Outgoing Iranian President Mahmoud Ahmadinejad was swarmed by a group of citizens protesting the loss of their savings in the Tabriz Nasr Secured Loans Fund. Local websites report that the crowd stopped the president’s vehicle and chanted slogans, demanding government intervention in their situation. The report indicates that one of the protesters was briefly “entangled” […]
Trouble in Shariah Finance Paradise?
As we have reported multiple times over the years, Iran dominates the world of Shariah-compliant finance. In fact, according to the UK-based publication The Banker, Iran has more Shariah-compliant assets under management and in Shariah-compliant financial institutions than any other nation on earth. Furthermore, the top Shariah-compliant financial institutions in the world are Iranian state-controlled banks. Iran […]
For at least the third time, Iranian President Mahmoud Ahmadinejad has launched a verbal broadside at capitalism, this time blaming it for the economic crisis in the West, the current trouble in Europe in particular. Previously, in September and November of 2009, Ahmadinejad was critical of capitalism: https://shariahfinancewatch.org/2009/09/25/ahmadinejad-criticizes-capitalism/ https://shariahfinancewatch.org/2009/11/12/iranian-president-mahmoud-ahmadinejad-blasts-free-market-capitalism-at-oic-economic-conference/ Ahmadinejad’s repeated attacks on capitalism are […]
No doubt SFW readers are very aware that Iran is increasingly finding itself isolated economically and financially due to its nuclear weapons program. If not for Russia, Red China, India, South Africa and a few other nations, Iran would be completely isolated (sarcasm intended unfortunately). Iran is currently looking to raise capital to fund its […]
14 More Arrested in Iranian Bank Fraud Case
In recent weeks, we’ve been following the story of the bank fraud scandal that could embroil Iran’s president. This is a significant scandal for those of us who follow Shariah Banking because Iran reports that all of the banks within its borders are Shariah compliant. The financial jihadists have been selling Shariah compliance to the […]
Last week we posted a link to an article about a brewing banking scandal in which Iranian President Ahmadinejad has been implicated… https://shariahfinancewatch.org/2011/10/06/huge-financial-scam-weakens-irans-ahmadinejad/ CNN has an article with some additional details that we did not see covered elsewhere: A commission of the Majlis have decided to order an investigation of Ahmadinejad’s office to look further […]
Huge financial scam weakens Iran’s Ahmadinejad
According to the authoritative British periodical The Banker, Iran dominates the world of Shariah-Compliant Finance. The two largest Shariah-Compliant financial institutions in the world are Iranian state-controlled banks. Moreover, according to The Banker, Iran is the only nation on earth that claims that 100% of the financial assets in its banks and other institutions […]
An Iranian businessman, Amir-Mansour Aria, has been accused of defrauding the world’s second largest Shariah-compliant bank out of $2.6 billion. SFW readers may recall us mentioning the bank, Bank Saderat, from time to time: https://shariahfinancewatch.org/2009/08/12/shariah-compliant-finance-helps-terrorist-banks-in-iran/ Bank Saderat is second only to Iran’s Bank Melli on the list of largest Shariah-compliant financial institutions in the world. Iranian […]
It is far from comforting when a supposed “ally” in the war on terror (Pakistan) sends its president to go visit the world’s foremost state sponsor of Jihadist terrorism (Iran) and he suggests that the two countries forge closer economic ties…This is especially disturbing given that Pakistan already produces nuclear weapons and Iran desires them… […]
From time to time, we here at SFW have been critical of The Economist. In the past The Economist has run what amount to advertorials for Shariah-Compliant Finance and even their more balanced articles have ignored the real concerns surrounding Shariah Finance. Then there was the time that The Economist lashed out at those Americans […]
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 […]
Iranian President Mahmoud Ahmadinejad blasts free market capitalism at OIC economic conference
Iranian President Mahmoud Ahmadinejad was a featured speaker at the Organization of the Islamic Conference economic summit about which we reported on 9 November: https://shariahfinancewatch.org/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 […]
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