Shariah Finance

Truth for Muslims ^ | December 2008 | Allen Reed

[BigFinn]

The real estate market has crashed. The stock market has crashed. The banking sector is in shambles. Unemployment and underemployment is rising. There’s a liquidity problem making it difficult for companies to obtain necessary capital to expand their businesses and thereby increase employment. The US borrows over $700 billion a year from China and we end up transferring that money to the Saudi’s and the Middle East in the form of petro-dollars, also reaching $700 billion a year. It’s an interesting number as the federal government just agreed to spend $700 billion in taxpayer’s money to “fix” the current problems. But will it?

[BigFinn]

Under Shari’ah all Muslim possessions are simply held in trust for the Allah.

Remember the words of the enemy. “A universal Islamic banking system is a jihad worth pursuing to abolish this slavery [to the West].” (Malaysian Prime Minister Mohamed Mahathir, 2002 in Kuala Lumpur.)

Have an account with...

Citibank
Dow Jones
Standard & Poor's
Goldman Sachs
Wachovia
JP Morgan Chase

Just a few becoming Shariah compliant.

[skeeter]

We can thank environmentalists in part for this islamitization of finance in our country. We could be pumping our own oil right now.

[LurkedLongEnough]

For the schloarly inclined; interesting note about NASDAQ in this, considering reported Madoff Jewish ties?

Excerpt from Shari'a Financing and the Coming Ummah

Shari`ah is the crucial source and ultimate authority dictating the actions of practicing individuals and radical Muslim states and movements alike. Failing to understand the political use of shari`ah hampers the US ability to mount effective policies, plans, and strategies to successfully counter this fast-growing totalitarian threat.

This ignorance is illustrated by the statements of Massachusetts representative Barney Frank and Utah senator Bob Bennett. Responding to opponents of Bourse Dubai’s then-proposed acquisition of 20% of NASDAQ in September 2007, Frank quipped, “In the ports deal, the concern was smuggling something or someone dangerous... What are we talking about here” – smuggling someone onto a stock exchange? Similarly, Bennett said, “Dubai is making a purchase on the open market of an asset that’s for sale. What’s wrong with that?”