Tag Archives: Sharia Finance

If there’s no place for sharia in Australia, then why is this “conference” not banned?

Amanie Australia Islamic Finance Forum 2013

Islamic Finance in Australia: Opening New Islamic Investment Opportunities

‘Guest of Honor’ is dhimmi in chief  Bill Shorten, Financial Services Minister (this guy is a menace!)

With the success and rapid growth of Islamic finance, and the recent granting of the first Islamic finance AFSL licence in Australia, the time is optimal for us to proudly host our next major international event in Melbourne, Australia. We are proud to announce the 1st Amanie Australian Islamic Finance Forum, to be held on Tuesday, April 16, 2013.  (Continue Reading)

Meanwhile,  PM JuLiar Gillard is vote whoring on the culturally enriched side of town. She calls it the “heartland” and is prepared to even sleep there. Her houseboy will be pleased.   Gillard’s expedition to Rooty Hill will cost her

Islamic law used to dodge stamp duty

Sharia banking:  part of economic jihad, designed to collapse the financial system of the West.

This latest outrage  just shows how wrong it is to discriminate in favour Muslims, why should Muslims get tax breaks not available to non-Muslims? In other words, why should non-Muslims have to pretend to be Muslim to get the same tax breaks? This is how sharia finance helps da’awa and the Islamic goal of a global caliphate.

U.K.: Home buyers posing as Muslims to avoid stamp tax under Sharia

The convoluted, Rube Goldberg-worthy process described below, which affords preferential treatment to those who invoke Sharia, lends itself to any number of foreseeable abuses. Here is one. “Islamic law used to dodge stamp duty,” from the Daily Express, March 21 (thanks to JW):

Related links:

Continue reading Islamic law used to dodge stamp duty

Is this the death of sharia finance?

Gulf News

Qatar’s central bank has ordered commercial banks to close Islamic banking operations by the end of 2011.

Australian Assistant Treasurer Senator Nick Sherry must be heartbroken…..

Qatar’s central bank has ordered commercial banks to close Islamic banking operations by the end of 2011. The central bank reportedly issued a circular on February 1, saying “it has been decided to terminate the activities of the Islamic finance services” offered by conventional banks. The order is effective immediately but provided lenders with a grace period until December 31 to shut Islamic banking operations.

Banks affected by the directive include Qatar National Bank, HSBC, Doha Bank, Commercial Bank of Qatar, Al Ahli Commercial Bank and International Bank of Qatar.

Related:

Continue reading Is this the death of sharia finance?

Gangland Chicago: Sharia Ponzi Scheme Goes Belly Up

Three men charged in Islamic-based Ponzi scheme

Sharia banking fails again. So should the perps be sentenced under Islamic law?  But wait: doesn’t their “Religion” permit them to lie, cheat, and commit fraud, as long as the victim isn’t of their faith?  Questions, questions…. so what if most of their victims are Muslims? In that case, should the perps be stoned, hanged, quartered or beheaded?

Most important, what would Muhammad do?

(Chacago Business)

Three owners of a Chicago-based real estate development firm have been charged with fraud for allegedly cheating investors out of $43 million while claiming to be compliant with Islamic law.

Continue reading Gangland Chicago: Sharia Ponzi Scheme Goes Belly Up

Cory Bernardi vs Sharia Finance, Sharia Courts & PC Police

Islamic court would be needed for rulings on Sharia finance

Australian Conservative/thanks to Mullah

The political correctness (PC) police must be reeling. After months of personal attacks on me for daring to state my security concerns about the burqa, one of the left’s political pin-ups, US Secretary of State Hillary Clinton, has stated that banning the burqa has merit.

Now Ms Clinton and I probably don’t agree on that much but somehow I feel that the journalists and taxpayer-funded radio commentators won’t be launching the same salvo against her as they did me.

Not that I care too much for what these self-styled opinion-makers write. Their track record of accurately reflecting community concerns is less than stellar.

