While conducting online research we came across this page featuring a series of propaganda videos on Shariah-compliant finance. Note in particular that some of the personalities featured in these videos are truly “useful idiots”–non-Muslim executives shilling for the enemy threat doctrine… http://www.quazoo.com/q/Sharia%20investment?tab=videos
With its financial muscle the Arab nation has become a major player on the global stage. And nowhere has the impact of that power been felt more keenly than in Britain. Qatar might be only the size of Belgium with a population a quarter of London’s but its colossal economic strength has enabled it to […]
The Bahrain-based International Islamic Financial Market purports to be a Shariah finance industry entity designed to impose industry-wide standards on the Shariah-compliant finance industry. That may or may not be true. They sure have a slick web site. But when you drill down on their web site, you find some troubling aspects of the organization, its […]
Shariah banking could become a world norm in the near future as demand continues to grow in the Middle East and parts of Asia and Europe. That’s the word from experts who are sharing their predictions at the World Islamic Economic Forum in Dubai. http://www.dubaieye1038.com/islamic-finance-soon-become-norm-experts-predict/
Billions of petrodollars reside in instruments known as Waqfs, a kind of Islamic endowment fund. These Waqfs have been used for some legitimate purposes over the years, but they’ve also been used to support Jihadist and Islamist groups, notably the Muslim Brotherhood in Kuwait, for example. The Shariah-Compliant Finance industry has their sights set on […]
A defunct landmark power plant in the London area is being redeveloped as upperclass apartments. So far so good. The project is being financed through a Shariah-Compliant arrangement with a Malaysian bank. Not so good. And everyone involved is absolutely giddy that the project will help continue to pave the way for London to be […]
Coming soon? A Shariah-Compliant Megabank?
The Prime Minister of Malaysia backs the creation of a global Islamic megabuck to promote Shariah… Prime Minister Datuk Seri Najib Razak said yesterday that he backed the idea of creating a large stand-alone Islamic bank, in order to develop a global footprint for Islamic finance and position it as an alternative to conventional banking. […]
Speaking at the World Islamic Economic Forum in Dubai, the British Economic Secretary to the Treasury, Andrea Leadsom, set out further steps to cement Britain’s position as the Western hub for Shariah-compliant finance. http://www.zawya.com/story/UK_Economic_Secretary_announces_further_steps_to_cement_Britains_position_as_Western_hub_for_Islamic_finance_OFFICIAL-ZAWYA20141028133741/
Yet another article from the US media that reads like a marketing brochure, rather than an objective evaluation of the issues at hand… http://www.usatoday.com/story/money/business/2014/10/11/shariah-compliant-islamic-financing-usa-europe/16828599/
Seattle-based Falah Capital is preparing to launch a shariah-compliant exchange-traded fund (ETF) that tracks large US stocks, the latest shariah-compliant product to be issued in the USA. The ETF will be advised by Exchange Traded Concepts and Mellon Capital Management, with Bahrain-based Shariyah Review Bureau acting as shariah advisor. Readers of SFW may wish to […]
Experts have calculated that Islamic Banking will be a $2.1 trillion industry by the end of 2014. Governments across the former Soviet Union are increasingly turning toward Islamic Finance as a legitimate banking system. The Russian Banking Association (RBA) has begun lobbying for the adoption of a federal law to regulate the growing field within the Russian […]
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, in collaboration with The Association of Islamic Banking Institutions Malaysia (AIBIM) and the Malaysian Islamic financial community, has announced that it will launch a new rulebook for the usage of SWIFT MT messages for Islamic finance. http://www.finextra.com/news/announcement.aspx?pressreleaseid=56622&topic=payments
It is rare that those in the forefront of the Shariah finance industry actually tell the truth about Shariah finance, but here we have an exception of sorts. It’s an imperfect exception, but it is interesting nonetheless. We have long pointed out at SFW that much of the Shariah Finance industry is smoke and mirrors, […]
Let’s be perfectly clear: “Islamic finance” is a euphemism for Shariah-Compliant Finance. Any instruction in Shariah-Compliant Finance necessarily involves instruction in Shariah, a barbaric, savage doctrine that is opposed to everything Western civilization was founded on. Nevertheless, the University of Bolton in the UK is offering its new MBA in SHARIAH… http://www.bolton.ac.uk/MediaCentre/Articles/2014/Aug2014-04.aspx
Report: Shariah-Compliant Finance Advancing in Non-Muslim World
The reason Shariah-Compliant Finance was created was to promote Shariah and Islam. According to the Thomson-Reuters Islamic Finance Development Indicator (IFDI), it is accomplishing its mission… • The number of Islamic finance conferences with more than 100 participants worldwide surged by 41% to 107 in 2013 from 76 in 2012, with 36 countries hosting conferences […]
