Jihad Comes to Wall Street
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If you've seen Geert Wilders's film Fitna, you may not have noticed a
single headline amongst all the bombings, beheadings, and earnest
expressions of Islam's eventual world domination: Halal-fund:
investments for Muslims. But the investment vehicles referenced are an
essential part of radical Islam's efforts to insinuate itself into
Western societies in order to destroy them from within. And Wall
Street, barely out of the woods from its disastrous run-in with sub-
prime mortgages — and having lost one of its historic investment
houses, Bear Stearns, in the process — is now chasing the very kind of
"sharia finance" against which Wilders's movie warns, a business line
that may eventually wind up being even more calamitous than the
subprime-mortgage fiasco.
For the growing army of its acolytes, who salivate at the prospect of
tens of billions of dollars in transaction fees from the burgeoning
industry, sharia-compliant finance is seen as little more than a
cuddly Islamic version of socially conscious investment — with ethical
strictures forbidding usury and sin industries, and emphasizing
charity. Indeed, a conference on the subject last Fall co-sponsored by
the Wall Street Journal was titled just that: "Islamic Ethical
Investment." According to this rosy interpretation, sharia finance is
a windfall for capital markets — allowing Wall Street to skim some
foam off the ocean of petrodollar liquidity in the Middle East, and
put it to good use.
Other interpretations are possible, of course. Critics see sharia
finance as a massive subversion campaign by radical Islam designed to
legitimize sharia in the West, to undermine our markets, and
ultimately to imperil our free-enterprise system and national security
— all the while exposing banks to financial risks that make the sub-
prime fiasco look like a walk in the park. For its proponents and
ideological enablers — such as the well known suicide-bombing
advocate, Sheikh Yusuf al-Qaradawi — sharia finance is nothing less
than "Jihad with money." As al-Qaradawi explains, "God has ordered us
to fight enemies with our lives and with our money." Unfortunately for
Wall Street, it's hard to argue with the good sheikh on that score.
Far from being a guide to ethical investment, sharia finance is
indistinguishable from sharia itself.
Sharia is a reactionary-to-the-core medieval Islamic doctrine that
claims control over every aspect of every Muslim's life. It imposes
such "ethical" mandates on Muslims as the obligation to discriminate
against women and non-Muslims; to kill homosexuals, adulterers, and
apostates; to establish and maintain Muslim rule around the world; and
to carry out violent offensive jihad against infidels. Notably, for
those Muslims who cannot engage in physical jihad using force of arms,
sharia requires that they support jihad financially. This is what
sharia finance is all about.
Far from being a legitimate investment vehicle, sharia finance
facilitates religiously sanctioned support for terrorist organizations
— as well as providing radical Islamists with highly paid sinecures as
sharia-finance board advisors in the sanctum sanctorum of capitalism,
all the while that they are pursuing a subversive campaign to destroy
it.
Predictably, none of this is even remotely disclosed by any of the
dozens of Western banks promoting sharia finance today, which
obviously exposes them to huge non-disclosure risks ranging from
fraudulent misrepresentation, to material support for terrorism.
Consider the board chairman of the Dow Jones Islamic Index (IMANX),
one Mufti Taqi Usmani. Mr. Usmani is widely reputed to be one of the
world's top experts on sharia finance. Whatever his stockpicking
abilities may be, they are dwarfed by his jihadist credentials. A key
executive of Pakistan's prominent Deobandi jihadist factory, the
madrassa Darul Karoom Karachi (currently headed by his brother, Rafi
Usmani), Taqi Usmani has openly advocated jihad by Muslims in the
West, and just last month again publicly endorsed suicide bombing and
the Taliban.
Since sharia-finance funds like the IMANX may invest in companies that
are not completely halal — that derive their profit from interest or
other sharia-prohibited activities — returns on investment in those
companies must be purified by donating a portion of that ROI to
charity. More often than not, it is people like Usmani who are paid
lucratively to sit on sharia-finance boards in order to determine what
charities will receive the sharia-finance institutions' donations —
and it's a fair bet that the March of Dimes is not among them.
IMANX itself is owned and operated by the North American Islamic Trust
(NAIT), an organization listed as an un-indicted co-conspirator by the
Department of Justice in a recent terrorism-finance trial, and the
proprietor of hundreds of radical mosques and Islamic institutions in
the U.S., including some that have been closed down by the government
as criminal enterprises.
The chairman of both NAIT and IMANX, Bassam Osman, has been the top
executive of terrorist-funding organizations like the Quranic Literacy
Institute (suspected financiers of Hamas whose assets were seized by
the U.S. in 1998) and the Islamic Academy of Florida (founded by Sami
al-Arian, a convicted financier of Palestinian Islamic Jihad, a
terrorist criminal enterprise), and is a board member of other un-
indicted co-conspirators like the Islamic Society of North America
(ISNA). Is Dow Jones aware of all this? Is Rupert Murdoch? And if they
are not, shouldn't they be?