Related links:

I faced another attack by the PC police this week for daring to question why we would be amending our laws and regulations to facilitate the introduction of Sharia law for financial products.

Continue reading Cory Bernardi vs Sharia Finance, Sharia Courts & PC Police

Because it failed everywhere else, Westpac bank to offer Islamic finance in Australia

Australians have a habit of betting on two flies crawling up a wall. Aussie banks have a long, nasty record of squeezing their captive clientele with exorbitant interest rates, fees and charges,  and then squandering  the ill gotten gains on idiotic scams abroad.

Some Aussies are really obsessed with being  GLOBAL PLAYERS, ask Kevin Rudd!

Written by Oliver Wagg /Ethical Investor

Sharia financier Bloomberg with Islamic headbanger

Westpac Banking Corp (ASX: WBC) has launched what it claims to be Australia’s first Islamic financing tool for institutions, designed to facilitate commodities trade for Middle Eastern and Malaysian investors. The bank’s  institutional bankers have developed a Special Interbank Placement for Islamic institutions, allowing Islamic investors to buy iron ore and other commodities forward using Westpac’s strong balance sheet without the counterparty risks of a doing a direct deal with a supplier. Ethical Investor will be publishing a special edition on Islamic finance in April. For further details contact the editor.

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Continue reading Because it failed everywhere else, Westpac bank to offer Islamic finance in Australia

Sharia Finance A Huge Flop in Britain

Assistant Treasurer, Senator Nick Sherry:

“… misinformed  members of our community are  putting forward negative views about Islamic finance. These have been small in number but they have come in and they are of concern…”

(Read his full speech is on his website):

Pass it on to Australian federal minister Nick Sherry, who is totally befuddled with sharia finance, as you can see here and here. The Australian Dimwit Monitor bestowed Nick Sherry & his fellow traveler Simon Crean with the Aussie Dhimwit of the Month award (April 2010) for their  brainless support of  jihad finance, which, in a more enlightened society, would have every reporter in the land lick his chops and go in for the kill.

ISLAMIC bank accounts and other financial products have failed to take off in Britain, according to industry insiders.

Simon sez  ‘We could become just like the UK…..’

(You are a true visionary, Simon. We can’t wait to be ‘just like the UK..”)

The Australian

This is despite hopes that the UK would become a pioneer in a new growth market.

New banks that were set up to appeal to the UK’s nearly two million Muslims and Sharia-compliant products created by the existing high street lenders have failed to make much of an impact, critics say.

Junaid Bhatti, part of the team that set up Islamic Bank of Britain, the first Sharia-compliant bank approved by the Financial Services Authority, says that the sector has been a big disappointment.

Continue reading Sharia Finance A Huge Flop in Britain

Suckers for Sharia Finance

This pig will never fly, no matter how much lipstick they put on it:

Sharia-compliant banking products a ‘huge flop’ in Britain

Junaid Bhatti, part of the team that set up Islamic Bank of Britain, the first Sharia-compliant bank approved by the Financial Services Authority, says that the sector has been a big disappointment.

As we now approach the sixth anniversary of IBB’s launch, I’m sad to finally have to admit that Islamic finance in the UK has been a huge flop,” he said. “IBB may still be limping on as probably the last bastion of the cause, but it’s difficult to imagine it holding out for much longer.”    The Wall Street Journal has the story>>>

Sharia finance and Australia

Australian Assistant Treasurer Senator Nick Sherry

Australian official promises “steps to ensure Islamic finance is enabled”

by Bill Muehlenberg/Quadrant Online

June 10, 2010

All over the Western world governments are bending over backwards to accommodate sharia finance. This is an interest-free (?) banking and finance system which Muslims want to have run in Western nations as a parallel economic stream.

The UK leads the world in this, but Australia and other nations are seeking to get their share of the action. Consider a speech made by Australian Assistant Treasurer Senator Nick Sherry on April 27 in Doha, Qatar. He told his Muslim audience how keen Australia is to embrace sharia finance.

