Two of the chief concerns surrounding Shariah Compliant Finance are the issues of zakat and purification in which proceeds are donated to Muslim charities selected by Shariah Advisory Boards. With horrible people like Mufti Taqi Usmani (the “grand-daddy” of modern Islamic finance) and Sheikh Yussef al Qaradawi sitting on such boards, it is not hard to see where the concerns come from. There is empirical evidence that Muslim charities fund Jihad, as we have documented on SFW before:

http://www.shariahfinancewatch.org/category/islamic-charities/

One of the most infamous Muslim charities in the USA was the Holy Land Foundation, which funneled millions of dollars to the Jihadist terrorist organization HAMAS. This case continues to make news:

http://www.haaretz.com/hasen/spages/1134477.html?

 

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