Comments for Shariah Finance Watch

Comment on Is Goldman Sachs’ Sukuk Shariah-Compliant? by American Delight

American Delight — Thu, 29 Dec 2011 01:56:24 +0000

Personally, I think Taqi Usmani criticized certain sukuk structures so that more complicated structures could be foisted on consumers by the banks that were paying Usmani’s salary..

Comment on Muslim Brotherhood: Compulsory Zakat to Have Major Role in Egypt by American Delight

American Delight — Thu, 29 Dec 2011 01:50:48 +0000

This is very bad news for the people of Egypt..

Comment on Lashkar-e-Taiba recruits among flood victims using front charity by American Delight

American Delight — Wed, 30 Nov 2011 12:24:48 +0000

Still waiting for a presidential candidate to come out clearly for supporting India as our ally in the region, and leaving our “friendship” with Pakistan behind.

Comment on Thomson Reuters and IdealRatings Offer Shariah Finance Index by American Delight

American Delight — Tue, 18 Oct 2011 21:14:45 +0000

Now this: http://www.halalstock.com/newsdetail.asp?Hid=5731

Comment on Malaysian Zakat Goes to Armed Forces by American Delight

American Delight — Fri, 14 Oct 2011 08:51:01 +0000

Corporate zakat is like corporate taxation. The costs are passed along to either shareholders (in lower returns), employees (in lower salaries), or customers (in higher prices).

Assuming Affin Investment Bank isn’t 100% percent Islamic and neither are its customers, from an Islamic standpoint Affin may consider a portion of their zakat to actually be jizya, in which case it’s proper for the payment to go to the regular military. At least that’s what their sharia advisors might be saying in private…

Comment on How Islamic Loans avoid Interest HSBC by Weekly word: musharaka « Money Jihad

Weekly word: musharaka « Money Jihad — Wed, 12 Oct 2011 08:49:04 +0000

[...] manages the asset). Because the profits and risks are shared, musharaka is considered the “purest,” or most truly Islamic, form of sharia finance. One source offers this definition: [...]

Comment on The Latest from Big Peace: Shariah Compliant Finance And How We Are Funding Jihad in the Heartland by American Delight

American Delight — Tue, 27 Sep 2011 11:00:19 +0000

Good stuff!

Comment on Videos from the Dead: Al Qaeda releases video on September 11th with anti-capitalism message from Osama Bin Laden by American Delight

American Delight — Wed, 14 Sep 2011 17:00:14 +0000

Ah, now it’s capitalism that’s destroying the U.S… But bin Laden’s followers had been saying that it was bin Laden himself who sent the U.S. on the road to ruin.

Which is it, al Qaeda? You can’t have it both ways.

Comment on US Department of Justice enters into secret settlement with Islamic Investment Company of the Gulf (IICG) by American Delight

American Delight — Fri, 26 Aug 2011 07:43:46 +0000

When Treasury fines a bank for BSA or other regulatory violations, they trumpet it from the rooftops. Guess it’s different rules for Islamic financial institutions, who get a settlement and it all gets hushed up.

We must stay on the look out for any news about “Dar al-Maal al-Islami” Trust (DMI), which, if I’m not mistaken, means “House of Islamic Money.”

Comment on Nigeria Masterweb Daily News: An Al-Qaeda Country Led By An Al-Qaeda President? by American Delight

American Delight — Tue, 02 Aug 2011 07:58:45 +0000

Where has Pakistan’s pioneering efforts at sharia finance and Islamic taxation landed them? In bed with Osama bin Laden and Mullah Omar, that’s where. And Nigeria wants to replicate the Pakistani model? No wonder emotions are running high…

Comment on Marine Colonel: Illegal antiquities trade funds terrorism by American Delight

American Delight — Sun, 10 Jul 2011 13:41:36 +0000

Maybe Bogdanos might have a point about needing a Director General of UNESCO who is more focused on this issue, but UNESCO’s mandate is pretty broad to begin with & they’re pretty far from ground ops in Iraq. I would prefer to see the Iraqi and Jordanian security forces get more training & crackdown more on cross-border smuggling activity. Meanwhile, a few Western countries could do a couple high-profile raids on auction houses. I doubt the UN would be an effective body for genuine action or leadership on this.

Comment on Buy These Beauty Products, Fund Hamas Terrorism by shariahfinancewatch

shariahfinancewatch — Tue, 05 Jul 2011 21:41:55 +0000

Yeah, we just need to make sure than none of those companies do business in Iran…:)

Comment on Buy These Beauty Products, Fund Hamas Terrorism by American Delight

American Delight — Sun, 03 Jul 2011 11:41:36 +0000

All right. Guess I’ll have to make do with products made by good old Johnson & Johnson or Proctor & Gamble.

