Islamic Charities Revealed: Bankrollers of Terror
On March 16, 2013 · In Al Qaeda, Al-Haramain Islamic Foundation (AHIF), Ansar al-Sharia Tunisia (AST), Hamas, Islamic charities, Jemaah Islamiyah, Jihad, Jihadist Groups/Individuals, Kuwait, Lashkar e Taiba, Qatar, Qatar Charitable Society, Qatar Charity, Qatar Islamic Society, Revival of Islamic Heritage Society (RIHS), Saudi Arabia, Syria, Syrian Islamic Front (SIF), Terror Funding, Tunisia, Turkey, Turkish Humanitarian Relief Foundation (IHH), Zakat
Foreign Policy magazine recently published an excellent article on the role of Islamic charities in funding Jihadist terrorism, something we’ve been writing about here on SFW for several years now. Authors Daveed Gartenstein-Ross and Aaron Y. Zelin detail in the article how Islamic NGOs (Non-Governmental Organizations) are bankrolling terrorist organizations under the guise of “aid.” [...]
Kuwaiti Turkish Banking Firm Aims to Become First Shariah Bank in Germany
On November 30, 2012 · In Creeping Shariah, Germany, Islamic Banking, Kuwait, Shariah Banking, Turkey
Kuwait Finance House’s Turkish operation, Kuveyt Turk, has applied for a German banking licence and aims to become the first Shariah-compliant bank in Germany. The bank says that if their German venture is successful, they will expand to other European countries. Note that the bank aims to pursue non-Muslim depositors in Germany… Kuveyt Turk aims [...]
Iran is one of the world leaders in Shariah-compliant finance. Iran is also the world leader in Jihadist terrorism and the proliferation of weapons of mass destruction. This is, of course, no coincidence. Iran has been targeted by international economic sanctions due to its uranium enrichment program and its support for Jihadist terrorism. What many [...]
Turkey will soon issue a lira-denominated sukuk (Islamic bond), on the heels of its dollar-denominated sovereign sukuk, which was facilitated by HSBC and CitiGroup. http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=337737
Shariah Finance to Establish Foothold in Germany
On August 31, 2012 · In Creeping Shariah, Germany, Islamic Banking, Islamic Finance, Islamization, Shariah Banking, Shariah Finance, Turkey
…with the dutiful help of Ernst & Young and Norton Rose law firm… Turkey’s Kuveyt Turk investment fund, which operates under the principles of Islamic sharia law, plans to open its first German branch in October. The first branch in Germany will be opened in Frankfurt with the assistance of Ernst & Young and the [...]
Humanitarian Relief Foundation (İHH) President Bülent Yıldırım is being investigated for allegedly financing al-Qaeda through his organization… http://www.hurriyetdailynews.com/head-of-conservative-ngo-under-probe-for-financing-al-qaeda-.aspx?pageID=238&nID=23245&NewsCatID=338#.T9rozaZuHgk.twitter
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 [...]
Turkey: Fitch rates upcoming Asya sukuk as junk
On November 25, 2011 · In Fitch, Islamic Banking, Islamic Bonds, Shariah Banking, Shariah Bonds, Turkey
Fitch Ratings has assigned Asya Katilim Bankasi A.S.’s (Asya) forthcoming Sukuk issue a ‘B+(exp)’ expected rating. The final rating is contingent upon receipt of final documentation conforming to information already received by Fitch. Asya was incorporated in Turkey in 1996 as a financial institution to provide interest-free banking services and trades on the Istanbul stock [...]
Victims of the discriminatory wealth tax, who are all non-Muslim minorities, demand an apology from the state 69 years after legislation was passed by Parliament on Nov. 11, 1942, requiring non-Muslims to pay a much higher rate of tax to the state. http://www.todayszaman.com/news-262278-non-muslim-minorities-protest-wealth-tax-expect-apology.html This tax sounds an awful lot like the jizya, which is a [...]
Islamic bond (sukuk) sales from Turkey are picking up pace after the government changed its tax law. The government passed a law in February reducing the withholding tax on sukuk to 10 percent and exempted sales from value-added, stamp and corporate taxes. Legislation two months later exempted sukuk certificates with a minimum tenure of five [...]
Shariah Finance Sets Sights on Turkey
On October 4, 2011 · In Islamic Banking, Islamic Bonds, Islamic Finance, Shariah Banking, Shariah Bonds, Shariah Finance, SUKUK, Turkey
One of the few overwhelmingly Islamic nations that has so far not embraced Shariah-Compliant Finance is Turkey. Despite efforts by Islamist elements in the country, only 5% of banking assets in Turkey were Shariah-compliant at the end of 2010. So it seems curious in a way that the Islamic media would proclaim that Shariah finance [...]
Sharia Islamic index added to Istanbul Stock Exchange
On January 21, 2011 · In Islamic Finance, Islamic Index, Islamization, Sharia Compliant, Shariah Finance, Stock Exchanges, Turkey
Hat tip to Andrew for this report… The Istanbul Stock Exchange (ISE) launched a participation index earlier this month to highlight and track 30 Sharia-compliant companies in an effort to further develop the Islamic finance sector. Some view the Islamic index with apprehension, others as an opportunity. Sharia Islamic Index is the first such index [...]
Citigroup Inc. is looking to expand its Islamic bond sales, with an issue for a Turkish bank. The new decision to boost the sales of Sukuk, the so-called ‘Islamic bonds’, was made after issuing $100 million for Kuveyt Turk Katilim Bankasi AS. Hulusi Horozoglu, director of global Islamic banking at Citigroup said in an email [...]
