We thought that SFW readers would be interested in this article from Islamist Watch, which indicates that Best Buy stores have essentially partnered with CAIR. CAIR, of course, is a Muslim Brotherhood front organization and was named as an unindicted co-conspirator in the Holy Land Foundation trial, the largest successful terrorism financing prosecution in US [...]
The Middle East Forum’s Middle East Quarterly has published an excellent, in-depth look at Islamic bonds (sukuk), explaining how they work and the differences between sukuk and conventional bonds. Sukuk have fast become the instrument of choice in the world of Shariah-compliant finance, having come a long way since 2009 when Mufti Taqi Usmani, one [...]
As regular readers of SFW know, we focus a great deal on the many Islamic charities which have been implicated in the funding of Jihadist terrorism. This activity does not occur by accident. On the contrary, it has a doctrinal basis in Islamic law, as we have detailed many times in the past: http://www.shariahfinancewatch.org/blog/category/islamic-charities/ The [...]
ICNA: Zakat for Jihad
On April 15, 2012 · In Holy Land Foundation, ICNA, IIIT, Islam, Islamic Law, Jihad, Jihadist Groups/Individuals, Shariah Law, Terror Funding, USA, Zakat
The Islamic Circle of North America (ICNA) was identified as a Muslim Brotherhood organization in the Holy Land Foundation prosecution, the largest successful terrorism financing prosecution in US history. Recently, ICNA announced that they are embarking upon a $3 million propaganda campaign to promote Shariah in America: http://www.centerforsecuritypolicy.org/p18956.xml?genre_id= ICNA has a division called ICNA Relief, [...]
Over on the Gates of Vienna blog, the authors have pointed out a passage from Reliance of the Traveler that is key to the connection between zakat and the funding of Jihadist terrorism. Regular readers of SFW may recall that Reliance of the Traveler is one of the world’s most widely read manuals of Shariah [...]
A Woodbridge, Virginia man originally from Pakistan has been sentenced to 12 years in Federal prison for providing material support, including attempts at fundraising, for the Pakistani Jihadist terrorist organization, Lashkar e Taiba. http://www.foxnews.com/us/2012/04/13/va-man-gets-12-years-for-aiding-terrorists833779/
In the Philippines, Abu Sayyaf Jihadist terrorists are running out of money and the war-weary residents of the island of Mindanao (which Abu Sayyaf is trying to seize to impose Shariah) aren’t supporting them, so, according to a Philippine Air Force General, the terrorists are once again turning to kidnapping and hostage taking to raise [...]
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 [...]
The UAE has detained 6 members of the Muslim Brotherhood, who it says have links to entities identified by the UN as terrorism financing operations… The United Arab Emirates on Tuesday detained six Islamists whose citizenship had been revoked for alleged links to groups that fund terrorists, their lawyer said. The six men “were summoned [...]
Terrorist funder gets incredibly light sentence from federal judge
On April 13, 2012 · In Al Shabaab, Jihad, Jihadist Groups/Individuals, Kenya, Somalia, Terror Funding
Here is an example of an irresponsible federal judge if there ever was one. Abdi Mahdi Hussein attempted to help Mohamud Abdi Yusuf send $21,000 to the Jihadist terrorist group Al Shabaab. Now he says (of course) that he had no idea where the money was supposed to go, and besides it didn’t get there. U.S. [...]
CRY US A RIVER!!! A Rochester woman convicted of raising money for the terrorist group al-Shabaab is asking a federal judge to let her out of jail while she awaits sentencing. An attorney for Amina Farah Ali said in a motion that it has been six months since the conviction and because of various delays, [...]
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 [...]
UAE-based real estate developer Nakheel launched a new luxury project on the Palm Jumeirah yesterday, its first major residential development since completing a massive restructuring process. Nakheel, which also said it plans to issue the second tranche of its Dh4.8 billion sukuk by the end of April, has appointed Dubai Civil Engineering as the main [...]
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 report below is cause for concern. Philippine officials have fallen into the trap of dealing with the Islamic Development Bank (IDB) based out of Saudi Arabia. IDB is a gargantuan institution dominated by Saudi Arabia and based out of Jeddah, which is the most important non-holy city in that country, much more important than [...]
Birmingham-based Islamic Bank of Britain has launched a new Sharia-compliant electronic International Money Transfer Service. The service, the first of its kind, operates from the bank’s branch in Coventry Road, Small Heath. The bank said it guaranteed all the funds would be handled and transferred in the proper manner. The transfer service is aimed at [...]
