It sure would have been nice if these same concerns were shared by our shameful US Treasury Department, which held seminars on Shariah-Compliant Finance after Secretary of State Condoleezza Rice raised these issues…

LONDON, March 15 (Reuters) – U.S. authorities expressed concerns that Britain’s growing sharia banking sector may be exploited to channel funds to terrorists, the Daily Telegraph reported, citing diplomatic cables released by WikiLeaks.

This cable requested information on “Islamic financial institutions’ vulnerability to exploitation for illicit or terrorist purposes, such as structuring accounts to mask illicit activity or money laundering.”

Read more at…

http://www.reuters.com/article/2011/03/15/wikileaks-britain-shariabanks-idUSLDE72E0ZW20110315

These are the exact issues that we and other opponents of Shariah-Compliant Finance have raised for years, yet Wall Street and federal regulators remain oblivious to the threat.


 

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