Turkey’s first Sukuk offer oversubscribed
On August 25, 2010 · In Islamic Bonds, Islamic Finance, Kuwait, Shariah Bonds, Shariah Finance, SUKUK, Turkey
Turkey’s first Islamic bond offering, from lender Kuveyt Turk, fetched a yield of 5.25 percent on Tuesday and was oversubscribed by investors. The sukuk, which was primarily bought by financial institutions, is the first sukuk ever out of Turkey and the first bank sukuk originating from Europe. In Turkey, the ruling AK Party has been [...]
Fox’s Evansky Details Terror Ties of Turkish Charity in Gaza Operation
On June 1, 2010 · In Hamas, Islamic charities, Israel, Jihad, Palestinians, Qaradawi, Terror, Terror Funding, terrorism, Turkey
Ben Evansky of Fox News has penned a very good and extremely timely report on the Foundation for Human Rights and Humanitarian Relief (IHH), an Islamic charity involved in the so-called “relief” mission (read infiltration operation) into the Gaza Strip from the Mediterranean Sea. The first clue that IHH is a bad organization comes from [...]
As we reported here on October 27th and November 2nd of 2009, the first Shariah-Compliant bank will soon open in Germany. http://www.shariahfinancewatch.org/blog/category/germany/ Germany’s first Islamic bank, a unit of Kuveyt Turk Bank of Turkey, is to open its doors in early 2010 in the southern city of Mannheim by the end of March. Germany has [...]
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 [...]
Turkey’s Asya Bank Seeks Malaysia’s Cooperation In Islamic Finance
On November 2, 2009 · In Islamic Banking, Islamic Finance, Malaysia, Shariah Banking, Shariah Finance, Turkey
One of Turkey’s biggest financial institutions, the Asya Bank, has indicated an interest in forging cooperation with Islamic banks in Malaysia, namely Maybank Bhd and CIMB Bank. The aim is to establish an Islamic Bank in Turkey. http://www.bernama.com/bernama/v5/newsbusiness.php?id=451642
We’re not sure why the article linked below was written. It discusses how much money Turks spent using credit cards during Ramadan (Turkey is 98% Muslim). We think this is significant only in that the use of credit cards is supposed to be haram, or forbidden, under Shariah because Muslims are not supposed to pay [...]
Islamic finance: Japanomics — Turkeynomics? With a population of 60,000 Muslims and close to 127.5 million Shinto and Budhist adherents, Japan hardly can be described as a Muslim country. With the complete lack of domestic market, access to Islamic finance therefore is a business opportunity only and it would be shunned if it would [...]
Originally Published by ….and kudos to….http://gatesofvienna.blogspot.com/2008/08/eu-islam-and-turkey.html The EU, Islam, and Turkey How do Islam and a full EU membership of Turkey contribute to the European social model? By its own definition, from the inside point of view, the EU is a community of values, an area of freedom, security and law, as well as a [...]
http://golgumbad.com/coin_main.jpg Monday, 18 August 2008 Islamic banking is in its golden period of growth Dr Jasim Ali (Gulf News) Last week Moody’s Investors Services published an exceptional report about Islamic banking industry. Entitled, “Frequently Asked Questions: Notable Trends in Global Islamic Finance”, the report revealed some valuable insights into the potential of Islamic banking. [...]
http://cache.daylife.com/imageserve/04cnaBee5W6ei/340x.jpg The Islamic finance industry’s leading global event, the twice-yearly International Islamic Finance Forum next takes place in Turkey from 13th -17th October 2008 in Istanbul. The International Islamic Finance Forum is a global event attended by companies, organisations and individuals from across the world. International Islamic finance practitioners and the world’s leading Islamic [...]
http://tinyurl.com/5ltdsa Turkish women protesting shariah laws and headscrafs 2008 Ozer Aksoy *VP of The Turkish World Congress, 821 United Nations Plaza,New York,NY USA* Headscarf is more than a piece of cloth: Pinned carefully to conceal the neck, throat and hair, Islamic headscarf has become the unmistakable symbol of political Islam. This is why secular people [...]
Iranians, Egyptians, Turks: Contrasting Views on Sharia TO SEE MORE CLEARLY CLICK ON THE IMAGE http://www.gallup.com/poll/108724/Iranians-Egyptians-Turks-Contrasting-Views-Sharia.aspx A Gallup Poll conducted in Iran in 2007 shows a majority of residents think that Sharia, the body of Islamic rules and principles that [...]
The logic of Islamist terrorAmerican Consulate in Istanbul where the shootout took place. Saturday, July 12, 2008 Today’s militant Islamists violate the traditional rules of Islam to maximize their violence. Because their motivation comes from politics in the first place, not religion Mustafa AKYOL http://www.turkishd ailynews. com.tr/article. php?enewsid= 109670 Wednesday’s bloody shootout at the [...]
We still have some heros left. It is a sad state of affairs that that terrorism is so rampant. The world must wake up to Shariah and the state of terror is instillsThe US Consulate. Istanbul on a quiet day. An attack against the United States Consulate-General in Istanbul, Turkey, was thwarted on Wednesday [...]
Turkey By SONER CAGAPTAY FROM TODAY’S WALL STREET JOURNAL EUROPE July 8, 2008 The jailing of two retired Turkish generals over the weekend has heightened tensions between the government in Ankara and its critics. The generals are among 21 people whom police have detained over the past week, including a senior industrialist and a [...]
Islamic banks resist Central Bank sin Monday, July 7, 2008 SEFER YÜKSEL ISTANBUL – Referans The fundamental principle of Islamic banking is never to receive or yield interest. But the Central Bank’s monetary policy complicates this procedure in Turkey. The Turkish Central Bank yields a certain amount of interest to [...]
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