The IMANX marketing slogan is "Markets Fluctuate. Principles Don't."
Judging by the ideological principles of those involved in its
leadership, that is precisely what Wall Street — and the West — should
fear.
The legitimization of sharia in the West and its gradual imposition in
Muslim communities and beyond is a key objective of sharia finance,
and there is no doubt it has already made huge strides. Indeed, the
precedent of legal sharia-finance transactions was used by the hapless
archbishop of Canterbury to buttress his argument that introducing
sharia in the United Kingdom was unavoidable.
Given the reality of malignant Islamism now spreading into our own
capital markets to the loud cheers of the same Wall Street masters of
the universe who gave us sub-prime mortgage securitization, Americans
have a right to ask: Where are the U.S. Treasury Department and the
SEC, whose job it is to protect our markets? Given the outright
fraudulent misrepresentation of the potential liabilities of sharia-
finance funds under existing regulations, they should get involved
soon.
_________________________________
Author: Alex Alexiev is vice president for research at the Center for
Security Policy.
_________________________________
Comments by Linda Randall of actforamerica.org
WHAT IS SHARIAH LAW AND FINANCE?
WHAT IS SHARIAH LAW?
Understanding Shariah law is integral to understanding the dangers of
Shariah-compliant finance. Shariah law is Islamic law dating back to
the 9th century and is today the law of the land in Saudi Arabia,
Iran, Sudan and the law under which the Taliban operates. However,
with a current population of 1.5 billion Muslims, this translates to a
huge pool of Jihadist recruits and supporters - a base of
approximately 150 - 225 million Muslims.
Shariah law authorities, some of whom are now being paid handsomely by
Barclays, Dow Jones, Standard & Poors, HSBC, Citibank, Merrill Lynch,
Deutschebank, Goldman Sachs, Morgan Stanley, UBS, Credit Suisse and
others have the power to dictate Shariah compliance as deemed by
"scholarly consensus" on matters of finance, family, penal law,
apostasy, and war. Examples of authoritarian Shariah law include:
requirement of women to obtain permission from husbands for daily
freedoms; beating of disobedient woman and girls; execution of
homosexuals; engagement of polygamy and forced child marriages; the
testimony of four male witnesses to prove rape; honor killings of
those, principally women, who have dishonored the family; death to
apostate Muslims who chose to leave Islam; inferior status of non-
Muslims, and capital punishment for those "slander Islam."
ISLAMIC FINANCE - WHAT YOU NEED TO KNOW:
National Security and Financial Risks: Islamists are attempting to
impose Shariah Compliant Finance (SCF) on Western institutions to use
our own financial strengths against us. The most serious problem with
SCF is that it legitimates and institutionalizes Shariah law (i.e.,
Islamic law), a theo-political- legal doctrine violently opposed to
Western values. With $1 -$2 trillion petrodollars annually looking for
an investment home, blind exuberance is driving financial institutions
to adopt SCF, without even a minimal baseline for legal compliance.
This willful blindness, and lack of both transparency and due
diligence may cause SCF to be the next sub-prime crisis, but this time
with deadly consequences.
Legal Risks: Western financial institutions which adopt SCF may have
criminal and civil exposure to claims of aiding and abetting sedition
and the material support of terrorism, securities fraud, consumer
fraud, racketeering, and antitrust violations, as well as exposure to
tort claims for sedition and terrorism, and for the violation of
internationally recognized norms of the law of nations.
Terror Financing Mechanism: SCF as monitored by paid Shariah law
advisors to U.S. banking institutions must "purify" certain return on
investment (ROI) dollars that do not meet Shariah law standards. This
money must be donated to Islamic charities - including some that
promote Jihad and support suicide bombing. Investment disclosures
state that these profits can be as high as 6% of profits of
investments. With $800 billion already in SCF assets, the potential
for billions of dollars to be siphoned off for terrorism is real. This
would be a serious criminal violation of U.S. law.
Consider this example: Shariah Mutual Funds promote themselves as
"ethical funds." To be Shariah-compliant, they donate "tainted"
revenues to Shariah-compliant "charities." A post 9-11 U.S. investor
in a Shariah-compliant "ethical investment" is not told that Shariah
law also requires imposing Shariah as U.S. law, execution of gays and
female apartheid. Is he a victim of consumer fraud? Is this same post
9-11 investor unwittingly funding terror? The government has shut down
the three largest Shariah-compliant charities in the U.S. - the Holy
Land Foundation, Benevolence International Foundation, and the Global
Relief Foundation - after proving they funded terrorist organizations.
