Germany is resisting international pressure to freeze the activities of an Iranian-owned bank based in Hamburg that U.S. officials say provides the financial lifeblood for some of Iran’s blacklisted companies. U.S. and European Union officials in recent months have stepped up pressure on Germany to close down the European-Iranian Trade Bank AG—including a Feb. 2 [...]
Iranian President Mahmoud Ahmadinejad has highlighted the importance of naming the current Iranian calendar year as “The Year of Economic Jihad.” Ahmadinejad said on Sunday that economic jihad should be realized in every aspect of all Iranian’s lives, the president’s official website reported. SFW readers may recall that in November of 2009, Ahmadinejad addressed the [...]
One of the dirty little secrets of the world of Shariah-compliant finance is the fact that it is dominated by a rogue nation with a nuclear weapons program and a long history as the world’s foremost sponsor of Jihadist terrorism: Iran. This is something that regular readers of SFW know well: http://www.shariahfinancewatch.org/blog/2010/11/15/iran-continues-to-lead-the-world-in-shariah-compliant-finance/ Until recently, Iran [...]
Iran, the world’s foremost sponsor of Jihadist terrorism and nuclear proliferator, has announced that it will issue an Islamic bond (sukuk) to finance its oil industry, its primary revenue-generating sector. http://www.tehrantimes.com/index_View.asp?code=236895
The excellent Jonathan Schanzer explains the double-game that Egypt, a nation that receives billions of dollars of US foreign aid, is playing to enable Iranian treachery and aggression…. If you ever find yourself in downtown Tehran, it’s hard to miss the five-story-tall mural commemorating Khaled al-Islambouli, the man who assassinated Egyptian President Anwar Sadat in [...]
Iran Continues to Lead the World in Shariah-Compliant Finance
On November 15, 2010 · In Iran, Islamic Banking, Islamic Finance, Sharia Compliant, Shariah Banking, Shariah Finance, Terror Funding
The November issue of The Banker is out. This is the annual issue that surveys to world’s top “Islamic financial institutions.” And, for at least the 4th year in a row, the statistics indicate that the Islamic Republic of Iran dominates the world of Shariah-Compliant Finance. You remember Iran, don’t you? Iran is the world’s [...]
One of the dirty little secrets of Shariah-Compliant Finance is that there is currently only one country in the world that claims to have a financial system that is 100% Shariah compliant: the Islamic Republic of Iran. As we have noted on SFW in the past, according to the UK-based financial periodical The Banker, Iran [...]
If London is deemed as the foreign exchange transaction hub and New York for equities, where is the Shariah-Compliant Finance transaction hub? There isn’t one. The closest thing the Shariah Finance industry has to a hub would be Tehran, since Iran boasts over 35% of all Shariah-Compliant assets and also is home to the majority [...]
In Islamic Iran where clerics rule, unofficial “prayer sellers,” who promise to intercede with the divine to solve all manner of life’s problems, are seeing their business boom. Iran’s clerics also believe in the power of prayer but they advise people against using prayers that lack a religious basis. Magic and superstition are both illegal [...]
More Wisdom from Money Jihad Blog: Bonyads
On June 26, 2010 · In Bonyads, Iran, Islamic charities, Jihad, Terror, Terror Funding, terrorism, Zakat
Money Jihad continues to do just an outstanding job of shedding some light on the incredibly complicated and opaque world of financial jihad. This week, in their “Weekly Word” feature, they introduce readers to the prominent role that Islamic charities play in the centralized economic system fundamental to Shariah. In Iran, which is of course [...]
Note that while the US tries to convince Russia to support sanctions against Iran over its nuclear weapons program, Russia continues to stay cozy with the Ayatollahs. In this case, Russia is holding an outreach conference aimed at the Muslim world. Shariah-Compliant Finance has been creeping into Russia and the robber barons there are welcoming [...]
This article is from MoneyLaundering.com. It tends to overplay the amount of cooperation that the US is getting from the UAE in our opinion, but it also contains some good information. These particular lines are revealing of Dubai’s status as a financial rogue nation: “…every major” Dubai real estate project “has been, in part, financed [...]
Long-time readers of SFW may recall the integral role played by Harvard Law school in promoting the financial jihad in America. Thanks to the largesse of some notorious Saudi royals and a few other like-minded Jihadis, Harvard law school has an entire program devoted to “Islamic finance.” Yours truly attended an Islamic finance conference at [...]
