah Banking, Shariah Finance, Usury
According to Shariah scholars, Shariah-compliant Muslims are not supposed to pay or receive interest. Nevertheless, many Muslims around the world have credit cards. The Shariah-observant Muslims get around the ban on interest by paying off their balances every month so as not to incur interest charges. But a lot of Muslims use credit cards just [...]
Sukuk continue to be the main weapon of Islamic financial imperialism. This was illustrated recently by a major sukuk offering from First Gulf Bank in the UAE that attracted investors from Asia, Europe and the USA… http://www.cpifinancial.net/news/post/15461/first-gulf-bank-comes-first This is how Shariah-Compliant Finance infiltrates the world financial system and desensitizes Westerners to the perils of Shariah.
Regular SFW readers know that we devote a great deal of attention to the issue of zakat, the system of tithing in Islam. The reason we focus so much on zakat is that, under Shariah, a portion of zakat can go to support violent jihad. The whole issue is related to Shariah Finance because a [...]
Qaradawi’s Qatar Islamic Bank to float $1.5 billion Sukuk
On August 30, 2012 · In Islamic Banking, Islamic Bonds, Qatar, Shariah Banking, Shariah Bonds, Uncategorized
Islamic bonds, properly known as “sukuk” are increasingly becoming the favorite product of Shariah-Compliant Finance. In fact, we’re starting to see more and more Western nations and financial institutions involved in sukuk simply because wealthy Muslim individuals and institutions, armed with massive amounts of petrodollars, are insisting on Shariah-compliance for financing activities. Qatar Islamic Bank [...]
The evidence is really piling up connecting Islamic charities to violent Jihad/terrorism. The latest case comes from the continent of Africa, where authorities arrested 6 Saudi nationals last month for funding terrorism through charitable operations. Very often these incidents involve Saudis and the Saudi embassy leaps to their defense… Ethiopian authorities on Sunday have arrested [...]
Hillary Clinton’s friends and associated in the Muslim world continue to attract curiosity and scrutiny. Money Jihad blog has an interesting post on Muhammad Yunus, a Bangladeshi banker who has won universal praise in the West, but who also has some questionable ties and a shady past… http://moneyjihad.wordpress.com/2012/08/12/muslim-banker-under-renewed-scrutiny/
“Ethical Investing” from Countries Overrun With Corruption?
On August 30, 2012 · In "Ethical Investment", Countries, Egypt, Indonesia, Iran, Iraq, Islam, Islamic Finance, Lebanon, Libya, Malaysia, Pakistan, Saudi Arabia, Sharia Compliant, Shariah Finance, Somalia, Sudan, Syria, Yemen
Transparency.org has publishes a Corruption Perceptions Index that rates the level of corruption in the world’s nations. The most recent year for which there is data is 2011. The results are instructive for observers of Shariah Compliant Finance. Shariah-Compliant Finance is often touted by the financial jihadists as “ethical” investment. There are a variety of [...]
U.S. officials said last week that they seized $150 million connected to a scheme in which entities linked to Hezbollah allegedly used the U.S. financial system to launder money through West Africa and back to the group’s base of Lebanon. The seizure stems from a civil lawsuit filed last year by federal prosecutors in Manhattan [...]
Recently we reported that Standard Chartered bank had been fined hundreds of millions of dollars for conducting transactions with Iran, the world’s foremost sponsor of Jihadist terrorism: http://www.shariahfinancewatch.org/blog/2012/08/13/standard-chartered-bank-helped-iran-hide-transactions-in-defiance-of-us-sanctions/ Standard Chartered’s Iranian affairs are doubly worrisome given the bank’s leadership role in promoting Shariah-Compliant Finance in the West. No patriotic American should have anything to do [...]
How Zakat Funds Jihad
On August 28, 2012 · In Al Qaeda, Hamas, Islamic charities, Islamic Finance, Islamic Law, Jihad, Jihadist Groups/Individuals, Shariah Finance, Shariah Law, Terror Funding, Zakat
From time to time SFW provides links to primary sources which affirm the use of zakat funds to support violent jihad. For new readers who are unfamiliar with the term “zakat,” it is a form of tithing in Islam. Individuals, as well as businesses, are required to pay it. Muslims who are able to do [...]
West Point Report: Haqqani network supported by “rich donors”
On August 28, 2012 · In Afghanistan, Al Qaeda, Drug trafficking, Emirates, Haqqani network, Islamic charities, Jihadist Groups/Individuals, Kuwait, Money Laundering, Pakistan, Qatar, Saudi Arabia, Sharia Compliant, Shariah Finance, Taqiyya, Terror Funding, Zakat
By way of CNN, we have still more evidence of financial support for violent jihad by wealthy Muslims in the Persian Gulf region. The Haqqani network is one of the most virulent Jihadist groups in Afghanistan and Pakistan and has been battling US troops for several years. It is closely allied with both Al Qaeda and [...]
Our only problem with this article is the fact that “legitimate” Islamic charities have customarily raised money for jihad, as required under Shariah. We can’t help but wonder whether the Brits have this right. Did these two twin brothers pose as Muslim Aid fundraisers, or could they have been actual Islamic charity fundraisers? Shabir and Shafiq [...]
First it was HSBC, which was fined $1 billion for knowingly looking the other way on transactions involving Iran. Then it was Standard Chartered, which was fined $340 million. Now it’s Deutsche Bank’s turn. Can we now say that the Shariah Finance promoters COMMONLY do business with terrorist regimes in violation of US sanctions? And [...]
More evidence of zakat funding for the Taliban
On August 14, 2012 · In Jihad, Jihadist Groups/Individuals, Pakistan, Taliban, Terror Funding, Zakat
Here we have more evidence of zakat funding for Taliban jihadis. Note that this article refers to “forced zakat,” but Shariah law texts, such as Reliance of the Traveller, list such funding as a proper destination for zakat funds… Taliban collect funds through extortion, forced zakat, officials say …The militants have also threatened tribe members [...]
First it was HSBC, now it’s Standard Chartered too. Both big banks did business with the world’s foremost sponsor of Jihadist terrorism in violation of US sanctions. There is something else that both of these banks have in common: they are both extremely active in promoting Shariah-Compliant Finance in the West. Shariah Finance Watch has [...]
Categories
