Sukuk Issuance Hit $131 Billion in 2012
On January 12, 2013 · In Creeping Shariah, France, Germany, Islamic Bonds, Islamic Economics, Islamic Finance, Islamization, Sharia Compliant, Shariah Bonds, Shariah Finance, Shariah Law, SUKUK
KFH Research reports that Shariah-compliant bond (sukuk) issuances reached $131 billion during 2012, a 54% increase over 2011. As we have reported previously on SFW, sukuk are fast becoming the weapon of choice for promoting Shariah through Shariah-Compliant Finance. Here is how that works: • As we know from historical records and contemporary statements from [...]
The purpose of Shariah Finance is to promote Shariah. The chief weapon for achieving that over the past 2 years has been what is known as the Islamic bond, or sukuk. Sukuk are increasingly being used on both sides of the credit market. When Islamic nations and companies want to raise money in the credit [...]
Nigeria is a country that has been wracked by violence from Boko Haram Islamic terrorists. They have been particularly brutal in their attacks on Christian worshippers in churches on Christian holy days, such as Christmas and Easter. Now the financial jihad has come to Nigeria. At a zakat seminar (NOTE: zakat is used to fund [...]
On June 7th, we posted an article about how Tennessee’s Republican governor and Economic and Community Development commissioner had seen fit to appoint a former Obama White House official who happens to be a specialist in Shariah Finance to their state’s office of Economic and Community Development. Her name is Samar Ali. SFW has documented [...]
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
Irish Attorney: “Financial shock would never have happened under shariah”
On May 21, 2012 · In "Ethical Investment", Defaults, IRELAND, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamic Law, Islamization, Shariah Banking, Shariah Bonds, Shariah Finance, Shariah Law, SUKUK, Uncategorized
Every once in a while we come across a story that is really outrageous. Some or outrageous because they are inaccurate. Others are outrageous because they are simply offensive. Today we bring to you an article from John King, an attorney with one of Ireland’s most prominent law firms, in which he makes the case [...]
An extraordinary meeting of the Gulf Cooperation Council was held to discuss the Council’s transformation into a union – be it a federation or confederation; an agreement has yet been reached regarding which form that union would take. Among the justifications used to promote the idea of a union is the fact that the GCC [...]
For at least the third time, Iranian President Mahmoud Ahmadinejad has launched a verbal broadside at capitalism, this time blaming it for the economic crisis in the West, the current trouble in Europe in particular. Previously, in September and November of 2009, Ahmadinejad was critical of capitalism: http://www.shariahfinancewatch.org/blog/2009/09/25/ahmadinejad-criticizes-capitalism/ http://www.shariahfinancewatch.org/blog/2009/11/12/iranian-president-mahmoud-ahmadinejad-blasts-free-market-capitalism-at-oic-economic-conference/ Ahmadinejad’s repeated attacks on capitalism are [...]
Northern Cyprus, which was seized in an invasion by Turks in 1974, is now said to be ripe for Islamic investors. Northern Cyprus is said to offer excellent investment opportunities in tourism and agriculture. There’s just one catch: Turkey is essentially an occupying force. Isn’t it funny how we never hear anything about the Turkish [...]
We’re not big fans of Thomson Reuters, simply because they are market participants and, as such, cannot be regarded as objective in terms of their reporting of Shariah-Compliant Finance. They have published something useful today, however: a glossary of Shariah Finance terms and definitions. Any one with an interest in studying this industry should print [...]
We have learned not to expect much from The Huffington Post. In fact, we make it a point to avoid it on most days. But today “HuffPo” published an article by Annalisa Musarra of the “Religion News Service” and we had to read it. It amounts to a celebration of Muslims NOT assimilating into society as [...]
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 [...]
Transparent Baloney from the Muslim Brotherhood in Egypt
On December 28, 2011 · In Egypt, Islamic Economics, Islamic Finance, Muslim Brotherhood, Shariah Finance
Two days ago, we reported that the Muslim Brotherhood in Egypt had declared the Egyptian stock market to be Shariah-compliant. Today we are greeted with the news that the Muslim Brotherhood backs free markets. HA! “We have sought to reassure people that a free market in Egypt is the only way forward,” said Mahmoud Ghozlan, [...]
Two years ago, this same outfit was calling for replacing capitalism with an “Islamic system of economics” based on Shariah. http://www.shariahfinancewatch.org/blog/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ Evidently, in Hizb-ut-Tahrir’s twisted logic, that fits in nicely with the Gold Standard…We’re skeptical of the connection…You pretty much need free markets for a true gold standard and Shariah-Compliant Finance is one of the [...]
The governors of central banks and monetary authorities of the Organization of Islamic Cooperation (OIC) member countries met in Kuala Lumpur this month to discuss “Central Banking and Financial Sector Development.” Central to the discussion was the potential role of Shariah-compliant finance in contributing to economic growth and financial stability. Many myths have been propagated about [...]
