posted by Christopher W. Holton A speakers’ meeting of the Global Forum on Islamic Economics, Finance and Banking held in Pakistan called for the promotion of Shariah-Compliant Finance around the globe for Muslim and non-Muslim countries as well. This was expressed as an effort to replace the current global banking system with one based upon […]
posted by Christopher W. Holton The Enforcement Directorate (ED) is poised to seize about 14 properties in Jammu and Kashmir belonging to Pakistan-based Lashkar-e-Taiba (LeT) terrorist outfit chief Hafiz Muhammad Saeed in an attempt to clamp down on terror funding, the Economic Times reported… The ED has identified 13 properties belonging to other militant organisations. .. https://www.timesnownews.com/business-economy/economy/article/ed-cracks-down-on-terror-funding-to-seize-properties-of-hafiz-saeed-zakir-naik/373999
posted by Christopher W. Holton Jaish-e-Mohammed (JeM), the jihadist terrorist group that launched an attack on an Indian army outpost in Kashmir that has put India and Pakistan on the brink of full-scale war, has a long history of waging violent jihad. It turns out it also has a history of acquiring and running seemingly […]
posted by Christopher W. Holton Reports say Taliban’s incomes have increased this year against the previous years. A report by the BBC shows that Taliban annually earns more than $1.5 billion from drug dealing, illegal mining, collecting electricity bills and financial support from a number of countries. The report said that this year Taliban’s financial […]
posted by Christopher W. Holton The Jerusalem Post published a report yesterday detailing how Jihadist organizations finance their operations through a variety of smuggling and criminal enterprises. Jihadist groups are said to be able to raise $300 million from such activities in Pakistan and Afghanistan in particular. Worse yet, the US consumer is indirectly funding […]
posted by Christopher Holton Bloomberg News has an article posted about the situation in Pakistan that has mostly escaped the attention of the West in general and Americans in particular. Under pressure from the Trump administration, Pakistan has made a great show of cracking down on “extremism.” But the persistent presence of jihadis in Pakistani […]
Long Island Woman Accused of Funding Islamic State
posted by Christopher W. Holton A Long Island, New York woman named Zoobia Shahnaz has been charged with bank fraud, conspiracy to commit money laundering and money laundering and is being held without bail after evidence indicated that she was sending money to the Islamic State jihadist organization. Shahnaz was born in Pakistan and worked […]
posted by Christopher W. Holton Readers who do business with Citi Group may be interested in their activities involving Shariah-compliant finance in Pakistan. According to annual report issued by Securities and Exchange Commission of Pakistan (SECP), Shariah-compliant assets now represent 34.6 per cent of the total assets of the Non-Banking Financial Institute (NBFI) industry in […]
by Christopher W. Holton Here is a report that vividly illustrates the profound differences between charities in the West and “charities” in the Islamic world. Not only do Islamic charities routinely fund Jihad, they also operate Shariah courts. In the case linked below, we have Jamat ud Dawa, a Pakistani charity that has already been […]
by Christopher W. Holton Increasingly, Shariah-compliant forms of financing are supplanting and replacing conventional financing in the Islamic world. For years, Pakistan has used conventional financing for infrastructure projects, such as bridges. Now the government is embarking on a plan to replace conventional methods with Shariah-compliant financing. While it is not a big surprise that […]
Zakat Financing Jihad
Long time readers of SFW know that we have explained repeatedly that zakat has been used to fund Jihadists because Shariah mandates it. Here we have an article on the subject from a Muslim writer in the Pakistani media acknowledging the fact that zakat funds Jihadists and pointing out that the Pakistani government has done […]
In what can only be described as a stunning development, the Kingdom of Saudi Arabia has joined the US Treasury Department in placing sanctions on an Islamic charity that has provided material support to the Jihadist terrorist organization, Lashkar e Taiba. Readers may recall that Lashkar e Taiba was responsible for the 2008 Mumbai terrorist […]
http://www.dailymotion.com/video/x2h361n
The United States Attorney’s Office announced Friday that Reaz Qadir Khan, 51, entered a guilty plea to being an accessory after the fact for the help he gave to people connected to a 2009 suicide bombing in Pakistan. According to prosecutors, Khan admitted helping suicide bomber Ali Jaleel receive about $2,450 inside Pakistan before he […]
A Bangladeshi newspaper has reported that an official in Pakistan’s embassy in Bangladesh was involved in funding Jihadist organizations. The language is kind of rough, so we aren’t posting an excerpt, but here is a link… http://daily-sun.com/print/front-page/2015/02/02/485635
1/16/2015 Action Targets Long-Time Members of D Company and a Paper Mill Controlled by One of the Designated Individuals WASHINGTON – The U.S. Department of the Treasury today announced the designation of two Indian nationals and one entity in Pakistan as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) due […]
Lashkar e Taiba Charity Wing Still Active
