REMINDER: Caribou Coffee is 87.8% owned by First Islamic Investment Bank

Snopes ^ | Updated 11-17-06

[STARWISE]

Caribou Coffee

Claim: An Islamic bank is the majority owner of the Caribou Coffee chain.

Status: True

Example: [Collected on the Internet, 2002]

As you will see from the links below, Caribou Coffee is owned 87.8% by the First Islamic Investment Bank which, among other things has the following philosophy: "Above all, ensuring that all activities conform to Islamic Shari'ah" The chairman of their Shari'ah supervisory board is:

Dr. Yusuf Abdullah Al-Qaradawi Chairman, Seerah & Sunnah Center, Qatar University; Professor, Faculty of Shari'ah, Qatar University.

As you will see from the links below he is also on the supervisory board of "Union for Good," which is a charitable organization to support Palestinians. Nothing wrong with a charity to help Palestinians, but here is a quote from the Union for Good web site:

"The Al-Aqsa Intifada is the latest of a long line of affliction faced by the people of Palestine. Its ancestry dates back to the massacre of innocent men, women and children in villages such as Deir Yaseen and the illegal occupation of Palestine in 1948."

*snip*

Last updated: 17 November 2006

~~~~~

Much more at link.

[muawiyah]

Or, vice versa. I referred to improvement in the cultivar, which they did. The original coffee bean bush may have come from Java for all that matters.

[Oorang]

I admit I'm a coffee fanatic. I order all my coffee beans from this company:

http://www.pacificrimcoffeeroasters.com/

It is a small, family run outfit and they roast the beans daily. The quality is excellent and the service is top notch.

[eleni121]

Good to know. Thanks for the reminder.

[theDentist]

Thanks for the post. A local store is selling that brand among others, and I’d have made the purchase when I run out.

[Into the Vortex]

From France? Don’t know what gave you that idea. You however, are an enigma. You seem to pop up and defend anyone that is not of Anglo American origin, almost on que. Whether it’s Indian tiger baiters (red dot, not tomahawk) or Arabic coffee bush stumblers, you’re always there. What’s up with that?

[magooey]

Muawiyah said

“Not concerned at all. Arabs were the first folks in the world to successfully improve the wild breeds of coffee and make them palatable. It’s THEIR STUFF.”

Excuse me, but coffee was originally discovered in Ethiopia when a herder saw the animals responding to eating the beans of the coffee plant. So it does not belong to the Arabs, since they were not the discovers. I am sure Ethiopians want proper compensation for unpaid utilization of their country's plant genome stock.

Magooey

[Barnacle]

- - - BREAKING - - - THIS JUST IN - - - STANDBY FOR TRANSMISSION - - -

HEADLINE:

US Congress is Owned 37.8% by the First Islamic Investment Bank

[muawiyah]

BTW, scientists credit Etheopia with being the first place identifiable coffee bushes were grown. They did not roast the beans. The Arabs, later on, began roasting the beans. Cultivation of improved cultivars in South Asia followed.

The Coffea plant is native to subtropical Africa and southern Asia in any case, so the only dispute is about who first used it the way we do ~ in Coca Cola, and that was in Atlanta wasn't it?

[muawiyah]

Ethiopians would have slaughtered such animals lest they fall over dead and then be inedible (some societies just won't eat roadkill you know).

This jumping animal story is just a folktale.

[festus]

Arabs are hip to saving the planet.

My wife once did some business with a company that was making an eco friendly toilet paper out of cotton. ( Don’t ask me to explain how all that saved the planet ). Anyway the company was fully funded by middle eastern investors.

[muawiyah]

I think it may be because you invaded and took the place over ~

[festus]

Is there actually any coffee that isn’t better than starbucks ?

[STARWISE]

http://www.arcapita.com/index.html

Current real estate investments

http://www.arcapita.com/real-estate/current/current-all.html

Current investments

http://www.arcapita.com/venture/current/current-all.html

Current corporate investments

http://www.arcapita.com/corporate/current/current-all.html

Caribou Coffee Company, Inc. is the second largest non-franchised specialty coffeehouse chain in the United States.
Transaction Date: December 2000
Region: United States
www.cariboucoffee.com
More Information

~~~~~

Caribou Coffee, founded in 1992 and headquartered in Minneapolis, Minnesota, is the second largest company owned gourmet coffeehouse operator in the United States based on the number of coffeehouses.