Long time readers of SFW may recall the Jihadist organization Hizb ut-Tahrir from a conference the group held in June 2009 in Chicago. The theme of that conference was the replacement of capitalism with Islam and Shariah… http://www.shariahfinancewatch.org/blog/2009/06/21/hizb-ut-tahrir-jihadists-target-capitalism/ While conducting research, we came across an excellent blog of which we were previously unaware: Hizb ut-Tahrir Watch. [...]
Craziness for Profit: Shariah Scholar/Advisor Mufti Taqi Usmani Blames Commodities Markets for Financial Crisis
On November 24, 2011 · In Dow Jones, Economic Crisis, HSBC, Islamic Economics, Islamic Finance, Islamic Law, Sharia Compliant, Sharia Videos, Shariah Boards, Shariah Finance, Shariah Law, Usmani
At SFW we have covered Mufti Taqi Usmani extensively over the years. He has long been considered one of the most prominent and influential Shariah scholars in the world of Shariah Compliant Finance. According to many observers, critics and market participants alike, Usmani is the Shariah finance [...]
Al Qaeda released an online video to mark the 10th anniversary of the September 11th terrorist attacks, with messages from the late Osama Bin Laden and his successor, Dr. Ayman Al-Zawahiri. The message from Bin Laden warned Americans against ‘falling as slaves’ to the control of major corporations and claimed the ‘tyranny’ of capitalism had brought [...]
Some REALLY Bad Ideas on How to Solve America’s Debt Problems
On August 9, 2011 · In Creeping Shariah, Da'Wah, Debt Bonds, Defaults, Economic Crisis, Fatwa, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Islamization, MEDIA, Media, Nakheel, Sharia Compliant, Sharia Products, Shariah Banking, Shariah Bonds, Shariah Finance, Shariah Law, stealth jihad, SUKUK, U.S. Policymakers, USA, Usmani, Usury, Zakat
Not surprisingly, the financial jihadists are promoting Shariah as the solution to America’s debt problems. We’ve seen this before. Back in 2008, in the wake of the subprime mortgage debacle and near-financial meltdown, the financial jihadists insisted that Shariah-compliant finance would have avoided the whole mess. Then, in 2009, defaulting on sukuk (Islamic bonds) just [...]
Islamist Parties Pushing Shariah Economic Agenda
On July 18, 2011 · In Egypt, Islamic Economics, Islamic Finance, Islamic Law, Islamization, Shariah Finance, Shariah Law, Zakat
Unlike liberals, leftist or social democratic political parties, their Islamist counterparts are hardly defined by their economic perspective. Religious parties always built principles and guidelines around a religious-ideological axis, meaning economic ideology was never an immutable cornerstone of what they believed in, or ran on. But as Islamic parties inhale their first breaths as recognized [...]
Gulf Times out of Qatar has published a brief article on the basis in Islamic scripture for some of the policies and practices for Islamic commerce and finance. In reading this article, you can see the origin of the prohibition of short selling, insider trading, as well as a few other transgressions. Basically harmless stuff, [...]
It’s not so newsworthy that foreign investors are interested in acquiring a 50% share of Bank Muamalat, a major shariah-compliant bank in Indonesia. But it is worth mentioning that Indonesia’s central bank has declared that no foreign investor will be permitted to alter the bank’s shariah-compliance platform. Note that when Shariah-compliant institutions invest in the West, [...]
As previous reports have indicated, despite pledges not to become overly involved in politics, the Muslim Brotherhood is wading into political waters in Egypt with both feet and part of their agenda is to promote shariah-compliant finance. This is a sensitive subject in Egypt since some Egyptian shariah scholars have historically viewed many of the [...]
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 [...]
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 [...]
The Islamization of American Business
On September 30, 2010 · In Creeping Shariah, Islamic Economics, Islamic Law, Islamization, Sharia Compliant, Sharia Products, Shariah Law, stealth jihad, USA
The intrepid Christopher Logan over at Logan’s Warning has brought a new web site to our attention: AmericanMuslimConsumer.com. On October 30th, there will be an American Muslim Consumer Conference which is described as: the only platform for industry professionals to examine this potent market sector, and explore its rich potential.It effectively raises awareness of the [...]
A recent International Monetary Fund (IMF) report has argued that the rapidly growing Shariah banking sector may accelerate economic development of the Muslim world. We are a bit confused as to why this is, seeing as the Muslim world has been awash in petrodollars for generations, yet its overall economic development has been patchy at [...]
The White House has announced the appointment of 13 men and women to serve as White House Fellows. Atop the list in the release issued by the White House is an attorney named Samar Ali. Ms. Ali specializes in advising clients on “Shariah-compliant” transactions and was a founding member of the first U.S. delegation to [...]
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 [...]
Unemployment in America is hovering at just below 10 percent, so President Obama hosted a “Summit on Entrepreneurship” in Washington, D.C., in an effort to boost economic development … in Muslim nations. The president thinks more U.S. investment in Muslim lands and exchange programs that will bring Muslim women to America so they can work [...]
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