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Articles on this Page
- 02/18/14--05:54: _The Infiltration of...
- 02/25/14--15:45: _Some Statistics on ...
- 02/25/14--15:52: _Pakistani Central B...
- 03/11/14--06:47: _Pakistani Governmen...
- 03/14/14--08:41: _The Misleading Labe...
- 04/06/14--12:47: _Disinformation from...
- 04/28/14--16:43: _Here’s why you can’...
- 04/28/14--16:51: _Shariah Bankers and...
- 04/28/14--16:59: _Proselytizing Shari...
- 05/02/14--10:02: _Iran Calls for Esta...
- 05/16/14--19:29: _Report: Shariah Fin...
- 05/27/14--19:59: _Iran: Shariah Finan...
- 01/06/16--11:52: _Indonesian Governme...
- 04/28/16--08:17: _Pakistan pushes for...
- 05/12/16--18:06: _Your tax dollars at...
- 08/18/16--18:13: _Trillions of Dollar...
- 06/13/17--10:41: _Africa’s growing Sh...
- 06/14/17--17:59: _More fallout from t...
- 06/30/17--10:57: _Financial Jihadists...
- 06/30/17--11:50: _The New York Times ...
- 02/18/14--05:54: The Infiltration of the British Financial System Continues
- 02/25/14--15:52: Pakistani Central Bank to Push Shariah
- 03/11/14--06:47: Pakistani Government Commits to “Nurture” Shariah Finance
- 03/14/14--08:41: The Misleading Label of “Interest-Free”
- 04/06/14--12:47: Disinformation from Saeed Ahmad of the State Bank of Pakistan
- 04/28/14--16:51: Shariah Bankers and Zakat Arm in Arm in Oman
- 04/28/14--16:59: Proselytizing Shariah Finance With Fraud in Uganda
- 05/02/14--10:02: Iran Calls for Establishment of United Islamic Financial System
- 05/16/14--19:29: Report: Shariah Finance has a “Huge” Potential in North America
- 05/27/14--19:59: Iran: Shariah Finance’s Dirty Secret
- 01/06/16--11:52: Indonesian Government to Form Committee to Promote Shariah Finance
- 06/13/17--10:41: Africa’s growing Shariah finance footprint
- 06/14/17--17:59: More fallout from the Dana Gas sukuk debacle
- 06/30/17--10:57: Financial Jihadists Continue to Target Kenya
Elected officials in the UK have long expressed the desire for London to become a “mecca” of Shariah finance in the West (pun intended). They have bent over backwards to promote Shariah finance for years. Despite these efforts, statistics show that Shariah banks in the UK lag behind their conventional counterparts. Perhaps this is because [...]
Here are some statistics on the growing threat from Shariah Finance. The fact that they come from an article promoting Shariah Finance in Hispanic Business should also raise some eyebrows about the movement to push Shariah on non-Muslim communities… • Size of Shariah-Finance Industry: $1.35 trillion • Annual Growth Rate: 20% • Number of Shariah-Compliant Financial Institutions: [...]
Pakistan’s central bank has published a detailed five-year plan to promote Islamic finance through an array of proposed legislative changes, product incentives and instructions to market participants. The plan aims to double the branch network of Islamic banks, which now have about 1,200 branches, and increase the industry’s market share to 15 percent of the banking [...]
One common misconception about Shariah Finance is that it is part of the capitalist system, a component, somehow, of free enterprise. That is completely wrong and promoters of Shariah Finance freely admit it. Sheikh Yusuf al-Qaradawi, the Sunni Muslim world’s most prominent Shariah scholar and ideological mentor to the Muslim Brotherhood, came right out and [...]
One unfortunately all-too common practice in the Shariah Finance industry is to tout “interest-free” banking and instruments, mortgages and loans in particular. This implies that there is no charge for borrowing, which couldn’t be further from the truth. The reality is that charges and fees associated with Shariah-compliant loans are typically more than interest charges [...]
State Bank of Pakistan (SBP) Deputy Governor Saeed Ahmad recently claimed that Shariah finance is going to become a better alternative to conventional banking. “Given its global outreach, growing recognition as a stable system, and its ability to provide financial solutions to all business needs, Islamic finance is all set to establish itself as a [...]
Thomson Reuters wins Islamic banking award Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has been named the Best Technology Provider for Islamic Banking in The Asset magazine’s Triple A Islamic Finance Awards 2014. Thomson Reuters has been at the heart of Islamic finance for over 30 years, offering innovative [...]
Oman is a relative newcomer in the Arab world to Shariah-compliant finance, but now the sultanate is jumping in with both feet. An example is the symposium linked below which promotes the marriage between Shariah finance and zakat. We include this link primarily because there are still some who deny any linkage between Shariah finance [...]
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 [...]
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 [...]
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 [...]
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?
posted by Christopher W. Holton Here we have more evidence that Shariah-compliant finance stands diametrically opposed to free enterprise and free market economics. Indonesia is the world’s most populous Muslim nation, yet, there has been little support for Shariah Finance there. So, as is a common practice in all nations involved in Shariah-compliant finance, be [...]
by Christopher W. Holton Increasingly, Shariah-compliant forms of financing are supplanting and replacing conventional financing in the Islamic world. For years, Pakistan has used conventional financing for infrastructure projects, such as bridges. Now the government is embarking on a plan to replace conventional methods with Shariah-compliant financing. While it is not a big surprise that [...]
by Christopher W. Holton This morning, 12 May 2016, taxpayer-subsidized National Public Radio ran what amounts to a three and a half minute advertorial for Shariah-compliant banking, specifically a Shariah-compliant bank that will be familiar to long-time readers of Shariah Finance Watch: University Islamic of Michigan. http://www.npr.org/2016/05/12/477758545/michigan-bank-discovers-the-need-for-islamic-finance-products What we find particularly enlightening about the NPR [...]
posted by Christopher W. Holton This explains in a nutshell why Shariah-compliant finance has gained a firm foothold in the West… Muslims have a whopping $11.5 trillion of wealth to their names, triggering a race among asset managers to tap this massive pool of capital, a Bloomberg report says. According to Washington-based Pew Research Center [...]
posted by Christopher W. Holton Shariah compliant finance continues to be an instrument of Islamic imperialism. No where is this more true than in Africa where, in nations like Kenya, which has a very small Muslim population, Shariah compliant financial institutions are descending upon the marketplace. http://www.islamicfinance.com/2017/06/africas-growing-islamic-finance-footprint/
posted by Christopher W. Holton A decision by Abu Dhabi-listed Dana Gas to declare $700 million of its sukuk invalid has sent shivers through the Islamic finance industry, raising concern about the safety of sharia-compliant debt instruments in general. Dana said on Tuesday it had received legal advice that its sukuk, or Islamic bonds, which [...]
posted by Christopher W. Holton Shariah finance is a weapon of Islamic imperialism, as evidenced by the fact that Kenya has been targeted for some time to embrace Shariah finance. Unfortunately, those efforts have been successful. Keep in mind that Kenya is less than 12% Muslim, so there is very little inherent demand for Shariah-compliant [...]
by Christopher W. Holton Today’s New York Times has what amounts to an advertorial for Shariah finance, espousing “Retirement Savings, the Muslim Way.” Not surprisingly, given the New York Times’s jaded past, the article is unbalanced and omits many of the concerns about Shariah finance. For starters, there is this passage: Investing in companies earning [...]