Egypt still considering IMF loan
On January 8, 2013 · In Egypt, Interest, International Monetary Fund, Islamic Law, Muslim Brotherhood, Shariah Law, Usury
Back in August we reported that Egypt was contemplating taking out an IMF loan in an attempt to right the country’s shaky financial condition. At the time we pointed out that a $4.8 billion loan from the IMF was not likely to be Shariah-compliant… http://www.shariahfinancewatch.org/blog/2012/08/30/between-a-rock-and-a-hard-place-egyptian-muslim-brotherhood-struggles-with-idea-of-imf-loan/ Well, here we are over 4 months later and the [...]
In Nigeria, a bank offering “interest-free” loans to poor farmers back in 2009 in conjunction with a Shariah court judge, is now under investigation for fraud. Readers may want to take note that Nigeria is being wracked by a violent jihad these days: http://vinienco.com/2012/11/26/twelve-christian-pastors-killed-muslims-nigeria/ http://vinienco.com/2012/11/26/muslim-suicide-bombers-kill-eleven-christians-attending-sunday-church-service-nigeria/ As has so often been the case, violent jihad is [...]
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 [...]
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 [...]
International Monetary Fund Managing Director Christine Lagarde called Egyptian President-elect Mohamed Mursi and reiterated that the IMF stands ready to support Egypt and looks forward to working closely with the authorities in Cairo. Muslim Brotherhood officials have said they plan to resume the previous government’s stop-and-start negotiations for a $3.2 billion IMF loan. Thus far there [...]
Shariah Finance Watch editor briefs Congressional staffers on Shariah-Compliant Finance
On June 8, 2012 · In "Ethical Investment", AIG, Al Qaeda, Amana Funds, Center for Security Policy, Creeping Shariah, Da'Wah, Dow Jones, Dow Jones Islamic Market, Elena Kagan, Hamas, HARVARD, Hezbollah, Hizb ut-Tahrir, Holy Land Foundation, HSBC, Interest, Investors Business Daily, Iran, Islam, Islamic Banking, Islamic charities, Islamic Economics, Islamic Finance, Islamic Law, Islamization, Jihad, Jihadist Groups/Individuals, Malaysia, Money Laundering, murabaha, MURAHABA, Muslim Brotherhood, Obama, OIC, purification, Qaradawi, Qatar, Regulation, Saudi Arabia, Sharia Compliant, Shariah Banking, Shariah Finance, Shariah in Academia, Shariah insurance, Shariah Law, Shariah Mortgage, Sovereign Wealth Funds, Sudan, Takaful, Taliban, Terror, Terror Funding, terrorism, The Banker, U.S. Policymakers, UAE, United Kingdom, USA, Usmani, Usury, VIDEOS, Wahhabism, Zakat
Recently we had the opportunity to brief staff members from 10 Congressional offices on the threat of Shariah Finance. The briefing was recorded and we have posted the full 1-hour briefing here for SFW viewers… Shariah Compliant Finance and Financial Jihad
Euromoney.com is once again giving out awards for compliance to the financial wing of the barbaric, medieval doctrine known as Shariah. They have a whole host of awards to dole out (no fewer than 19 awards in the field of “Islamic” finance), which probably indicates that these awards are a convoluted effort to drum up [...]
Proponents of Shariah Banking are pushing for its acceptance in India, where there has been strong opposition to the concept from time to time. Now the financial jihadists are trying to foist Shariah Banking off on Indians by dubbing it “Interest-Free Banking.” You can put lipstick on a pig, but it will still be a [...]
Shariah-Compliance may have a prohibition against interest, but that sure does not mean that Shariah-Compliant financial institutions won’t charge handsome fees for their services… Islamic banks such as Albaraka Bank (South Africa) and the Islamic banking windows of FNB, ABSA, Nedbank and Standard Bank have come under heavy criticism from Muslim customers from following the [...]
A powerful Islamic seminary in northern India, with ties to Jihadist groups, has issued a fatwa, or decree, against Muslims working in banks. According to a spokesman for the seminary, tenets of Shariah law state that Muslims must not work in banks because as employees they would have to deal with transactions involving interest and [...]
Ottawa Imam issues fatwa against credit cards
On February 18, 2010 · In Canada, Interest, Islamic Banking, Sharia Compliant, Shariah Banking, Shariah Finance, Usury
Imam Khaled Abdul-Hamid Syed has issued a fatwa against credit cards, even if they are paid off every month. There are two schools of thought about credit cards among Islamic scholars. Some argue they are permissible as long as no interest is accrued, meaning bills must always be paid in full. Others disagree, quoting one [...]
Islamists in Kuwait debate loans and interest
On January 5, 2010 · In Interest, Islam, Islamic Economics, Islamic Law, Kuwait, Salafism, Saudi Arabia, Sharia Compliant, Shariah Finance, Shariah Law, Usury
We found an interesting article on Kuwait Times this morning. It seems that the Kuwaiti parliament is debating whether or not to “write” off interest on government loans to its citizens. It has been claimed for decades that interest is forbidden in Islam–either charging it or paying it. As a result of that portion of [...]
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