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 [...]
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 [...]
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 [...]
Note that this mechanism is essentially a convoluted construct to replicate interest payments, without calling them interest payments… The Islamic Bank of Britain has reported a 63% rise in take-up of its home financing products for the first three quarters of 2012. The growth in demand for the Sharia-compliant bank’s alternative to mortgages was fuelled [...]
UK Clothier Enforces Shariah Law Among All Employees
On November 19, 2012 · In Britain, Creeping Shariah, HALAL, Islamic Law, Shariah Law, United Kingdom
This is a story that has been going viral on the web. The memo depicted in this post speaks for itself, but essentially what Boo Hoo (the name of the business) is doing is enforcing Shariah law at the expense of the rights of its non-Muslim employees. This is becoming more common all the time. [...]
Shariah Finance Dawah Continues Apace in Britain
On November 13, 2012 · In Britain, Creeping Shariah, Da'Wah, Islamic Banking, Islamic Finance, Shariah Banking, Shariah Finance, United Kingdom
One of the worst kept secrets in the world of Shariah Finance is the fact that, despite great efforts on the part of financial jihadists with obsequious assistance from British political leaders, demand for Shariah-compliant financial products and banking is lacking. Nevertheless, the Shariah Finance industry is continuing its dawah operations there… Sharia finance to [...]
The good folks at Money Jihad blog called our attention to this largely overlooked Jerusalem Post article in which it was revealed that one of the many anti-Israel groups masquerading as charities in the United Kingdom has let slip that it supports martyrdom operations. The name of the charity is Camden Abu Dis Friendship Association (CADFA). [...]
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 [...]
Gatehouse Bank, a wholesale Shariah-Compliant investment bank, has completed the acquisition of a large building which houses the Scottish Ministers National Health Service. http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=333688
Brits seek to halt legal payouts to terror suspects
On May 30, 2012 · In Britain, Jihad, Jihadist Groups/Individuals, lawfare, Terror, Terror Funding, terrorism, United Kingdom
The United Kingdom has paid out some £20million to terror suspects, mainly due to the need to secrecy that has prevented the government from bringing evidence in open court against the suspects, who have accused the UK government of mistreatment… Several probable Jihadis have become wealthy as a result. This money is no doubt now in [...]
A terror plot targeting Kenyan tourist hotels with chemical explosives was financed by Samantha Lewthwaite, the British widow of 7/7 bomber Germaine Lindsay… http://www.telegraph.co.uk/news/worldnews/africaandindianocean/kenya/9258011/77-bomber-widow-Samantha-Lewthwaite-financed-Kenya-tourist-terror-plot.html
Seven people have been arrested in Britain on suspicion of funding overseas terrorism with money linked to smuggling of the stimulant khat. The arrests were part of an international probe into alleged terror fundraising and money-laundering. In a statement, Scotland Yard said the arrests were part of an investigation into a network suspected of illegally [...]
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 [...]
The Jihadist organization, Hizb ut-Tahrir, whose goal is to re-establish the caliphate and have Shariah law imposed around the globe, has once again delved into the world of finance. Back in 2009, the organization called for the demise of capitalism to be replaced by an Islamic system of economics based on Shariah: http://www.shariahfinancewatch.org/blog/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ Now, Hizb [...]
Jihadi fundraiser to be released from prison in the UK
On February 7, 2012 · In Al Qaeda, Britain, Jihad, Jihadist Groups/Individuals, Jordan, Terror, Terror Funding, terrorism, United Kingdom
There is anger in Great Britain over the impending release of Abu Qatada, a terrorism suspect and Imam who was once described as Osama bin Laden’s right hand man in Europe. The Jihadist Muslim cleric is believed to have raised funds for terrorist groups and the British government has declared him a risk to national security. [...]
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 [...]
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