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 [...]
We are very pleased to bring to SFW readers a submission from a financial insider who has seen the world of Shariah-Compliant Finance up close and personal, David Clark. David has spent several years structuring Shariah compliant finance deals. In this time he had access to the leading Islamic scholars and Shariah boards and learned just what a joke “Islamic finance” [...]
In 2009, the aggregate of Shariah-Compliant assets under Shariah-Compliant financial institutions totaled $950 billion. Last week, Moody’s Investor Services forecast that number to grow to $5 trillion. Such a figure would give the financial jihadists almost unbeatable clout in the global financial industry… http://www.todayszaman.com/tz-web/news-207150-105-islamic-finance-assets-could-reach-5-trillion.html
Thomson Reuters has launched a new service that caters to the Shariah-Compliant Finance industry, a gateway that is totally dedicated to Shariah… http://www.thedailynewsegypt.com/article.aspx?ArticleID=28780
The Current Economic Crisis – Is Islamic Finance a Solution? Parvez Ahmed promotes Shariah on the Huffington Post site from his professorship at the University of North Florida…a state-funded higher education institution… http://www.huffingtonpost.com/parvez-ahmed/the-current-economic-cris_b_516965.html?
Craig R. Smith, the Chief Executive Officer of Swiss America Trading Corporation, has published a report which details developments surrounding the Islamic Gold Dinar, a concept that has been floating around for some time but which has never really come to fruition. Smith points out that such a currency would pose a direct threat to [...]
Oxford Analytica Continues to Shill for Shariah
On March 10, 2010 · In AAOIFI, Accounting, Creeping Shariah, Dubai, Islamic Banking, Islamic Bonds, Islamic charities, Islamic Economics, Islamic Finance, Islamic Law, Shariah Banking, Shariah Boards, Shariah Bonds, Shariah Councils, Shariah Courts, Shariah Finance, Shariah Law, Sudan, Syria, Terror, Terror Funding, terrorism, Usmani, Zakat
The economic consultancy Oxford Analytica has frequently used its space on Forbes.com to promote Shariah-Compliant Finance. We have pointed this out on SFW in the past: http://www.shariahfinancewatch.org/blog/?s=Oxford+Analytica Oxford Analytica has taken yet another step to promote financial jihad with an article on Forbes.com. This new article is so overrun with troubling and disturbing aspects that [...]
Islamic finance system urged for Guernsey
On February 19, 2010 · In Britain, Creeping Shariah, Islamic Economics, Islamic Finance, Islamization, Shariah Finance, stealth jihad, United Kingdom
Guernsey, one of the Channel Islands between Great Britain and France, has a semi-autonomous political and economic system, but maintains close official relations with the United Kingdom. Unfortunately, someone in Guernsey thinks it’s a swell idea to adopt Shariah-compliant finance for its financial system…the last time a foreign totalitarian doctrine was in control on Guernsey [...]
The Shariah-Compliant Finance sector has been affected by the downturn in the global economy. Asset growth slowed in 2009 according to the Islamic finance report from International Financial Services London (IFSL), an independent organization. http://www.hedgefundsreview.com/hedge-funds-review/news/1588694/islamic-finance-market-growth-faced-slow-2009? This is more evidence that runs counter to the propaganda from the Shariah Finance industry claiming immunity from the economic [...]
More on AAOIFI’s moves to seize control of Shariah Finance
On January 27, 2010 · In AAOIFI, Islamic Economics, Islamic Finance, Sharia Compliant, Shariah Boards, Shariah Finance
SFW has published a half dozen articles on the shadowy financial jihadist organization AAOIFI (Accounting and Auditing Organisation for Islamic Financial Institutions) and its growing influence in the world of Shariah Finance. http://www.shariahfinancewatch.org/blog/category/aaoifi/ AAOIFI employs notoriously hateful Shariah scholar Mufti Taqi Usmani and counts representatives of the central banks of known terrorist sponsors Iran, Sudan [...]
Dubai Debts Prompt Review of Shariah Finance
On January 14, 2010 · In Abu Dhabi, Debt Bonds, Defaults, Dubai, Economic Crisis, Islamic Bonds, Islamic Economics, Islamic Finance, Shariah Bonds, Shariah Finance, SUKUK
SFW has long maintained–and pointed out–that Shariah-Compliant Finance is in now way immune to market and economic forces and thus cannot provide a safe haven in the event of economic or financial crisis. We point this out because so many financial jihadists routinely commit fraud by claiming that Shariah Finance is protected by the principles [...]
Islamic Finance and Women
On January 14, 2010 · In Islamic Economics, Islamic Finance, Islamic Law, Shariah Finance, Shariah Law, Women's Rights Under Shariah Law
The article linked below is so incredibly preposterous that we hardly know where to begin to comment on it. It begins by stating that “Islam honors women…enhancing their standing [in society] and granting them their full unabridged rights.” The authors must be talking about some version of Islam practiced on the planet Venus. Nevertheless, the [...]
Money Fleeing Malaysia
On January 12, 2010 · In Defaults, Islamic Banking, Islamic Bonds, Islamic Economics, Islamic Finance, Kuala Lumpur, Malaysia, Sharia Products, Shariah Bonds, Shariah Finance, SUKUK
Here on Shariah Finance Watch we have documented that Malaysia is ground zero in the Pacific Rim for Shariah Finance: http://www.shariahfinancewatch.org/blog/category/malaysia/ Almost all of the financial news out of the Malaysian capital of Kuala Lumpur over the past year has been centered around “Islamic” finance and banking. The country’s prime minister and other cabinet members [...]
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