Let me quote a portion of Sherry’s speech:

On 15 January this year, the Government released the final report of this process, known as the Australia as a Financial Centre (or the Johnson Report). The report concluded that Australia has arguably the most efficient and competitive financial sector in the Asia-Pacific region, but there are further opportunities to expand our exports and imports of financial services.

And it made a range of important recommendations, including specific steps to ensure Islamic finance is enabled in Australia. And that’s exactly what I now want to address. The competitiveness of Australia’s financial services sector offers great opportunities for Islamic banks and financial institutions to do business in our country, or to export their products to Asia from a strong, stable and extremely well regulated regional base.

Continue reading Suckers for Sharia Finance

Sharia Finance, the Answer to All Our Ills, Right…?

Hey, Dubai, how’s that shariah compliant finance going? Dubai World restructures $23.5 billion in debt

The shell game that is shariah compliant finance is coming to an end, “Dubai World reaches $23.5b debt deal with banks“:

Government-owned conglomerate Dubai World said on Thursday “headline economic terms” have been agreed in principle with its financial creditors on the restructuring of $23.5 billion of liabilities.The agreement was reached between the Coordinating Committee (CoCom) representing 60 per cent of Dubai World’s creditors and the Government of Dubai.

Since Dubai World presented its restructuring proposal on March 24, the company has refined the proposal to “modestly enhance” one component of the repayment package, it said in a statement.

Dubai World is the group that tried to take over six US ports in 2006 and is the developer of the Palm Islands project.

Save us from our saviors:

Sharia finance & the ‘global worming’ scam are still breathing:

Pleased with KRudd:   Aubrey Joachim, the “global” president

The Australian/Hat tip Mullah

“Australia has a chance to lead in Islamic finance”

Aubrey Joachim is (still) selling the snake oil that works so well for Arabia. But its not as if he doesn’t have a dog in this fight: scroll down to the bottom of this page to see what he really does.

IT is heartening to learn that the Rudd government is waking up to the benefits of developing the Islamic finance sector — and not before time. Australia is ideally positioned to challenge Malaysia and Indonesia as a financial hub for this burgeoning industry but it will have to act quickly.

Stimulus, anyone?

Continue reading Sharia Finance, the Answer to All Our Ills, Right…?

PIGS

“PIGS’ stands for Portugal, Italy, Greece and Spain.

These countries are in deep doodoo.

Financially, that is. Desperation makes strange bedfellows.

The sooner the EUrabian utopia and the Brussels circus collapses, the better.  The hangover will be painful, and the measures to reverse the idiotic megastate  allures of the Brussels bureaucrats  will cost dearly, but it will happen.

For now, however, HOPE still beats  reality, and Spain, one of the PIGS states, is trying a new trick that will only exacerbate the disaster. We only need to look towards the US to see how all that hopenchangin’ is working out. Sharia finance cannot work and will not work. The concept  doesn’t even work in Arabia. It is unworkable. But Western politicians, most of whom never held a job and couldn’t run a coffee shop, are selling the future of our kids down the gurgler. Signs of things to come:

Spain to be hub of Islamic finance – Examiner

Richard Shulman

Spain is close to the Islamic world, a gateway to Europe, and a connection with Latin America.  Saudi Arabian businessmen plan to establish Spain as a hub of global Islamic finance (IMRA, 4/27/10).

Islamic rules of finance are laid down by Sharia, Islamic law.  As I have reported, a speaker at a rally in New York explained that Sharia requires Muslim business to donate to charity, but these charities often are terrorist fronts.  Does the Spanish government realize this?  Does Spain know that Islamic doctrine holds that areas formerly conquered by Islam, including Spain, must be returned to Islam?  The same goes for Israel, but the Spanish king, Barry Chamish points out, has been traveling all over for years, on missions to assist Muslim claims to Israel.  He would be better advised to work with Israel to preserve his own country.  His country faces not just a simple change of religion, as it would be for, say, leaving Catholicism and entering Protestantism, but a loss of freedom and all sorts of cultural restrictions.