The War.

FREEDOM & DEMOCRACY for ever!!

sobota 15. září 2012

About Shariah Finance - part II.

How is shariah related to jihad?
The mu’amalat part of shariah mandates as a religious obligation, conducting violent jihad against non-Muslims to establish Islam’s rule worldwide in a form known as the caliphate.
How does shariah finance relate to shariah itself?
Shariah finance is indistinguishable from shariah itself, since its followers consider shariah immutable, indivisible, and mandatory for Muslims to follow in all aspects of life. Muslims are not allowed to pick and choose different aspects of shariah to follow. Anyone that infers that shariah finance is something apart from shariah is simply being dishonest. In fact, the main purpose of shariah finance is to promote shariah.
Where is shariah-compliant finance most prominent?
According to the November 2007 edition of The Banker, Iran dominates the world of shariah-compliant finance. Three of the five largest shariah-compliant financial institutions in the world—including the top two—are Iranian. The amount of shariah-compliant financial assets in institutions in Iran is over twice as large as the amount in financial institutions in the world’s second largest shariah-compliant country, Saudi Arabia.
How does shariah finance threaten Americans?
Shariah finance is a threat to Western values, human rights and US national security. Shariah finance has a political objective: to legitimize shariah in the West. Evidence indicates that shariah-compliant finance provides financial support to extremism and terrorism. Shariah-compliant financial institutions employ shariah scholars, many of whom have been shown to be extremists, even to the point of advocating suicide bombing and jihad against America. Among the decisions these scholars make is the donation of 2.5% or more of annual earnings to Muslim charities. Similar to zakat, earnings from investments that are judged to have been unislamic must be purified through donations to charities as well. Given the extremist tendencies of these scholars and the fact that no fewer than 27 charities have been designated as funding terrorism by the US Treasury Department, this presents a hazard which could obviously threaten US national security.
In sum, shariah finance represents a number of potential threats to the US, including possible financing of terrorism and extremist Islamist organizations and movements, infiltrating our financial markets and legitimizing shariah.
Have shariah-compliant financial institutions been tied to terrorism?
There are a number of well-documented cases in which shariah-compliant financial institutions have participated in the financial support of terrorism. For instance, two shariah-compliant banks registered in the Bahamas, Bank Al-Taqwa and Akida Bank, were, according to the US Treasury Department, shell companies actually run out of Italy and Switzerland, whose only real business was laundering money to terrorists. From 1988 until November 2001 when it was designated a terrorist entity by the US government and the UN, Bank Al-Taqwa transferred tens of millions of dollars to HAMAS, Al Qaeda, the PLO, Algerian Armed Islamic Group (GIA), the Taliban, Egyptian Gama’a al Islamiya and the Tunisian An-Nahda.
In another case, prominent members of the Saudi royal family were co-investors with Osama Bin Laden in the Sudanese Shamal Islamic Bank while several designated terrorists maintained accounts there

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