One of the overt objectives of the financial jihadists has always been to capture the assets of non-Muslims in Shariah-compliant investments and accounts. They have used a wide variety of methods to do so. For instance, Sheikh DeLorenzo, who is on several major Shariah advisory boards in the USA and abroad, has advocated for not [...]
Typical Propaganda on Islamic Bonds from Saudi State-Controlled Media
On October 7, 2011 · In Britain, China, Creeping Shariah, Defaults, Economic Crisis, France, Germany, Hong Kong, Islamic Banking, Islamic Bonds, Islamic Finance, Islamization, Japan, Saudi Arabia, Shariah Banking, Shariah Bonds, Shariah Finance, Singapore, South Korea, SUKUK
The article linked below has to be taken with a large grain of salt since it comes from the Saudi Gazette. There is nothing even resembling a free, independent press in Saudi Arabia and the Saudi royals have a huge vested interest in promoting Shariah-Compliant Finance both in the kingdom and globally. Not surprisingly, this [...]
London bank launches key Shariah fund
On June 27, 2011 · In Britain, Islamic Banking, Islamic Equity Funds, Islamic Finance, Shariah Finance, United Kingdom
Bank of London and the Middle East (BLME) has announced the launch of a Sharia-compliant fund which targets institutional and high net-worth investors in Gulf countries. http://www.tradearabia.com/news/BANK_201006.html
British Muslim Charged With Raising Funds for Jihadist Terrorism
On June 27, 2011 · In Al Qaeda, Al Shabaab, Bangaladesh, Britain, Jihad, Terror, Terror Funding, terrorism, United Kingdom
A British Muslim has been charged with three counts of raising funds for terrorism. Shabaaz Hussain, 27, from east London, is accused of providing money or property for terrorism purposes on 12 April, 6 July and 3 September 2010. He is also accused of playing a part in preparing for acts of terrorism in Somalia [...]
Accountants play a vital role in the world of finance. They are supposed to be the unbiased analysts and observers of data who help keep the rest of us from making egregious mistakes either based on emotion or because we simply lack the sophistication to decipher the numbers to fully understand a financial arrangement. Unfortunately, [...]
The first Sharia-compliant pension fund has been launched in the UK. The fund which does not invest in companies that trade in guns, alcohol, gambling, tobacco or pornography, nor does it receive interest, has been launched by Pointon York and the Islamic Bank of Britain (IBB). Investors will be able to save in a self-invest [...]
Just last week, SFW linked to a BBC video report on a new policy in the UK to cut off public funds to Muslim organizations that have been found to fund “extremism:” http://www.shariahfinancewatch.org/blog/2011/06/07/britain-to-cut-off-government-funding-to-islamist-groups-that-refuse-to-renounce-extremism/ Today, by way of the intrepid Melanie Phillips, we can provide more details on just how British public funds ended up in [...]
Muslim groups that refuse to renounce extremism will be cut off from government funding under revisions to counter terrorism policy. It is one of several changes to the “Prevent” strategy which will be announced by the Home Secretary Theresa May. Prevent was launched in 2007 to stop the growth of militant Islamism. Changes are likely [...]
London and Luxembourg are engaged in a “battle of the listings domicile” especially for sukuk and Islamic investment funds, and its seems that the London Stock Exchange (LSE) currently has the upper hand on its counterpart in the Duchy, Luxembourg Stock Exchange. http://arabnews.com/economy/islamicfinance/article448955.ece
Unfortunately, the British continue to invite the financial jihadists into their investment houses and banks, determined that this will attract shiploads of petrodollars without impacting British culture, society and security. Before dismissing the notion that Shariah finance could introduce nefarious elements into a Western host nation, readers should remind themselves that the whole purpose of [...]
The fifth annual London Sukuk Summit is scheduled to take place on the 8th – 9th of June 2011. As if to prove that the Islamization of Great Britain continues apace, the link below takes you to a British government web site promoting this upcoming event… http://www.ukti.gov.uk/investintheuk/event/129473.html
Last week we posted a brief report about how the Wikileaks documents had revealed that in 2006 the US State Department was worried about Shariah banks funneling money to Jihadist terrorist organizations. The Telegraph has a bit more detail elaborating on that subject: “…the British Government was aware of “profound shortcomings” in the regulation of [...]
It sure would have been nice if these same concerns were shared by our shameful US Treasury Department, which held seminars on Shariah-Compliant Finance after Secretary of State Condoleezza Rice raised these issues… LONDON, March 15 (Reuters) – U.S. authorities expressed concerns that Britain’s growing sharia banking sector may be exploited to channel funds to [...]
Stoxx has launched three Islamic finance indices to help investors benefit from the nascent shariah market in the UK, according to the firm’s chief executive. Hartmut Graf, chief executive for Stoxx, said the indices were designed to act both as a benchmark for actively managed funds, and to underlie exchange-traded funds and other investable products [...]
London mayor heads to Dubai with hat in hand, asks for more financial jihad
On February 15, 2011 · In Britain, Creeping Shariah, Da'Wah, Dubai, Dubai Investment Group, Dubai Islamic Bank, Islamic Banking, Islamic Bonds, Islamic Finance, Shariah Banking, Shariah Bonds, Shariah Finance, stealth jihad, SUKUK, United Kingdom
Islamic Development Bank (IDB) President Ahmad Mohamed Ali held a meeting with the Lord Mayor of the City of London, Alderman Michael Bear. Ali, who stressed the importance of the annual coordination meetings between the two parties, commended the tangible development of IDB relations with the business community in London, which poses an international hub [...]