Comment on Congressman Frank Wolf Asks Internal Revenue Service to Investigate CAIR by American Delight

American Delight — Thu, 30 Jun 2011 10:46:40 +0000

Mr. Shulman, I hope you bring your rubber gloves with you, because CAIR is going to need a very deep, probing audit into this matter.

Comment on Russia falling victim to financial jihad by American Delight

American Delight — Sun, 19 Jun 2011 13:27:50 +0000

Poor Russia. They think by supporting Islamism they can help take down the U.S. But they’re sowing the seeds of their own (re)destruction.

Comment on Iran Oil Minister: Iran to Issue Sukuk by American Delight

American Delight — Fri, 27 May 2011 12:57:43 +0000

They need a cash infusion, eh? They’re bonds won’t be worth the paper they’re printed on. They may be on top of a sea of oil, but they’ve probably already spent the revenues expected from the sukuk issuance several times over.

Comment on “Wealthy Arab fundraisers” visited Osama Bin Laden by shariahfinancewatch

shariahfinancewatch — Tue, 24 May 2011 14:30:58 +0000

Yep

Comment on “Wealthy Arab fundraisers” visited Osama Bin Laden by American Delight

American Delight — Tue, 17 May 2011 23:28:16 +0000

Had them over to his villa to try to charm the dinars out of their pockets, eh?

The reference to Arabs just reaffirms what we already knew–that the big money was and is originating from the Arab nations of the Gulf.

Comment on American Daily Herald: Got Zakat? Cretins In Control Will Comply by shariahfinancewatch

shariahfinancewatch — Sun, 15 May 2011 16:40:15 +0000

Oh. So they must have played a big role in what became his Cairo speech. Thanks. That’s good to know.

Comment on American Daily Herald: Got Zakat? Cretins In Control Will Comply by American Delight

American Delight — Sat, 14 May 2011 11:07:19 +0000

Ah, I remember them. Muslim Advocates, a group of lawyers, were co-signers of a letter to Pres. Obama demanding that he follow through on promises to ease so-called “restrictions” on zakat giving…

http://moneyjihad.wordpress.com/2010/04/14/muslims-demand-change-they-can-believe-in/

Comment on Money Jihad: Terror Donations Followed Laws of Allah by TaterSalad

TaterSalad — Fri, 08 Apr 2011 00:08:14 +0000

Bombshell……….Timothy McVeigh had help and they were “Muslims”.

http://www.examiner.com/conservative-in-national/bombshell-declassified-documents-show-okc-bombing-done-by-muslims?CID=examiner_alerts_article

Comment on A Primer on Islamic Bonds, dba Sukuk by wasif1

wasif1 — Mon, 04 Apr 2011 09:59:42 +0000

Hi, thanks for including my article’s link in your website. Really happy to see it

Comment on Fighting Violence Against Women in Iraqi Kurdistan-Women fighting Shariah by Alex Price

Alex Price — Sun, 27 Mar 2011 19:40:02 +0000

Female genital mutilation and honor killings seem almost unreal here in the west. So many women and girls are subject to such horrific conditions. There is an organization devoted to assisting girls in any circumstance. Vista Maria has been established to help these girls. http://www.vistamaria.org

Comment on Shariah Takes on many victims, one is women. Here is a group that is working out of Jordan to end violence against Women, Please check them out! by Alex Price

Alex Price — Sun, 27 Mar 2011 19:37:12 +0000

Women should have equal right no matter where the point of origin. Everywhere around the world, women a susceptible to violence and face a great controversy in the fight for equality. Vista Maria is a non-profit organization which offers itself as a resource to girls looking for some help. http://www.vistamaria.org

Comment on Islamic finance “expert” demonstrates ignorance of zakat by shariahfinancewatch

shariahfinancewatch — Tue, 08 Mar 2011 21:15:01 +0000

LOL

Comment on Islamic finance “expert” demonstrates ignorance of zakat by American Delight

American Delight — Mon, 07 Mar 2011 05:53:27 +0000

It must be nice to be an idiot like Sandwick and still get paid a six or seven figure salary by some unnamed Swiss firm.

Comment on The Bin Ladens Issue Big Sukuk by American Delight

American Delight — Tue, 22 Feb 2011 12:39:27 +0000

And now the Bin Ladens are getting involved in the nuclear industry. Nukes, sharia finance, and Islamism from the family that pretends to have disowned Osama bin Laden. What could go wrong?