Al-Haqiqah in Arabic, a web site published by the opposition France-based Syrian National Council for Truth, Justice, and Reconciliation, on 9 April publishes a 1,300-word “exclusive” report saying that Al-Faruq Battalion, which is affiliated with the opposition Free Syrian Army (FSA), is imposing Jizyah (an extra tax imposed on non-Muslims living under Muslim rule) on [...]
A delegation of the Muslim Brotherhood recently went on a whirlwind tour of US governmental and private institutions and individuals. One of the organizations that the Ikhwan met with was the US Chamber of Commerce. If you are surprised, you shouldn’t be. The US Chamber of Commerce has a history of appeasement and outreach to [...]
Thai Jihadist Bombers Get Big Payout
On April 10, 2012 · In Jihad, Jihadist Groups/Individuals, Malaysia, Terror, Terror Funding, terrorism, Thailand
H/T Money Jihad blog Back on 31 March, Jihadist terrorists launched a coordinated bomb blitz in southern Thailand in a major escalation of the ongoing Islamic insurgency there: http://terrortrendsbulletin.com/2012/03/31/the-jihad-in-thailand-escalates-sharply/ The Bangkok Post has published a report that indicates that the Thai Jihadists who successfully conduct such attacks head to the Malaysian border for big bonuses. [...]
HSBC continues to be the Western leader in facilitating the financial jihad. We post this as a reminder to Western consumers and investors. When you decide where to bank or where to get credit cards, keep in mind what HSBC is up to… http://www.tradearabia.com/news/BANK_215598.html
Evidently there aren’t enough high quality sukuk to go around…
On April 10, 2012 · In Indonesia, Islamic Bonds, Islamic Finance, Malaysia, Shariah Bonds, Shariah Finance, SUKUK
Malaysian and Indonesian pension funds, which have a combined $192 billion of assets, say plans to increase holdings of Islamic bonds are being hampered by a shortage of investment-grade sukuk. Yesterday we pointed out that Yemen had floated a sukuk with a projected 1-year return of between 15% and 18%, a sure sign of risk-a [...]
Zakat goes to all sorts of purposes. One of them is to get poor, destitute non-Muslims to convert to Islam, as explained in the post linked below on Money Jihad blog. The gist of this is that when a Western financial institution facilitates Shariah Finance it is subsidizing the promotion of Islam and Shariah. That [...]
Maybank Islamic Bhd of Malaysia has unveiled Maybank Islamic Ikhwan Visa Infinite, a credit card designed for affluent Muslims. This certainly raises some eyebrows in the West since “Ikhwan” (Arabic for “brothers”) is the word used as the popular name for the Muslim Brotherhood, the political wing of the global Islamic insurgency and the organization [...]
In the midst of a vicious insurgency with Al Qaeda in which some members of the Yemeni government are thought to be siding with the Jihadists, the Yemeni central bank has floated its first sukuk… Note that this one-year sukuk is projected to have a return of between 15% and 18%. Such a return is [...]
Imams yesterday expressed their concern over the poor knowledge the Muslim community in the country has for zakat (tithe) and reminded Muslims of their Islamic obligation by paying the zakat harta once they meet the requirements. It is clear that the knowledge of the muslim community about the zakat laws is still relatively low, said [...]
Saudi Arabia has overtaken the UAE to become the largest Sukuk (Islamic bond) issuer in the Gulf region, raising $6.4 billion in Q1 2012, compared to issuance of $1.9 billion by the UAE. Malaysia accounted for 71 per cent of total issuance and was the top Sukuk issuer with $31 billion followed by Saudi Arabia [...]
Iran’s President Mahmoud Ahmadinejad said on Saturday the country’s sovereign wealth fund could reach $55 billion by March next year if oil prices kept high. Iran earned $100 billion in oil revenue in 2011. Iran is both the world leader in Shariah Compliant Finance and the world’s most active state sponsor of Jihadist terrorism. http://www.ynetnews.com/articles/0,7340,L-4213542,00.html [...]
Judson Phillips over on Tea Party Nation has an important story up today. A U.S. court found Iran responsible for the 1983 Beirut Marine Barracks bombing that killed 241 Marines, soldiers and sailors. Iranian assets are frozen in the U.S. and the surviving families of those U.S. servicemen deserve to be compensated using those assets. [...]
Two Somali twin brothers have been arrested in Great Britain and charged with trying to raise money for their third brother to commit acts of terrorism in their homeland of Somalia. Note that one of the twins works for a “security” firm. The other is unemployed, no doubt living off the public dole, as so [...]
The US has offered a $10 million reward for the capture of Pakistani Jihadist Hafiz Muhammad Saeed. Saeed is associated with the terrorist group Lashkar e Taiba, the organization that carried out the horrific Mumbai terrorist attacks in India back in 2008. Long-time readers may recall that donations to Islamic charities in Pakistan in the [...]
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