Simple Simon sez: "the big opportunity is in Islamic finance because there is a whole population out there that is based on Islamic law…”

Simon Crean: Are You Really That Dumb?

“The big opportunity is in Islamic finance because there is a whole population out there that is based on Islamic law.”

Can you imagine? Is this  senile labor dick  totally oblivious to the fact that Australia has but ONE law for all? What’s next? A two state solution?

Look no further: the usual suspects are selling the birthright of your children for less than a song: Simon Crean, a leading dimwit in ignorance, stupidity and cupidity: instead of being gatekeepers the lefty labor loons open the floodgates,  encourage subversion, sedition and infiltration. “Islamic Finance” is a chimera. The Arabs never had a  financial system to speak of. Islamic finance is an invention by Sayyib Qutb, founder of the Muslim Brotherhood. It legitimizes the zakat which is used to finance the global jihad.

What did they promise you, Simon? How much did it cost to make you complicit, to aid and abet the  global jihad? Do you have the faintest idea what you are doing?

Related links:

Islamic Banking – Reality and Myth

ERIC JOHNSTON/The Age/thanks to Mullah

WESTPAC is poised to bolster its exposure to the fast-growing Islamic finance market by offering a commodity trading facility intended for overseas investors operating under the principles of Islamic law.

Islamic finance prohibits the earning of interest. Instead, there is a focus on profit sharing based on the buying and selling of tangible assets such as property.

The move by Westpac, which targets Islamic institutions, coincides with a new emphasis by the Australian government on Islamic financing.

Trade Minister Simon Crean will today launch a study outlining opportunities for the nation’s financial services sector to tap investment and banking markets that comply with Islamic law.

This comes on the heels of a recommendation last month by a government-backed finance taskforce that called for tax rules to be overhauled to ensure that Islamic financing products were given equal treatment.

The Australian Financial Centre Forum, which released a broader report into the nation’s finance sector, highlighted Islamic financing as a potential funding source for the nation’s banks.

The global market for Islamic financial services, which has grown rapidly in recent years backed by surging oil prices, is estimated to be worth close to $1 trillion.

The issue of sukuk – the Islamic alternative to conventional bonds – is in excess of $50 billion a year.

”Accessing this market could increase the diversity of the sources of capital available to Australian businesses and consumers,” the Australian Financial Centre Forum said in its report.

Mr Crean said Islamic financing represented a key plank in the government’s strategy to make Australia a financial hub in the Asia-Pacific region.

“Continued growth in major Asian economies will create a need for resources-related services and infrastructure, which are ideal assets for forms of Islamic financing,” Mr Crean said.

All the major Australian banks now provide Islamic-style banking products for retail investors.

Meaning what exactly? That they all run like lemmings over the cliff?

8 thoughts on “Simple Simon sez: "the big opportunity is in Islamic finance because there is a whole population out there that is based on Islamic law…””

  1. I just watched this guy deliver his reasoning on T.V. tonight [yes, ABC]and thought “You idiot, you have got no idea of what you are allowing into this country.”

    Bring on the elections this year and turf this rubbish out!

  2. Notice this was slipped in while the attention was focussed on Peter Garrett … “It belongs to allah … lets give it back”

  3. Crean’s speech, launching Austrade publication Islamic Finance:

    [I am pleased to launch Austrade’s new publication on Islamic finance today.

    And I’d like to give a warm welcome to the visiting Islamic finance delegation from the United Arab Emirates.

    I am also pleased to be here for the launch of Westpac Institutional Bank’s Special Interbank Placement for Islamic institutions – a solution specifically developed for Islamic investors.

    Islamic or Shariah-compliant finance offers significant investment opportunities for the Australian financial services industry and a competitive source of offshore capital.

    As Trade Minister, I have taken a great interest in promoting the expansion of Shariah-compliant finance into Australia, as part of a push to elevate Australia’s sophisticated, efficient and highly skilled financial sector to the world stage. ]

    I guess sharia law trumps Australian law now, Simon?

  4. This guy is a Clown he has already a red nose of a Clown,perhaps it is because he has read the comic book called the Quran …it changes the DNA,it is well known and well documented.

  5. The Labour Government has always been the party of dickheads and buffoons, but, how do you get the donkey vote to realize just what these assholes are doing to our beautiful country. The floodgates are opened wide, with a surge of boats arriving daily with people who can never be an asset to Australia. If all else fails, bring back Pauline Hansen to keep the bastards honest. Selling out our principles and our country to the muslims for finacial gain, Crean, you must be joking.

  6. People should cancel their accounts with Westpac and change to another bank and let Westpac know their reason for leaving.

  7. Sorry to burst your bubble.

    The NAB already went ahead with it, thanks to this gentleman: Ahmed Fahur

    Fahour to head global Islamic bank

    ONE of Australia’s major banks is planning to introduce “Muslim-friendly” loans that do not charge interest, to comply with Sharia law.

    ONE of Australia’s major banks is planning to introduce “Muslim-friendly” loans that do not charge interest, to comply with Sharia law, The Sunday Telegraph reports.

    Instead, the National Australia Bank will structure an Islam-approved line of finance to make money from alternative methods.

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