The American taxpayer deserves answers to these questions. The Center
for Security Policy (CSP) is meeting directly with members of
Congress, U.S. regulatory agencies and Wall Street financial
institutions in order to ensure the enforcement of existing U.S. laws
on sedition, disclosure, material support of terrorism, and money-
laundering. CSP is committed to revealing the civil liability and
criminal exposure of Shariah law and Shariah-compliant finance.
Below is a list of Shariah Finance compliant banks. One must come to
the conclusion, this is an ever greater threat than Jihadists in
America. If our government doesn't take action soon, then our
inconvenient "recession" will look like a stroll in the park. In an
effort to combat terrorism my family has decided to pull a
considerable sum of money and close accounts of the newest Shariah
compliant bank Wachovia. We will not have our funds in institutions
that support Islamic Terrorism. Become aware of banks and banking
institutions that support Shariah law and Finance. By closing accounts
you have in those institutions, you will know that you are NOT
supporting terrorism against our own people and friends. Note the
institutions below to see if you are currently supporting terrorism!
Shariah Compliant Banks
Asset Acceptance Capital Corporation
Aviva Plc
AXA
Barclays PLC
BNP Paribas Group
Citibank, N.A.
Credit Agricole, S.A.
Deutsche Bank AG
Dow Jones & Company Inc.
Equity Insurance Group Limited
Goldman Sachs Group
HBOS plc
HSBC Holdings plc
INVESCO Perpetual
Julius Baer Group
Maersk Logistics
Merrill Lynch & Co., Inc.
Morgan Stanley
NYSE Euronext
Silicon Graphics, Inc.
Please sign the Petition: http://www.petitiononline.com/qxyz1108/petition.html
Ördög
Only 237 lines of cut and paste, hate propaganda spam.
You'll have to do better than that. You are slacking off lately!
BTW
I just wonder if this kind of verbal trash would indeed give a right
retarded moron an actual orgasm?
---
To change the subject, what is the weather like now in Warsaw?
Are the CIA rendition-torture chambers fully functional? I hope you
aren't overworked!
Ördög (The friendly Hungarian Devil in service of aus.politics and
Usenet)
Either the neocons go or civilisation does!
Doug
damage control for his Islamonazi pig masters. Squeal little Hungarian
mudslum pig! Squeal like the little pig you are!
"Ördög" <tz81...@sneakemail.com> wrote in message
news:40d6b977-d1a0-4442...@n14g2000pri.googlegroups.com...
Ördög
more than just irritated:
> Whoredog/BlowJob Foster .......
You need to take something against that infectious paranoia you
contracted by servicing Helicopter Michi's arse so frequently with
your tongue.
Apparently Mr Foster and I are two quite different posters, no matter
what you imagine to the contrary. You see I belong to a completely
different political block than Mr Foster. If you had any brains (which
you obviously don't) you could pick that right away. The only things
which are common both to me and Foster are our preferences for
moderation as opposed to undue violence. Yes, we take the trouble to
actively fight extremists, like you for instance.
And actually it has almost nothing to do with Islam or any religion in
particular.
> ......is working overtime trying to peform
> damage control for his Islamonazi pig masters.
My overtimes are dedicated to my real job (you know the one, outside
that virtual reality you seem to be completely lost in). Tell me, do
you actual have a real existence outside Usenet?
Now as to the "pig" part of your post I have to say I do like pork in
any form, as a soup, as a roast or as a stew.
You should try it one of these days.
Furthermore I need to resolve the confusion you seem to have about
whom I represent here in this forum.
Unlike you, and unaccceptable to me. The same goes for the actual
Nazis (not your imaginary neologism, that "Islamonazi" nonsense word).
Additionally religion has no hold over me, as I am a strong atheist.
So you see, I represent only myself and the leftist ideals and ideas.
But don't let facts ruin your whinge.....
> Squeal little Hungarian mudslum pig!
My my! A single sentence and so many mistakes.
The only thing you've got right is the fact that pigs indeed do squeal
(and otherwise protest) when someone tries to irritate them. That is
why you should urgently stop attempting to have sex with them.
Now let me deal with your assertion that Hungarians are Muslims.
http://www.indexmundi.com/hungary/religions.html
http://www.faqs.org/docs/factbook/print/hu.html
I'd wager that you would be hardly pressed to try to come up with too
many Hungarians intending to convert to Islam outside the very few
misfits existing in all societies.
Finally I'd like to to point out a huge mistake in your concept of me:
I am in end effect no more Hungarian than you are.
I regard myself fully as an Australian in my allegiance, so my family
heritage and personal origins are quite irrelevant here. My sign is
only designed to point out the "origins" of the word "Ördög".
Having said that, I do possess a lot better understanding of Central
European culture and history that you do.
> Squeal like the little pig you are!
Why should I do such a stupid thing?
I have no intention providing any support for your sexual perversions.