The report gives no details on the activities of the Iranians in Venezuela and Latin America. Iranian-backed terrorists have conducted few attacks in the region. However, U.S. intelligence officials say Qods operatives are developing networks of terrorists in the region who could be called to attack the United States in the event of a conflict [...]
Are We Financing Our Own Demise?
On March 4, 2010 · In "Ethical Investment", AAOIFI, Hezbollah, Human Rights under Shariah, Human Rights under Shariah Law, Iran, Islamic charities, Islamic Finance, Islamic Financial Services Board, Islamic Law, Islamic schools, Jihad, madrassas, Qaradawi, Sharia Compliant, Sharia Products, Shariah Boards, Shariah Councils, Shariah Finance, Shariah Law, Takaful, Taliban, Terror Funding, Usmani, Zakat
Gadi Adelman and the intrepid Joy Brighton have just published an outstanding analysis of Shariah-Compliant Finance over on the Financial Security Matters site. Please take the time to read it and pass it on to your friends and associates: http://www.familysecuritymatters.org/publications/id.5632/pub_detail.asp
Victims of 2006 Hezbollah rocket attacks sue Iran’s top banks
On February 19, 2010 · In Hezbollah, Iran, Islamic Banking, Israel, Jihad, Shariah Banking, Terror, Terror Funding, terrorism
In yet another clear demonstration of the nexus between Shariah Finance and Jihadist terrorism, 85 people identified as victims of Hezbollah rocket strikes in Israel in 2006 have sued Iran’s leading banks in a U.S. court. The suit in U.S. District Court in Washington seeks $1 billion in compensatory damages from Iran’s Central Bank and [...]
The U.S. Department of the Treasury took further action to implement existing U.S. sanctions against Iran’s Islamic Revolutionary Guard Corps (IRGC) by designating an individual and four companies affiliated with the IRGC pursuant to Executive Order (E.O.) 13382, which freezes the assets of designated proliferators of weapons of mass destruction (WMD) and their supporters. http://www.payvand.com/news/10/feb/1104.html?
From time to time, readers will email us asking for a list of Shariah-Compliant companies. A complete version of such a list is extremely difficult to come by. Some of the better sources for such a listing would be the annual and semi-annual reports of the various Shariah-Compliant investment funds. These reports usually include portfolio [...]
Shadowy Luxembourg Private Banking Firm Tied to Iranian Funds Seized in New York
On December 17, 2009 · In Citigroup, Clearstream Banking SA, Dubai, Hezbollah, Iran, Shariah Bonds, SUKUK, Terror Funding
The U.S. Justice Department has seized over $2 billion in funds alleged to belong to the government of the Islamic Republic of Iran. The funds were being held by Citigroup on behalf of a private banking firm based in the tiny European nation of Luxembourg. That firm is named Clearstream Banking S.A. While Clearstream is [...]
A Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica and Forbes.com
On December 12, 2009 · In Abu Dhabi, Credit Dirivatives, Debt Bonds, Defaults, Derivatives, Dubai, Dubai Investment Group, Dubai Islamic Bank, Economic Crisis, Emirates, Financial Institution, Hezbollah, HSBC, Investments, Iran, Islam, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamic Law, Kuwait, Lebanon, Qaradawi, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Bonds, Shariah Councils, Shariah Finance, Shariah insurance, Shariah Law, SUKUK, Takaful, Taliban, Usmani
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to replace capitalism and our free enterprise system: http://www.forbes.com/2009/12/10/islamic-finance-after-dubai-business-oxford-analytica-islamic-finance.html?feed=rss_business In fact, the article reads less like journalism and more like a press release from [...]
Just a few days ago, the Kuwaiti News Agency (KUNA) was proclaiming that Islamic banking was thriving in Lebanon. It appears that all is not actually so great in Lebanon when it comes to Islamic finance, but we won’t hold our breath waiting for KUNA to report this story. It seems Hezbollah has gotten its [...]
The Banker points out problems with Shariah Finance
On November 27, 2009 · In "Ethical Investment", Britain, European Union, Financial Institution, Iran, Islamic Banking, Islamic Finance, Islamic Law, Islamization, proliferation, Regulation, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Councils, Shariah Finance, Shariah Law, Terror Funding, The Banker, United Kingdom
The British publication “The Banker” has mostly been a cheerleader for Shariah Finance for several years and they have written an article which, while viewing Shariah Finance in a positive light, also points out some of its serious flaws: • “Greed and selfishness” exist in Shariah Finance just as they do in conventional finance. This [...]