As of September 30, 2007 Caribou Coffee had 473 coffeehouses, including 41 franchised locations.

Caribou Coffee offers its customers high-quality gourmet coffee and espresso-based beverages, as well as specialty teas, baked goods, whole bean coffee, branded merchandise and related products.

Caribou Coffee also sells products to club stores, grocery stores, mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses and other commercial customers.

In addition, Caribou Coffee licenses third parties to use the Caribou Coffee brand on quality food and merchandise items. Caribou Coffee focuses on creating a unique experience for customers through a combination of high-quality products, a comfortable and welcoming coffeehouse environment and a unique style of customer service.

[muawiyah]

I usually don’t defend Mexicans either. Last time they made a serious invasion they ate all the Anasazi.

[muawiyah]

I usually don’t defend Mexicans either. Last time they made a serious invasion they ate all the Anasazi.

[familyop]

"Yes, but it does not say anything about Sharia law, etc. I still believe that the snopes link is a hoax."

The Caribou Coffee site
http://www.cariboucoffee.com/aboutus/ownership.asp

Excerpt:
"Our majority shareholder since 2000 is an affiliate of Arcapita Bank B.S.C.(c)...Arcapita, whose investors are located primarily in the Middle East , makes its investments in a manner consistent with the body of Islamic principles known as Shari’ah. Consequently, we operate our business in a manner consistent with Shari’ah principles and will continue to do so as long as Arcapita is a significant shareholder."

[sitetest]

Dear MrsPatriot,

If you click on FAQ #2, you get:

Who owns Caribou Coffee? Is Caribou Coffee publicly traded?
Caribou Coffee Company became public company with an initial public offering on September 29, 2005. Our stock trades on the NASDAQ National market under the symbol CBOU. Our majority shareholder since 2000 is an affiliate of Arcapita Bank B.S.C.(c).

The first Caribou Coffee store opened on the corner of France Avenue and 44th Street in Minneapolis, Minnesota, in 1992. Today, Caribou Coffee still calls Minneapolis home, but has grown to more than 430 stores across the central and eastern U.S.

For more information, please see our Investor Relations section.

There is a hyperlink there for Arcapita Bank B.S.C.(c).

If you click it, you’ll get this page:

http://www.cariboucoffee.com/aboutus/ownership.asp

From that page, here is an excerpt:

Arcapita, whose investors are located primarily in the Middle East , makes its investments in a manner consistent with the body of Islamic principles known as Shari’ah. Consequently, we operate our business in a manner consistent with Shari’ah principles and will continue to do so as long as Arcapita is a significant shareholder.

In particular, we must comply with Shari’ah principles regarding money that we borrow from other parties. For example, our lease financing arrangement, under which we have obtained financing to fund our operations and expand our business, is structured in a manner that complies with Shari’ah principles. The structure of this lease financing arrangement is described in the prospectus relating to our initial public offering. Also, a Shari’ah-compliant company is prohibited from dealing in the areas of alcohol, gambling, pornography, pork and pork-related products.

Hope that helps.

sitetest

[GiovannaNicoletta]

I almost bought some Caribou coffee the other day.

Thanks for posting this.

[Sender]

Interesting that you mention all the cabs going there. Someone else posted awhile back that he rode in a cab, and the driver had about 20 cell phones, which he answered only in Arabic. What a great vehicle to go everywhere and see everything with no suspicion. Mobile and in contact with many others.

[Sender]

The Mexicans didn’t eat the Anasazi. The Anasazi ducked into a kiva and came out in L.A. Now they drive taco trucks to construction sites.