Shariah Banking is spreading, with government sponsorship, in the world’s most populous Muslim nation… http://www.thejakartapost.com/news/2010/01/19/sharia-banking-grows-strong-indonesia.html?
Indonesia’s Islamic banking assets are set to grow 30 percent next year, partly because of a more favourable tax environment. http://www.iii.co.uk/news/?type=afxnews&articleid=7675758&subject=markets&action=article
Abu Dhabi Islamic Bank plans expansion throughout Asia
On December 8, 2009 · In Abu Dhabi, Indonesia, Islamic Banking, Islamic Finance, Malaysia, Shariah Banking, Shariah Finance, UAE
As if the United Arab Emirates had not done enough to the world financial system through the debacle of Dubai, now Abu Dhabi Islamic Bank has announced plans to expand its business throughout Asia. http://www.arabianbusiness.com/575493-adib-plans-expansion-throughout-asia
Malaysian Islamic reinsurer MNRB Retakaful forecasts that revenue from its overseas operations will exceed that of domestic operations in five years. It particularly has its sights set on Indonesia, Brunei, Sri Lanka and Pakistan. Spreading Shariah insurance to these countries is perhaps not as much of a concern since each is already predominantly Islamic, but one [...]
Prudential to launch two Islamic funds
On October 27, 2009 · In Britain, Dubai, Indonesia, Islamic Equity Funds, Islamic Finance, Sharia Compliant, Sharia Products, Shariah Finance, United Kingdom
British insurer Prudential plans to launch two Islamic equity funds in Dubai in the coming months and apply for an asset management licence in Indonesia… http://www.business24-7.ae/Articles/2009/10/Pages/26102009/10272009_e06349b8453c4b278cce9e206bdf29d6.aspx
Five Indonesian banks including Bank Central Asia, the No. 3 lender, expect to launch standalone sharia units next year. A revised law on value added tax, which removed double taxation in the Islamic market, is expected to encourage more banks to start Shariah banking subsidiaries. http://uk.reuters.com/article/idUKJAK48943020091023?rpc=401&pageNumber=1&virtualBrandChannel=11564
Recent moves in Indonesia, including plans by one province to stone adulterers to death, have raised concerns about the reputation of the world’s most populous Muslin country as a beacon of moderate Islam. One ethnic Chinese Indonesian businessman, a practicing Christian who asked not to be quoted by name, said he feared if the trend [...]
If there is a Western financial institution that has done more to promote Shariah than HSBC, we don’t know about it. HSBC has embraced Shariah enthusiastically and is involved in its financial arm everywhere from Western Europe to the Persian Gulf to the Orient. If there is a financial institution worthy of a boycott by [...]
With the Help of HSBC and Citibank, Shariah-Compliant Finance is Spreading in the Orient
On August 10, 2009 · In Citigroup, Creeping Shariah, Financial Institution, HSBC, Indonesia, Indonesia Sharia Banking, Islam, Islamic Banking, Islamic Finance, Islamization, Malaysia, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Finance, Singapore
Banking giants HSBC and Citibank, already infamous for contributing to the spread of Shariah in the West, are now fast at work aiding the spread of Shariah in Malaysia and other key markets in Asia and the Pacific Rim. Keep this in mind when you select banks to do business with. HSBC and Citibank are [...]
Indonesian government to issue Shariah bonds
On July 31, 2009 · In Debt Bonds, Indonesia, Islamic Bonds, Sharia Compliant, Sharia Products, Shariah Bonds, SUKUK
The Indonesian government will sell Rp 1 trillion (US$100 million) worth of sharia bonds next month through auction… http://www.thejakartapost.com/news/2009/07/30/govt-sell-rp-1t-worth-sharia-bonds.html-0
Middle Eastern Islamist regimes, awash in petrodollars, are now touting Shariah Finance as the key for renewed economic growth. What this amounts to is Islamic imperialism. Whereas in the past Saudi, Kuwaiti and other oil sheikhs in the 1970s began expanding their clout by investing in Western real estate and securities markets, today they have [...]
Once again, a Muslim leader has fraudulently proclaimed that Shariah-Compliant Finance is a solution to the “global financial crisis.” This time the proclamation came from Jusuf Kalla, vice president of Indonesia. This runs counter to reality, which is that Shariah Financial institutions and products have suffered right along with other vehicles and sectors. In fact, [...]
http://www.thejakartapost.com/news/2009/05/26/sharia-trade-swaps-mooted.html The Jakarta Post has an interesting and revealing article this morning. It seems that Syafii Antonio, the CEO of a major Shariah-Compliant institution, is proposing “shariah-compliant currency swaps.” This suggestion is as laughable as it is hypocritical. If a “currency trade swap” looks and sounds like a derivative to you, you’re not alone. It IS a [...]
Reuters has a revealing article this morning which characterizes the spread of Shariah-Compliant Finance through quasi-official bodies headed by tyrannical regimes in Islamic nations. I’ll provide a quote that explains the gist of the article before I embark upon a deconstruction of the organization it came from: “Central banks are increasingly realizing they have to [...]
