U.S. Combat Veterans Sue Big Banks for Facilitating Iranian Terrorism
More than 80 wounded U.S. combat veterans and their families have filed suit against several of the world’s largest banks, which they accuse of facilitating financial transfers on behalf of Iran that directly led to the killing and wounding of U.S. troops in Iraq. More than 200 plaintiffs have signed onto the suit, which targets some of […]
Barclays Plc will sell its retail banking business in the United Arab Emirates to Abu Dhabi Islamic Bank PJSC $177 million. Barclays joins Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, and Lloyds Banking Group Plc in exiting consumer and commercial-banking business in the U.A.E. http://www.businessweek.com/news/2014-04-06/barclays-to-sell-u-dot-a-dot-e-dot-retail-banking-to-abu-dhabi-islamic-bank
Wikileaks: Popular Somali Money Transfer Mechanism Used to Fund Al Qaeda
According to Wikileaks documents, the popular Somali money transfer firm, Dahabshiil, has been used to provide money for jihad. The WikiLeaks release of the files of detainees of the US’s Guantanamo Bay detention facility suggested Dahabshiil was the money transfer method used by Muhammad Sulayman Barre to fund al-Qaeda’s November 2002 attacks in Mombasa, Kenya. Partially […]
Does Your Financial Institution Participate in Shariah Compliant Finance?
The most common requests we receive here at SFW are questions as to whether banks or brokerage houses “are Shariah-compliant?” As a result of these numerous inquiries, for the past several weeks, we have carefully compiled a list of financial institutions active in the USA that have some form of tie to Shariah Compliant Finance. […]
Qatar Moves to Shut Down Shariah-Compliant Divisions of International Banks
Hat tip to Creeping Sharia for this find… For years now SFW has warned big Western banks like HSBC, Standard Chartered and Barclays about the perils of dabbling in Shariah-Compliant Finance. Each of these banks, but HSBC in particular, has happily jumped in bed with the financial jihadists to get their piece of the Shariah-Compliant […]
Barclays Capital, the investment banking arm of London-based Barclays Plc, is offering Shariah- compliant repurchase agreements to allow Islamic banks and investors manage their funds. Barclays introduced the product worldwide two weeks ago and is focusing on clients in Malaysia and the Middle East. http://www.businessweek.com/news/2010-08-18/barclays-capital-offers-islamic-repos-in-1-trillion-market.html
Barclays woos Muslims in Kenya by joining the financial jihad
Barclays Bank has unveiled two new Shariah compliant products offered in Kenya. SFW readers may wish to take Barclays’ Shariah activities into account when making your own financial decisions… http://www.standardmedia.co.ke/business/InsidePage.php?id=2000002308&cid=14
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