Perhaps because Shariah banking has received such a cold reception in Great Britain, British Shariah-compliant banks are now moving into the Islamic world. It is yet to be seem how this will work out for them, since Qatar just moved to shut down the Shariah-compliant divisions of HSBC, Barclays and Standard Chartered in that country. [...]
NEST is seeking to include a passive or actively managed Sharia compliant global equity investment option as part of its optional suite of investment funds in order to fully provide for the needs of scheme members. http://www.professionalpensions.com/professional-pensions/news/1938529/nest-offer-sharia-global-equity-fund
Qatar Islamic Bank targets British mid-cap market
On October 25, 2010 · In Britain, Creeping Shariah, Islamic Banking, Islamization, Qaradawi, Qatar, Shariah Banking, United Kingdom
Qatar Islamic Bank, whose Shariah advisory board is headed by the Jihadist Sheikh Yusuf al-Qaradawi, has unveiled a new lending strategy targeting small to medium-sized British companies. QIB is focusing on profitable companies whose products are in line with “Islamic” tenets, which means Shariah-compliant. Qaradawi is forbidden to enter the UK due to his ties [...]
Great work by Money Jihad blog on the Zakat-Terror Finding Nexus
On October 25, 2010 · In Al Qaeda, Bangaladesh, Bin Laden, Britain, Islamic charities, Jihad, Taliban, Terror Funding, United Kingdom, Zakat
Over the past week, Money Jihad has posted some excellent work on the use of zakat funds for Jihad. These postings are not to be missed… 1. British Muslims are the Taliban’s Greatest Source of Revenue http://moneyjihad.wordpress.com/2010/10/22/british-muslims-are-taliban’s-“greatest-source-of-revenue”/ 2. Osama Bin Laden calls for a new mega-Islamist charity http://moneyjihad.wordpress.com/2010/10/24/just-what-the-world-needs/ 3. Zakat money flows uninterrupted to Jihadist [...]
Dubai-based Millennium Private Equity Limited (MPEL) are the ultimate financiers in the transaction, which has raised financing using the musharaka (joint venture) Sukuk (Islamic bond) structure for the technology development company based in the North East of England. http://www.lawyersweekly.com.au/blogs/deals/archive/2010/08/18/norton-rose-advises-on-uk-s-first-sukuk.aspx
Barclays Capital, the investment banking arm of London-based Barclays Plc, is offering Shariah- compliant repurchase agreements to allow Islamic banks and investors manage their funds. Barclays introduced the product worldwide two weeks ago and is focusing on clients in Malaysia and the Middle East. http://www.businessweek.com/news/2010-08-18/barclays-capital-offers-islamic-repos-in-1-trillion-market.html
In a sign of Islamic economic imperialism on the march, Islamic Bank of Britain (IBB) has secured a £20million ($30.8 million) capital injection from founding shareholder Qatar International Islamic Bank… http://www.cpifinancial.net/v2/News.aspx?v=1&aid=5632&sec=Islamic%20Finance
Growth in Islamic financing in the U.K. has been hampered by an economic slump and what Moody’s Investors Service describes as a lack of government support. With so many financial jihadists claiming that Shariah-Compliance provides insulation against economic downturns, one is left wondering how the recession could possibly be hampering Shariah banking??? Perhaps the real [...]
Thomas Cook, the British travel concern, failed to place a $50m Islamic aircraft finance bond with investors, highlighting that the market for debt that complies with Muslim law has yet to recover fully from a rash of defaults over the past two years. The planned Islamic bond, properly called sukuk, was to have been the [...]
Harrods Goes Halal
On July 13, 2010 · In Britain, Creeping Shariah, HALAL, Islamization, Qatar, Women's Rights Under Shariah Law
Now Muslim women can buy expensive, high-fashion versions of black Islamic robes, which obscure the contours of a woman’s body, when they head to London to escape the Arabian Peninsula’s sweltering heat. Harrods started selling abayas by Beljafla’s DAS Collection in June, a month after Qatar’s sovereign-wealth fund bought the landmark store. http://www.businessweek.com/news/2010-07-12/harrods-sees-profit-from-islamic-fashion-as-qatar-takes-control.html
Shariah-Compliant bank accounts and other financial products have failed to take off in Britain, according to industry insiders. http://www.theaustralian.com.au/business/industry-sectors/sharia-compliant-banking-products-a-huge-flop-in-britain/story-e6frg96f-1225882133009
One Law for All Campaign will be holding a rally in London demonstrating against Shariah and for secular laws…details at the link… http://www.onelawforall.org.uk/20-june-2010/
Standard Chartered Bank, one of the United Kingdom’s largest and oldest financial institutions is set to enter the Saudi market to promote Shariah-Compliant Finance. If any non-Muslim Standard Chartered employees happen to find themselves transferred to Saudi Arabia, they may want to remember not to exercise their religion where anyone can see or hear them [...]
London can play a major role in the growth and the further progress of the Islamic financial sector due to vast exposure to the sector, said HRH Prince Andrew, Duke of York. http://biz.thestar.com.my/news/story.asp?file=/2010/5/21/business/6308286&sec=business
The 500 euro note, one of the largest denomination notes in the world, is being pulled from distribution in the United Kingdom. They are known in some countries as “bin Ladens” – the bank note everyone knows exists, but few people other than criminals will ever see. The decision comes after police linked 90 per [...]
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