Dubai Bank named “Best” Islamic Bank in UAE
On November 24, 2009 · In Al Qaeda, Dubai, Dubai Islamic Bank, Iran, Islamic Banking, Shariah Banking
Being named best Islamic Bank in the United Arab Emirates is an honor that Westerners should take notice of. After all, the UAE, while posing as an “ally” against Jihad, is really at best a double agent. Almost every financial institution in the UAE has some form of ties to Iranian entities and this is [...]
More on South Korea’s Slide to Shariah-Compliant Finance
On November 19, 2009 · In Center for Security Policy, Citigroup, Creeping Shariah, Debt Bonds, Divest Terror, Iran, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamization, Salafism, Saudi Arabia, Sharia Compliant, Shariah Banking, Shariah Bonds, Shariah Finance, Shariah Law, South Korea, SUKUK
Linked below is an article which provides a few more details on a subject we have reported on a few times in recent months: the creeping of Shariah finance into South Korea. Before you read this article, we would like to point out a couple of things: 1. Hyundai’s name being mentioned prominently in this [...]
The promoters of Shariah Finance have now coined a new term to hide their agenda and describe their movement: “Responsible” investing. To do so, they erroneously claim that “Islamic” financial products have provided insulation from the financial crisis and global recession. This, of course, is rubbish, as we have reported on these pages many times. [...]
Feds Move to Seize Alavi Assets, Aiming at Iran, Bank Melli (World’s Number 1 Shariah-Compliant Bank)
On November 13, 2009 · In "Ethical Investment", Alavi Foundation, CAIR, Financial Institution, Iran, Islam, Islamic Banking, Islamic Finance, Jihad, Money Laundering, Muslim Brotherhood, Qaradawi, Sharia Compliant, Shariah Banking, Shariah Finance, Terror, Terror Funding, terrorism, USA
Yesterday the US attorney’s office in Manhattan moved to seize assets of a non-profit foundation tied to Iran. Among those assets are four mosques in New York, California, Maryland and Texas, 100 acres of land in Virginia and a 36-story building at 650 5th Avenue in Manhattan. Much of this activity centers around the ties [...]
Iranian President Mahmoud Ahmadinejad blasts free market capitalism at OIC economic conference
On November 12, 2009 · In "Ethical Investment", Ahmadinejad, Investors Business Daily, Iran, Islam, Islamic Economics, Islamic Finance, OIC, Sharia Compliant, Shariah Finance, Terror Funding, Turkey, Uncategorized
Iranian President Mahmoud Ahmadinejad was a featured speaker at the Organization of the Islamic Conference economic summit about which we reported on 9 November: http://www.shariahfinancewatch.org/blog/2009/11/09/islamic-state-leaders-converge-in-istanbul-for-economic-summit/ In his address to the summit, which some so-called US “allies,” Ahmadinejad called for a replacement of capitalism by an Islamic system of economics. This makes sense since Iran has [...]
Leaders from Islamic states under the Organization of the Islamic Conference (OIC) have converged in Istanbul to attend the economy summit of OIC’s Standing Committee for Economic and Commercial Cooperation. They include Turkish President Abdullah Gul, Kyrgyzstan President Murmanbek Bakiev, Palestinian Prime Minister Salam Fayyad, Iranian President Mahmoud Ahmadinejad, Afghanistan President Hamid Karzai, Syrian President [...]
The British periodical, “The Banker,” has published its 2009 rankings of the Top 500 Islamic Financial Institutions and, once again, Iranian banks dominate the rankings. This is significant because all of the big Iranian banks have been cited for terrorism financing and activities involving fund transfer for proliferation activities. 36% of all assets in Shariah-Compliant [...]
Islamic finance board to set liquidity standards (an admission of trouble)
On November 5, 2009 · In Economic Crisis, IFSB, Iran, Islamic Banking, Islamic Economics, Islamic Finance, Islamic Financial Services Board, Islamization, Regulation, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Boards, Shariah Councils, Shariah Finance, Sudan, Syria, Terror, Terror Funding, terrorism
The Islamic Financial Services Board plans create guidelines for shariah-compliant banks to manage liquidity risks as the industry looks to beef up regulation after the financial crisis. Shariah-compliant banking has been hit by sukuk (Islamic bond) defaults and the now-deflated Dubai real estate bubble, though numerous industry spokesmen have spread the lie that Shariah Finance [...]
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