Islamic Charities: Facing facts (An Australian View from SFW Contributor Dave Clark)
On February 20, 2012 · In Australia, Islamic charities, Jihad, Terror, Terror Funding, terrorism, Zakat
Islamic Charities: Facing facts by Dave Clark, Q Society Vice President for Islamic Finance and Islamic Charities On 10 February this year, Nicola Roxon MP, Attorney General and Jason Clare MP, Minister for Home Affairs and Minister for Justice issued a media release titled “Reports Highlight Risks of Money Laundering and Terrorism Financing“ along with three reports [...]
According to an article on the Muslim Brotherhood’s own web site, the use of zakat as a means to redistribute wealth will be a prominent feature of the new government’s taxation and welfare policies. What the article is careful to avoid, however, is the fact that zakat is also used to fund Jihad, referred to [...]
Regular readers of SFW know of the concerns over zakat, a form of tithing in Islam that is at least partially authorized–and in some cases mandated–to go to those waging jihad for allah. Our latest essay on this subject can be found here: http://www.shariahfinancewatch.org/blog/2011/10/17/correcting-the-new-misinformation-on-islamic-charities-funding-jihadist-terrorism/ Obviously, this only tells half the story. The other side of [...]
Correcting The New Misinformation on Islamic Charities Funding Jihadist Terrorism
On October 17, 2011 · In Abdurahman Alamoudi, Abu Sayyaf, Al Qaeda, Al Shabaab, Bin Laden, Hamas, Hezbollah, Holy Land Foundation, Islam, Islamic charities, Islamic Development Bank, Islamic Law, Islamic Relief, Jemaah Islamiyah, Jihad, Jihadist Groups/Individuals, KindHearts, Lashkar e Taiba, Money Laundering, Muslim Brotherhood, Pakistan, Phillipines, Qaradawi, Salafism, Saudi Arabia, Sharia Compliant, Shariah Law, Somalia, Taliban, Terror, Terror Funding, terrorism, Wahhabism, Zakat
The Guardian in the UK has come out with an article (“Counterterrorism laws taking their toll on humanitarian action”) critical of US counterterrorism efforts that are designed to prevent the funneling of money to Jihadist terrorist groups, especially in Gaza and Somalia, two hotbeds of Jihadist terrorist activity. When ever we see misguided and ignorant [...]
Two Minnesota women, Amina Farah Ali and Hawo Mohamed Hassan, accused of funneling money to a terror group in Somalia, talked about collecting money for al-Shabab, supporting fighters instead of other charities and the possibility that FBI was listening in on their conversations, according to hours of recorded phone calls played for jurors. The calls include recordings [...]
Affin Investment Bank in Malaysia has distributed just over $800,000 in zakat funds to the “armed forces.” One of the acceptable destinations for zakat funds according to Shariah is to those fighting in the way of Allah. Usually this is meant to apply to irregular combatants not on the army roster, but in this case, [...]
Global Finance Magazine honors Genocide’s Bankers with an Award
On October 10, 2011 · In Hamas, Islamic Banking, Islamic charities, Shariah Banking, Sudan, Terror Funding, Zakat
From the “what the heck were they thinking?” category comes the news that the New York-based Global Finance Magazine has bestowed an honor on the Islamic Republic of Sudan’s Al Salam Bank. The award was “Best Bank in Sudan, ” not a significant one to be sure, but there are plenty of reasons why Global [...]
Money Jihad: Hamas still raising money in Sudan
On October 8, 2011 · In Hamas, Islamic charities, Sudan, Terror, Terror Funding, terrorism, Uncategorized, Zakat
The State Department’s new “2010″ report on global terrorism revealed that “Sudanese officials continued to view Hamas members as representatives of the Palestinian Authority. Hamas members conducted fundraising in Sudan. Sudan hosts “centers for raising funds and Islamic Social Unions (Marakiz li-Jam’ al-Tabarru’at wa-Ittihadat Ijtima’iyyah Islamiyya)” and “Pro-HAMAS financial activity in Africa is centred in Sudan through the [...]
