How Canadian banks are becoming sharia finance compliant ......... Part III

Today... let's take a look at how much sharia finance has advanced strongly and taken root deeply in our backyard.... the mighty empire of the USA.  No Western nation is immune to the claws of this deadly ideology spreading it's poisonous roots into the very hearts of nations... their  financial institutions.  Do you really and truly believe this is all above board and innocent and nothing to worry about?   If you do, I envy you your fluffiness of both thought and intelligence... at least you will die happy knowing nothing of value and substance.  Many of us who know the clear and present danger we are facing, feel frustrated with nitwits like you.... but hey... each one to their own opinions and in your case,  delusions.

.....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................

...Sharia-compliant finance (SCF) is now a thriving American industry. Sharia is Islam’s authoritarian legal framework. It aspires to control not merely spiritual life but all aspects of society, including economic matters. The purpose of SCF is to advance that mission in two important ways.

First, SCF legitimizes the incorporation of sharia into our legal system, despite the fact that many features of Islamic law are anti-constitutional. That is, once sharia governance is accepted in principle, Islamists shrewdly figure the skids are greased for imposing sharia tenets on other aspects of our national life (e.g., domestic relations, employment matters, criminal law, etc.). Second, because sharia is a discriminatory system, SCF promotes Islamist ideology and enriches Muslims at the expense of non-Muslims by controlling investments and “purging” interest.

Companies that practice SCF, including AIG, retain advisory boards of sharia experts. These boards, which often include Islamist ideologues, tell the companies which investments are permissible (halal) and which are not (haram). AIG’s “Shariah Supervisory Committee” includes a Pakistani named Imran Ashraf Usmani, who is the son and student of Taqi Usmani, a top cleric (a “mufti”) and a globally renowned sharia-finance authority. The mufti is author of a book that features a chapter urging Muslims in the West to engage in jihad against the countries in which they live.....

h/t: to a reader of my blog