Middle Eastern Islamist regimes, awash in petrodollars, are now touting Shariah Finance as the key for renewed economic growth.
What this amounts to is Islamic imperialism. Whereas in the past Saudi, Kuwaiti and other oil sheikhs in the 1970s began expanding their clout by investing in Western real estate and securities markets, today they have taken a new strategy.
They are using their economic power to compel the non-Islamic world to comply with Shariah in financial transactions and systems in order to attract their petrodollars. This is exactly why people like Frank Gaffney, David Yerushalmi, Robert Spencer and Dick Morris are calling Shariah Finance a “Trojan Horse,” and it is also why Muslim leaders themselves at the World Islamic Economic Forum held earlier this year in Jakarta, Indonesia referred to “Islamic finance” as “missionary work.”
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