Lashkar e Taiba is one of the most vicious and deadly Jihadist groups in the world, having carried out the horrific Mumbai attack in 2008. They have long been supported by, and worked through, their charity wing, Jamaat-ud-Dawa, which the Pakistani government has left completely untouched. Nothing better illustrates the problems associated with Islamic charities. Even […]
Pakistani Islamic State Leader: Funding Comes from Inside the USA
There is no way to verify this claim, but it would certainly not be unprecedented for funding for Jihadist terrorist organizations to be coming from members of the Islamic community in the USA… The Islamic State commander in Pakistan allegedly confessed to having received funds routed through the United States to operate the jihadist organization […]
Jamaat-ud-Dawa, the Islamic charity wing of the Jihadist terrorist group Lashkar e Taiba, has just held a major conference in Pakistan. The organization called for a Jihad against India, Israel and the United States and tied its charity relief work to converting hundreds of Hindu to Islam. About JuD’s increasing shift to relief efforts, senior […]
Al Baraka Banking Group has announced its collaboration with the World Bank to begin a research partnership that would be beneficial to the global Islamic banking industry. The partnership’s first initiative, part of a planned series of research projects, will be a study examining the risk-management challenges facing Islamic banks, with a particular focus on Musharaka and […]
Report: Taliban continued to be funded from Karachi
Taliban operative reveals the militant organization continues to use Karachi as a base for financing its reign of terror. During interrogation Ehsanullah Burki revealed he was tasked with sending Rs. 10 million to Waziristan for operation expenses. http://www.thenews.com.pk/article-154767-Detained-operative-reveals,-Karachi-funding-base-for-Waziristan
The Pakistani Senate Standing Committee on Interior and Narcotics Control has unanimously approved an Anti-Terrorism Bill relating to counter-financing of terrorism. The bill is said to address shortcomings that relate to provisions on terrorist financing in Pakistan’s Anti-Terrorism Act, 1997 as pointed out by the Financial Action Task Force (FATF). FATF is an international body comprising many countries and international […]
Bahrain-based Al Baraka Banking Group said it is considering issuing subordinated Shariah-compliant bonds through its South African and Pakistani units. The South African issue is obviously more significant from a geopolitical standpoint since Pakistan is already an Islamic nation with a mature system of Shariah finance. South Africa, on the other hand, is not an Islamic nation, […]
It’s no secret that Jihadist organizations based in Pakistan have been targeting India, particularly Kashmir, for many years. And it’s no secret that Islamic charities have long facilitated the funding of such operations. Now, Indian authorities have uncovered some of the mechanisms by which Islamic charities based in Pakistan have been funding jihad in Kashmir. […]
Sirajul Haq, the head of Jamaat-e-Islami political party in Pakistan, has said that a state of war exists between the US and Islam. A key component of that war, according to Haq, is the conflict between Western economics and an Islamic system of economics: Sirajul Haq said the western economic system based on interest could […]
State Bank of Pakistan (SBP) Deputy Governor Saeed Ahmad recently claimed that Shariah finance is going to become a better alternative to conventional banking. “Given its global outreach, growing recognition as a stable system, and its ability to provide financial solutions to all business needs, Islamic finance is all set to establish itself as a […]
Here is more proof that Shariah-compliant finance is a system based on centralized economics and not a product of, or adjunct to, free market economics. The Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatization on Friday informed the National Assembly that the government was taking steps to promote Islamic Banking in the country. http://www.brecorder.com/top-news/108-pakistan-top-news/165811-govt-taking-steps-to-promote-islamic-banking-na-told.html […]
One common misconception about Shariah Finance is that it is part of the capitalist system, a component, somehow, of free enterprise. That is completely wrong and promoters of Shariah Finance freely admit it. Sheikh Yusuf al-Qaradawi, the Sunni Muslim world’s most prominent Shariah scholar and ideological mentor to the Muslim Brotherhood, came right out and […]
Pakistani Central Bank to Push Shariah
Pakistan’s central bank has published a detailed five-year plan to promote Islamic finance through an array of proposed legislative changes, product incentives and instructions to market participants. The plan aims to double the branch network of Islamic banks, which now have about 1,200 branches, and increase the industry’s market share to 15 percent of the banking […]
The Pakistani-based AlHuda Centre of Islamic Banking and Economics (CIBE) is slated to conduct a Shariah finance and banking road show of sorts across the continent of Africa. Among the countries that CIBE will be proselytizing in will be Tanzania, Tunisia, Nigeria, Kenya, Ghana, South Africa and Mauritius. https://www.zawya.com/story/AlHuda_CIBE_will_Organize_African_Islamic_Banking_and_Finance_Road_Show-ZAWYA20140224135617/ CIBE is becoming a nefarious force in the […]
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