|Shari’a Banking is Coming to the U.S.|
Islamic/Shari’a banking is coming to the United States and other western nations, thanks to global banks such as Citigroup, HSBC, Deutsche Bank, Morgan Stanley and Goldman Sachs.
With Great Britain now pledging to become the Islamic banking center of the world, the stampede by all global banks to enter the world of Islamic banking is well underway.
…The implications for the west, and especially for the United States, are staggering. Because all Islamic banking products must be created and offered according to strict Shari’a law, global banks are doing for Islam what it could never do on its own: give legitimacy to Shari’a and infiltrate it into the fabric of western society.
What is Islamic banking?
Simply put, “Islamic banking and finance” creates, sells and services products that are in strict accordance with Shari’a. In the Islamic culture, it is referred to as “Shari’a finance” and covers the practices of banking, investment, bonds, loans, brokerage, etc.
To insure Shari’a compliance, banks must hire Shari’a scholars to review and approve each product and practice as “halal”, the Muslim equivalent of kosher in Judaism. Because there is a shortage of such scholars, there is competition between banks to find the best expert to sit on their boards of directors. This provides the highest legitimacy to each ruling because it is made at the director rather management level.
It should be noted that most of these scholars are from the school of radical Wahhabi/Salafi Shari’a in Saudi Arabia and elsewhere, holding views diametrically opposed to the basic values of Western civilization.
Shari’a finance has many differences from orthodox banking: Notably, it cannot charge interest (usury) and it calls for alms giving (zakat). It also calls for avoidance of excessive risk and may not be associated in any way with gambling, drinking alcohol, eating pork, etc.
Zakat demands a tithe of 2.5 percent of revenue be donated to Islamic charity. If western banks follow this rule, their contributions will be staggering. It is certain that a portion of this money will end up in the hands of radical Muslims who are sworn to destroy the U.S. and replace its government with Shari’a law.
…The unholy alliance between Islam and global banking may be the final leg on the age-old quest for global domination. Don’t be surprised at the silence of the global elite the next time you hear Islamist mobs chant “Death to America” – their goals are now intertwined