Flashback: Anwar Al-Awlaki’s 44 Ways of Supporting Jihad
On October 8, 2011 · In Al Qaeda, Al-Awlaki, Islamic charities, Jihad, Jihadist Groups/Individuals, Terror, Terror Funding, terrorism, Zakat
Now that Anwar Al-Awlaki has been killed by US forces, we thought we’d commemorate the event by reposting his famous manifesto, “44 Ways of Supporting Jihad.” Not surprisingly, 3 through 9 of the 44 ways were all about “financial jihad.” 3. Jihad with your wealth 4. Fundraising for the mujahideen 5. Financing a Mujahid 6. [...]
Money Jihad blog has posted two important articles over the past week regarding the Shariah-compliant alternative to conventional financing known as murabaha. One thing to remember about murabaha is that, almost invariably, these arrangements cost the borrower more than conventional financing would. Money Jihad compares murabaha to “rent-to-own” deals in the US. We think the comparison is [...]
Jonathan Schanzer: Saudi Arabia’s Terror Finance Problem
On September 10, 2011 · In Al Qaeda, Islamic charities, Jihad, Jihadist Groups/Individuals, Kuwait, Qatar, Saudi Arabia, Terror, Terror Funding, terrorism, Wahhabism, Zakat
An excellent article from noted expert Jonathan Schanzer on Saudi Arabia’s citizens’ support for Jihad…Keep in mind that this is the same Saudi citizenry heavily involved in Shariah Finance, yet we are expected to believe that there is no threat of Jihadist terrorism benefiting from Shariah Finance… The Saudis produce, thanks to proceeds from the [...]
3 Boston Islamic charity leaders convicted for support of jihad
On September 6, 2011 · In Al Qaeda, Islamic charities, Jihad, Money Laundering, Terror Funding, Zakat
A federal appeals court on Thursday overturned the acquittal of a Libyan man and two associates who were accused of conspiring to dupe the U.S. government into granting tax-exempt status to a defunct Muslim charity by hiding its pro-jihad activities. The appeals court reinstated the jury’s guilty verdict against Libya’s Emadeddin Muntasser together with Samir [...]
Wikileaks: Private Saudi Donations Fund Jihad in Philippines
On September 6, 2011 · In Abu Sayyaf, Jemaah Islamiyah, Jihad, Jihadist Groups/Individuals, Phillipines, Saudi Arabia, Terror, Terror Funding, terrorism, Wahhabism, Zakat
US diplomats openly acknowledged in the secret cables leaked by Wikileaks the role Saudi Arabia was playing in funding the Islamic groups in the Philippines and declared that it must be stopped. This is a common theme around the world. Saudis fund Jihad with “private” donations (often from members of the royal family) while the [...]
Here we go again: Zakat goes to fighters
On August 25, 2011 · In Islamic charities, Islamic Law, Jihad, Sharia Compliant, Shariah Law, Terror Funding, Zakat
One of our favorite pastimes here at SFW is to uncover internet articles and postings which reveal the true nature of zakat–the uses of zakat that the financial jihadists would just as soon not have us kafirs learn about. We have found numerous references over the years to zakat being used to fund Jihadists. Here [...]
Another Apologist Attempts to Rewrite History for Cat Stevens
On August 11, 2011 · In Al Qaeda, Bin Laden, Fatwa, Islamic charities, ISRA, Jihad, Qaradawi, Sudan, Terror, Terror Funding, terrorism, Uncategorized, Zakat
Most of SFW’s readers probably know who Cat Stevens is. He was a folk singer who converted to Islam in the late 1970s and changed his name to Yusuf Islam. At the time of his conversion, he swore off his music and devoted himself to his new-found faith. A few years later he found himself [...]
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 [...]
Kenyan Tourism Minister Accused of Funding Jihad
On August 8, 2011 · In Al Shabaab, Islam, Islamic charities, Islamic Law, Jihad, Jihadist Groups/Individuals, Kenya, Somalia, Terror, Terror Funding, terrorism, Zakat
Najib Balala is the Minister of Tourism in Kenya and, by all accounts, a gregarious, ambitious public official. He was educated in a US university in Africa and he professes to be a devout Muslim. Recently, he has come under fire for possible financial arrangements in which donations to a controversial mosque may be finding [...]
