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Tuesday, September 7, 2010

Royal Bank of Canada - pioneer in shariah finance compliance? YES .......... Part V

(Continuance of my research into Canadian financial institutions aka Canadian Financial traitors)

Oh yeah !!  So, we are proud of our Royal Bank of Canada, right ?!!   Did you know that Canada's foremost bank was also Canada's foremost traitorous bank bringing in the Trojan Horse full of islamic goodies whether your palate desired such or not?  Way, way back in mid 2004 is when they decided to open their doors  to the shariah lovers.  The man spearheading this effort was Andrew Tice, Middle East regional director.  The product is called "RBC Shariah-Compliant Equity-Linked Note". RBC aka Royal BackStabbing Crooks tailored shariah compliant products especially for the muslim segment in Canada. Why is that RBC?

RBC has Canadian-Chinese, Canadian-Indian, Canadian-Koreans, Canadian-"and everybody else hypenated" as their clients as well.  How about creating products that give Fixed Deposits an interest of 10%+  that is enjoyed by Chinese and Indians in their own banks in China and India?  Oh... do I hear you saying, that's in China and India not in Canada???   Okay.... I fully agree with that logic.  Now how about you telling us why Muslims get sharia compliant products here in Canada, products that they were enjoying in their muslim countries but which products have also followed them into your bank   Can you do that ???

....The Shariah Finance Group at RBC Capital Markets developed the initiative, which has been approved by three independent Shariah scholars. These experts - Shaykh Nizam Yakuby from Bahrain, Shaykh Yusuf Talal DeLorenzo from the United States, and Shaykh Dr Mohd Daud Bakar from Malaysia - are internationally recognised as authorities on Islamic finance, and between them advise many banks, governments and other institutions. All three are on the Shariah Supervisory Board of the Dow Jones Islamic Market Index.

"At RBC, we don't believe that investors should lose opportunities to make their capital work for them because of their personal faith," said Tice. "With the Dow Jones Islamic Market Index tracking Shariah-compliant stocks internationally, we are able to offer Canadian-Muslim investors a potentially high-yield investment opportunity that is compatible with their obligations under Islamic law."...

Andrew Tice and the RBC are not done licking muslim butts. No sirreee !!! Since then they have introduced more shariah products and they are ever so very proud of their actions: In 2008, there's  this info at this link And there's more here and here
RBC Capital Markets' Shariah Finance Group (SFG) is the global Islamic finance platform for one of the world's largest providers of financial services - Royal Bank of Canada - and is the only business unit of its kind among Canadian banks. Offering a broad range of Islamic finance solutions to leading corporations, governments and institutions worldwide, SFG draws upon the product expertise of RBC Capital Markets and couples it with three of the most renowned and respected Shariah scholars in the field of Islamic finance and investment.

In February, Royal Bank of Canada hired Zaher Barakat, who teaches Islamic banking and finance at Cass Business School in London, as head of financial products for the Middle East. RBC is targeting a variety of clients in the region, including sovereign wealth funds, private banking arms of local banks and government pension funds. While the priority is to market the bank’s existing services and products into the Middle East, RBC is planning to enter the Islamic finance market, Mr. Barakat said. “We are working now on one fund to transform it to be sharia-compliant,” he said.

Search as I might to find more information on the websites of both RBC main and RBC Capital Markets, I got only this.
Why are their shariah compliant products not showing up in the searches? Are these provided only to their muslim customers and provided in secret? What is going on??????

Dear fellow Canadians, we are being betrayed by the very organizations and individuals you hold in high regard.  Never consider yourself to be too small and insignificant and unable to change the course of events. YOU CAN if you really so desire it for yourself and those who will follow in your footsteps. Write to your local MPs and the Finance Dept. Let your voice and opinions be heard.  It is NOT too late to repair the damage already done by traitorous forces.  But WE MUST ACT NOW.

Write to:
Minister of Finance
The Honourable James M. Flaherty
Department of Finance Canada
140 O'Connor Street
Ottawa, Ontario K1A 0G5 or email him at: jflaherty@fin.gc.ca

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