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Understanding Shariah Finance and Islamic Banking in American Finance

September 8th 2008

 

 

The Middle East, with its exotic tropical sirocco winds, is also now the haven and leader of a new form of finance that is enticing the world with the alluring scent of its petrodollars. Substantial profits are to be made, and gold plated Bentleys, mansions on the Palm Jumerah Island, and golf courses designed by Tiger Woods only add to the mystique behind the veils. However, more than Dubailand and dreams of riches lurk behind the Islamic ideologues who invented the concept of Islamic Finance, and they are ones who are promoting this form of “interest-free, Muslim friendly, ethical investment” worldwide.

From behind the walls of opulent palaces and banks, there are many people with militant backgrounds who are seeking to promote this new type of religious finance to spread a form of militant Islam throughout western civilization. That militancy, they believe, can be financed by co-opting American financial institutions. Many in this movement wish to replace traditional western capital systems with Islamic economic values.

Islamic Finance was conceived by the Muslim Brotherhood in Egypt in the 1920s. Decades later, it is a viable modality for spreading the Islamist movement of Jihad against the West.

To understand the concepts of Shariah one needs to understand and the doctrines

 

 

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