Al Qaeda’s Financial Ties to Iran Exposed
On August 8, 2011 · In Al Qaeda, Iran, Islamic charities, Jihad, Jihadist Groups/Individuals, Kuwait, Terror, Terror Funding, terrorism, Zakat
During the 2008 presidential campaign, the Obama campaign belittled Senator John McCain for alleging ties between Iran (which is Shiite-ruled) and Al Qaeda (which is a Salafist Sunni organization). At the time, your SFW editor wrote an article for National Review on the subject: http://www.nationalreview.com/articles/223992/iranian-entanglements/christopher-w-holton Now, more than three years later, Obama’s US Treasury Department [...]
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 [...]
Al-Baraka Banking Group, the leading Islamic banking group based in Bahrain, announced the organization of the 32nd session of its annual symposium on Islamic economic system on Aug. 10-11 at the Jeddah Hilton. The symposium, to be held under the chairmanship of Saleh Kamel, chairman of Al-Baraka Banking Group, will discuss a number of emerging [...]
Islamic parties in Kurdistan are controversially claiming the right to receive alms, known aszakat, during the holy month of Ramadan as they struggle to raise revenue. They claim they can receive alms because of their Islamic ideology, while critics say political parties are not religiously entitled to monetary contributions from the public. Musa Habib, a Kurdistan [...]
A government official in Malaysia has stated that businesses and individuals should pay zakat, even though Malaysia has no laws requiring that they do so. There is definite basis in this admonishment in Shariah law. Consider this quote from “Understanding Islamic Law (Shari’a)” by Raj Bhala, published by LexisNexis and used as a text in [...]
Yesterday explosions rocked Mumbai, India, killing more than a score of innocent people. This is the latest in a series of attacks that have struck that city over the past two decades. There certainly is an economic cost to Jihadist terrorism and the Wall Street Journal points that out in a column published today… India’s [...]
Another former Gitmo resident turned Al Qaeda fundraiser
On July 5, 2011 · In Al Qaeda, Islamic charities, Jihad, Saudi Arabia, Terror, Terror Funding, terrorism, Yemen, Zakat
The good folks at Money Jihad blog came across a story we overlooked last month and, because it involves financing for Al Qaeda and a former Guantanamo prisoner, we felt it important to post it here. Hat tip to Money Jihad via Miami Herald… The State Department Thursday added a freed Guantánamo detainee to its [...]
The good folks over at Jihad Watch have posted a very important story about the Saudi-controlled International Islamic Relief Organization, a terrorist NGO that funds Al Qaeda in Pakistan: From Jihad Watch: We consistently see the juxtaposition of armed jihad and social services in groups like Hamas and Hizballah, and other organizations in the Muslim world, [...]
Accountants play a vital role in the world of finance. They are supposed to be the unbiased analysts and observers of data who help keep the rest of us from making egregious mistakes either based on emotion or because we simply lack the sophistication to decipher the numbers to fully understand a financial arrangement. Unfortunately, [...]
Over at Money Jihad blog, they came across a direct solicitation from an Ugandan Islamic Charity asking for money to “fight Christians…” http://moneyjihad.wordpress.com/2011/06/20/muslim-charity-asks-us-for-money-to-help-to-fight-christians/
The reason SCF is presented to the world as an “ethical” or “socially responsible” vehicle is not because Islamic Finance limits usury through interest-free products or provides bankers with halal ways and means to profit. The reason SCF is considered socially responsible is because it is a wealth redistribution scheme. One fortieth or 2.5% of the funds are [...]
One concern about Shariah Finance is the whole shadowy practice of “purification,” in which “ill-gotten gain” is donated to Muslim charities selected by Shariah advisors to literally “purify” a fund or financial institution that may have garnered income or gains from some haram (forbidden) source. There is obviously a moral hazard here with the potential [...]
Maybank Islamic today distributed a total amount of RM 7.07 million to 15 State Zakat centers as well as to charity bodies and organizations in Malaysia, an increase of RM2.06 million compared to the financial year of 2009. The total amount of zakat is derived from the profits earned by Maybank Islamic Berhad for the [...]
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