Mufti Muhammad Hassaan Kaleem has joined the Shariah advisory board of Dubai Islamic Bank. Kaleem is already a member of Deloitte’s Shariah advisory board and AAOIFI. Given his position with AAOIFI, it is not surprising that Kaleem is a pupil of the hate-filled, Jihadist Mufti Taqi Usmani, who chairs AAOIFI’s Shariah board and was previously […]
Demand for Shariah Finance training from non-Muslims rose more than fourfold in the past seven years as students seek to enter the industry… http://www.bloomberg.com/news/2014-08-07/shariah-study-lures-non-muslim-students-in-asia-islamic-finance.html
Banco do Brasil is planning to launch a Shariah-compliant fund in partnership with Singapore-based Islamic Bank of Asia. The fund will focus on stocks listed on theSão Paulo Stock Exchange and specifically in the commodities, mining, oil and gas sectors. The fund will be managed in Brazil and marketed around the world. Brazil is a significant exporter […]
For centuries, Hong Kong has been a center of worldwide commerce. Unlike most other such financial centers, Hong Kong has been slow to embrace Shariah Finance. http://www.scmp.com/business/money/markets-investing/article/1535235/islamic-finance-still-pipe-dream-hong-kong
It is widely known that Shariah-compliant institutions and transactions are forbidden from dealing in interest, either charging interest or paying interest. Sometimes, as we’ve pointed out on SFW many times over the years, the industry fraudulently declares that its loan mechanisms are “interest-free.” This implies that Shariah-compliant institutions lend money for free. Nothing could be […]
The Philippine government is planning to issue Shariah-compliant bonds, or sukuk, for the first time in the predominantly Catholic nation in order to finance a number of infrastructure programs and generally raise investment from the oil-rich Middle East. For example, Qatar and the Philippines in 2012 agreed to set up a $1bn investment fund that would focus […]
What country accounts for 36% of all Shariah-compliant assets: Iran. Is it just a coincidence that Iran is also the world’s leading state sponsor of terrorism?
Prospects for international Islamic capital markets remain bright, according to the Chief Economist of the Economic Development Board, Dr. Jarmo Kotilaine. Dr. Kotilaine discussed the prospects for the future of Islamic capital markets during a speech held at the World Islamic Funds and Capital Markets Conference in Bahrain. This year’s event marks the conference’s 10th […]
The central bank of Ghana says it will consider granting a license for Shariah-compliant banking…meanwhile, Shariah finance is running into understandable resistance in neighboring Nigeria… But the introduction of Islamic banking in Nigeria is bringing some divide within the country’s religious (both Christians and Muslims) leaders.A Voice of America (VOA) report July 15, 2011 indicates […]
A new report details the intention of financial jihadists to infiltrate the Americas through the financial backdoor… Islamic finance, banking, and takaful (Islamic Insurance) has a large potential in the US and Canada despite several setbacks and various obstacles and hurdles, which exist in any secular country or nation where church and state has been […]
London Stock Exchange to Co-host Shariah Finance Seminar
QInvest, Qatar’s leading investment bank, will be hosting a Shariah Finance seminar in partnership with the London Stock Exchange in London this Friday 16thMay. London’s quest to become the Western capital of Shariah Finance continues apace, just as Shariah overall makes inroads across the UK’s legal system and culture. This is what civilizational suicide looks like…
Kyle Shideler makes an excellent point with the article linked below: Shariah is not an a la carte menu from which you can pick and choose what you want based on what you like and dislike. As we noted here on SFW, on the very day that the Sultan of Brunei’s order to impose shariah went into effect, […]
An outfit we’ve never come across before, the Franco-American Alliance for Islamic Finance, is holding a seminar promoting Shariah finance in North America. Where is the seminar being held? In Dubai. More details… http://www.digitaljournal.com/pr/1902068 http://www.faaif.com
One of the dirty, dark secrets of Shariah-Compliant Finance is the fact that Iran, the world’s most active state sponsor of Jihadist terrorism, dominates the world of Shariah Finance. Now Iran has called for a global Islamic financial system… Chairman of Iran’s Securities and Exchange Organization Ali Salehabadi on Sunday called for a united financial […]
Proselytizing Shariah Finance With Fraud in Uganda
The next country in the financial jihadists’ sites appears to be Uganda. Olive Kigongo, the President of the Uganda National Chamber of Commerce and Industry (UNCCI), has announced Uganda will host a seminar on Islamic Banking soon. “The difference between Islamic banking and the one more conventional banking we are used to, is that no interest […]
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