Indonesian government advised not to issue Shariah bonds now
On March 13, 2009 · In Citigroup, Indonesia, International Monetary Fund, Islamic Bonds, Shariah Bonds, SUKUK
CitiGroup has advised the Indonesian government not to issue Shariah bonds (also known as Sukuk) at this time due to adverse market conditions and the large number of bond issues in the global marketplace. It is also interesting to note that CitiGroup also cited the “high yield” that Indonesia would have to set for the [...]
Lies from the President of Indonesia
On March 11, 2009 · In Indonesia, Indonesia Sharia Banking, Islamic Banking, Islamic Finance, Shariah Banking
At SFW one of our chief activities in the past couple of months has been to dispel the notion that Shariah-Compliant Finance (sometimes referred to as “Islamic Finance”) has been immune to the impact of the world financial crisis. Just yesterday we reported on two articles on the impact of the world financial crisis on [...]
If ever there was definitive proof that the true purpose of Shariah-Compliant Finance is to promote Shariah, it shows up in bold form in an article in the March 2nd Financial Times which we’ve linked at the end of this column. The practicioners of political Islam, known to some as “Islamists,” met in Jakarta, Indonesia [...]
Islamist politicians in Indonesia are attempting to impose Shariah on the entire country, including non-Muslims, with legislation which would basically entrench Shariah standards for food products. Critics of the bill correctly point out that it will directly impact non-Muslims. No doubt, this is exactly why the Islamists have introduced the legislation. It should also be [...]
Islamic clerics in Indonesia have issued edicts banning yoga, smoking and voting abstention. These rulings have created a rift with Muslim organizations. Many in Indonesia say that the rulings demonstrate how out of touch the Shariah authorities are….if only our own folks on Wall Street realized this too… http://www.thejakartapost.com/news/2009/01/28/editorial-controversial-edicts.html
www.annalyttiger.wordpress.com Jakarta, 11 Nov. (AKI) – Days after the execution of the three Bali bombers, an Indonesian Islamist linked to the terrorist group Jemaah Islamiyah has issued a veiled warning for holy war. “At the moment our jihad is to transmit the words of the Koran,” Abdul Rochim, son of JI’s presumed leader Abu Bakar [...]
NewswireToday – /newswire/ – London, United Kingdom, 10/24/2008 – ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report examining the Indonesian Sharia banking market. Report Buyer, has added a new report examining the Indonesian Sharia banking market. The report “Sharia Banking System in [...]
Been harassed by hardline religious police? Been arrested for holding hands with your own spouse? I have. Now our children can share these exciting experiences with a board game inspired by Sharia law. Just take home a copy of Good Game, a genuine board game introduced to me by reader Isman Suryaman from Indonesia. [...]
October 7, 2008 Islamic Group Gains Power in Indonesia By PETER GELLING JAKARTA — In a sign of its growing prominence, Indonesia’s Council of Ulemas moved its headquarters from the basement of a major mosque here into an expensive new office tower in the heart of downtown. The council was established in 1975 [...]
JAKARTA, Sept 24 (Reuters) – Indonesia’s finance ministry plans to issue sharia government bonds for retail investors in the first half of 2009, in a bid to expand domestic-based investors, a senior finance ministry official said on Wednesday. Indonesia has fallen behind its neighbours such as Malaysia and Singapore in developing Islamic finance, which has [...]
http://au.christiantoday.com/article/the-battle-for-indonesia/4364.htm
US crisis to hit, not crush, sharia market: Affin * US financial meltdown to hit sharia finance market * Upbeat on Malaysian Islamic property and bond markets * Working on about US$289 million of property projects Sharia banks have so far been relatively unscathed by the turmoil on Wall Street, which industry experts attribute [...]
Indonesian legislation revives pornography law by correspondent Michel Maas*www.dailymail.com 18-09-2008 More than two years ago Indonesia’s parliament shelved legislation which would ban pornography after people throughout the country took to the streets in mass demonstrations. Suddenly, in the middle of the Muslim fast month Ramadan, the legislation has been reintroduced. The bill introduced two [...]
Friday, 19 September 2008 Sharia finance needs real deal, not copycats – scholar By Liau Y-Singwww.en.epochtimes.com KUALA LUMPUR, Sept 18 (Reuters) – Sharia banking needs to develop more of its own products and avoid imitating conventional financial instruments in structures that compromise the spirit of Islam, a leading religious scholar said. Sharia instruments have to [...]
Future of Islamic finance in Republic Indonesia Badlisyah Abdul Ghani, Jakarta Indonesia, the sleeping giant of Islamic finance, has finally awakened. Now that its laws on sukuk (akin to bonds) and sharia banking are firmly in place, the country has sent a clear signal to the financial world it is serious about developing the Islamic [...]
JAKARTA: Indonesia’s central bank is revising regulations to allow the country’s Islamic banks to trade their Sharia bonds in the secondary market, deputy governor Siti Fadjrijah said yesterday. Under the current scheme, Sharia banks are only allowed to use sukuk for investment by holding the bonds until their maturity dates, while conventional banks [...]
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