Comment on Planned Bahrain sovereign sukuk delayed by unrest by American Delight

American Delight — Sat, 19 Feb 2011 14:00:33 +0000

Crossroads Arabia had a good backgrounder yesterday on Bahrain's protests at this link.

Comment on Saudi Financial Newspaper Fires Editor Over Zakat Tax Report by shariahfinancewatch

shariahfinancewatch — Tue, 15 Feb 2011 11:12:55 +0000

Indeed. But it does illustrate the total lack of independence of Saudi media.

Comment on Saudi Financial Newspaper Fires Editor Over Zakat Tax Report by American Delight

American Delight — Sun, 13 Feb 2011 09:28:34 +0000

Interesting report. I’m not sure why a commercial property tax would deter foreign investors since we can’t buy land in Saudi Arabia anyway, but I guess Saudi owners would pass along the tax hike to their tenants through higher rents. It’s also a little strange that the tax would be referred to as zakat since land holdings cannot count toward “zakatable” wealth in classical Islam (unless the sale of land results in profit that counts toward total taxable wealth). Maybe the Saudi clerics put a stop to it for that reason.

Comment on Britain’s National Employment Savings Trust to offer Shariah global equity fund by shariahfinancewatch

shariahfinancewatch — Sun, 30 Jan 2011 14:11:10 +0000

Very valid observation, especially given that key financial Jihadists in the West, including Sheikh DeLorenzo, have called for marketing Shariah Compliant Finance to non-Muslims and have even urged making up euphemisms such as “ethical investing” to replace references to Shariah in disclosure statements.

Comment on Britain’s National Employment Savings Trust to offer Shariah global equity fund by American Delight

American Delight — Tue, 25 Jan 2011 12:30:07 +0000

Sounds like some gullible future pensioners could get suckered into the idea that adding a sharia fund to their portfolio would help them “diversify” their retirement savings. They’ll probably be told that sharia is a “safe,” “conservative,” investment that will help retirees earn income & preserve wealth just like salesmen tell old people in America about annuities. Sigh.

So glad to see SFW up & running again!

Comment on Noriba Bank, a dedicated Islamic Bank owned by UBS is the largest Shariah Bank in the world. by UBS blacklists Urgence Palestine « Money Jihad

UBS blacklists Urgence Palestine « Money Jihad — Sun, 09 Jan 2011 12:25:08 +0000

[...] if UBS would also cease its Noriba Bank sharia financing operations, they could really be [...]

Comment on The Shariah-Compliant Finance Myth by Samantha2010

Samantha2010 — Thu, 23 Dec 2010 11:10:39 +0000

This finance is one of the alternatives for getting the funding that is needed. Invoices takes time before they are settled. Sometimes, the funds of a business is all tied up to their invoices. Invoices sometimes takes 30 to 60 days before they are paid. During the waiting period; the enterprise cannot spend or use the money. Invoices should be considered as assets, not always as liabilities. The concept of invoice factoring comes in here. releaseequity

Comment on And Now, Ladies and Gentlemen: Shariah Compliant Funding of Movies by American Delight

American Delight — Tue, 14 Dec 2010 10:19:55 +0000

Well, they may not have technically been Shariah financed, but two of Moustapha Akkad’s films were funded by Moumar Qaddafi in the 1970s (“The Message” and “Halloween”)… Not sure whether I’d watch a movie paid for by Shariah investments or by a Muslim dictator.

Comment on Three Muslims charged in Chicago Islamic-based Ponzi scheme by American Delight

American Delight — Fri, 19 Nov 2010 21:29:35 +0000

Take a look at this 20-year long tax scam, too..

Comment on Shariah adherents infiltrating Ohio state treasurer’s office? by shariahfinancewatch

shariahfinancewatch — Wed, 17 Nov 2010 11:47:48 +0000

No question about it.

Comment on Shariah adherents infiltrating Ohio state treasurer’s office? by American Delight

American Delight — Mon, 08 Nov 2010 22:12:50 +0000

Boyce and state Democrats are probably proud of this dangerous clown.

By the way, if Ahmad hired somebody from his own mosque as his receptionist, without posting the job on the state’s job website or something like that, you’d think he’d be in violation of state personnel regs…

Comment on Report: Canada May Issue Sukuk (Islamic Bonds) by American Delight

American Delight — Tue, 19 Oct 2010 22:11:20 +0000

Meanwhile HSBC continues to get in legal hot water over its AML compliance shortcomings. They seem to be big on business, growth, etc., with limited emphasis on compliance & safeguards.

Comment on Shariah Finance Watch is Back. Thank you to our readers for your patience. by shariahfinancewatch

shariahfinancewatch — Thu, 30 Sep 2010 09:52:10 +0000

Thank you sir. Keep up the good work.