Iranian President Mahmoud Ahmadinejad was a featured speaker at the Organization of the Islamic Conference economic summit about which we reported on 9 November:

http://www.shariahfinancewatch.org/2009/11/09/islamic-state-leaders-converge-in-istanbul-for-economic-summit/

In his address to the summit, which ┬ásome so-called US “allies,” Ahmadinejad called for a replacement of capitalism by an Islamic system of economics.

This makes sense since Iran has dominated the world of Islamic finance for 3 years running. All of the largest Shariah-Compliant financial institutions are Iranian–and they’re state-run too.

The fact that Iran uses those same institutions, many of which are under international sanctions, to fund Jihadist terrorism is no coincidence.

These words from the vicious president of the world’s number 1 terrorist nation should convince Western promoters of Shariah Finance that they are NOT promoting free markets by embracing Shariah. Quite the opposite; they are promoting a discredited, centralized system of economics which seeks to replace capitalism and is growing every day…

The day before, at the same conference of the economic and commercial committee of the Organization of the Islamic Conference, Ahmadinejad blasted the un-Islamic qualities of global free markets, including the paying of interest on investments.

“Usury, which is entrenched in the capitalist system, is perhaps the main reason why the system has gone bankrupt,” he said. “It is a way of accumulating capital without working. Usury, according to the Koran,” Ahmadinejad argued, “is fighting with Allah.”

That means Tehran believes virtually every commercial act taking place in a free Western economy is an affront to Islam. It sounds like America and Europe would have to make an awful lot of “big and correct decisions” before our domestic and trade policies fell in line with the moral standards of Ahmadinejad and the mullahs who pull his strings.

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=512111

 

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