Islamic Banking

The Salafis Daddy Warbucks – Saudi Arabia

Tuesday, December 15th, 2015

The first-ever global meeting of  the Financial Action Task Force (FATF) network of some 200 jurisdictions over the weekend in Paris, “to  discuss actions…to combat the financing of the Islamic State of Iraq and the Levant (ISIL) …and to combat the financing of terrorism,” will probably make the participants feel... ...

The Obama Persian Mystery

Monday, March 2nd, 2015

Obscured by all the hullabaloo over the Congressional speaking invitation to Israeli Prime Minister Benjamin Netanyahu is the more fundamental mystery of the Obama Administration’s Iranian strategy. Laying aside the increasingly evident incompetence of the political hacks, wordsmiths and other amateurs the President has surrounded himself as foreign policy advisers,... ...

The Muslim Brotherhood: Breaking Rice Bowls

Tuesday, July 22nd, 2014

“Wealth and children are an ornament of life of the world.” Sura 18:47. Let no one doubt. Within Islam, no censure is assigned to the personal accumulation of wealth.  And no known member of the Muslim Brotherhood (Ikhwan al-Muslimun) has been condemned for either the pursuit or the accumulation of... ...

Is Economic Inequality Behind Rising Global Jihad?

Thursday, June 26th, 2014

History has shown for millennia that grotesque disparities in wealth and power, and ownership of resources, are unsustainable in the long run. I see ISIS as merely the visible tip of a regional economically-based unrest based ultimately upon wealth disparity generally, and in Iraq exacerbated by the malign effects of... ...

Islam and the Other: The al-Wala’ wal-Bara’ Doctrine

Sunday, February 23rd, 2014

Given the U.S. capitulation to Iran, the growing American and European pressure on Israel to relinquish its national security and identity as the Jewish state in favor of the Palestinians, while Syria has become the training “melting pot” for Islamist terrorists the world over, it is vital to understand the... ...

What They Don’t Tell You About Islamic Banking

Saturday, February 1st, 2014

Islamic banking is erroneously viewed as an ancient practice. “Neither classical nor medieval Islamic civilization featured banks in the modern sense, let alone ‘Islamic’ banks,” notes Timur Kuran, professor of economics and law at the University of Southern California. Reports by Islamic banking scholars, the IMF, or the Congressional Research Service do not mention that... ...

Printemps Arabe: Obama Va-t-il. Payer La Facture?

Wednesday, October 16th, 2013

Printemps Arabe : Obama Va-t-iL Payer La Facture ? Arnaud Dotezac, Directeur des Rédactions, Market L’histoire retiendra que George W. Bush pu renverser la dictature irakienne à prix d’or (plus de 3000 milliards de dollars) et que Barak Obama aura préféré l’option low cost des Printemps arabes. Pour autant les... ...

Shari'a And Islamism, Shari'A Banking And Finance

Thursday, November 17th, 2011

Today’s articles include a good sampling of thoughtful pieces on Shari’a and Islamism.  There is also some troubling news from Britain, Canada, Malaysia, Nigeria, Egypt, and Libya.  And, yes, the United States, too—including a potential security breach.  U.S. Department of Homeland Security Advisory Council member Mohamed Elibiary is alleged to... ...

The Muslim Brotherhood Evolution: An Overview

Tuesday, April 19th, 2011

The mass demonstrations that brought down the Hosni Mubarak regime might not have been started by the Muslim Brotherhood, which successive Egyptian governments had banned since 1954, but that well-funded and organized opposition group was quick to take advantage of the popular protests. Their endorsement of the demonstrations and their... ...

Anwar Ibrahim's Islamic Banking Agenda

Wednesday, December 15th, 2010

On her recent visit to Malaysia, Secretary of State Hillary Clinton lauded Malaysia’s “creative approach” to Islamic banking. She also intervened on behalf of Malaysia’s “de-facto” opposition Islamic Party leader, Anwar Ibrahim, on trial for sodomy and corruption. Apparently recent Wikileaks State Department released cables with information alleging Anwar’s careless sexual behavior, did... ...

Clinton's Moderate Islamist

Monday, November 22nd, 2010

U.S. Secretary of State Hillary Clinton’s conduct during her recent visit to Malaysia was anything but diplomatic. In a press conference hosted by Foreign Minister Anifa Aman, Clinton took the unusual step of siding with opposition leader, Anwar Ibrahim. Anwar is on trial for corruption and sodomy charges, which he... ...

Is Sharia Banking Safe For Canada?

Thursday, April 29th, 2010

With the Canadian Mortgage and Housing Corporation releasing a report this week that may pave the way for widespread availability of Islamic financial instruments in Canada, including Sharia-compliant mortgages, an expert on Islamic banking is cautioning that Canadians should examine the implications of implementing the report’s recommendations. Dr. Rachel Ehrenfeld,... ...

Ehrenfeld/Abady: Islamic Banking – Is Treasury Complicit?

Thursday, December 11th, 2008

If “cash is king,” then Middle East coffers are irresistibly enticing. During a recent tour of Saudi Arabia and the Gulf states, Deputy Treasury Secretary Robert Kimmitt applauded the “growing role” of Arab banks in the U.S. economy. Treasury is seeking buyers for its newly acquired bailout assets because more... ...

The Fifth Generation Warfare

Friday, June 20th, 2008

[From Armed Groups: Studies in National Security, Counterterrorism, and Counterinsurgency; Edited by Jeffrey Norwitz; U.S. Naval War College, June 2008, chapter 28.] The United States and the West cannot win the war against radical Islam merely with the most sophisticated military strategies. Winning requires understanding the role of shari’a and... ...

Shari'a Financing And The Coming Ummah

Thursday, June 5th, 2008

Chapter 28, Armed Groups: Studies in National Security, Counterterrorism, and Counterinsurgency; EDITED BY JEFFREY NORWITZ, FOREWORD BY ADMIRAL STANSFIELD TURNER, U.S. NAVY (RET) AND FORMER DIRECTOR OF CENTRAL INTELLIGENCE. U.S. Naval War College, June 2008. The United States and the West cannot win the war against radical Islam merely with... ...

America For Sale

Tuesday, April 1st, 2008

As the U.S. and Western markets plummet and the U.S. dollar continues its free fall, sovereign wealth funds (SWF) gobble up prime financial institutions, industries and real estate in the U.S. and the West. Given concerns regarding the political influence of such wealth, the U.S. Treasury, together with Abu Dhabi... ...

Tithing For Terrorists

Friday, October 12th, 2007

“Governments have political considerations,”“ said senior N.Y. Senator Charles Schumer, upon learning in September that Bourse Dubai intends to buy 20 percent of NASDAQ. Republican Senator Bob Bennett of Utah countered, saying, “Dubai is making a purchase on the open market of an asset that’s for sale. What’s wrong with that?” Senator Bennett... ...

The Camel In The Tent

Monday, October 8th, 2007

Objections to Borse Dubai’s proposed acquisition of 20 percent of Nasdaq last week prompted Massachusetts Rep. Barney Frank to quip, “In the ports deal, the concern was smuggling something or someone dangerous… What Adinare we talking about here ˜ smuggling someone onto a stock exchange?” It is not “who” Dubai... ...