Sharia-Compliant Finance Funds Jihad

Turn your clock back 70 years. Imagine that Wall Street banks and brokerages sold Nuremberg-compliant bonds and stock funds in 1938. American Nazi sympathizers bought financial instruments certified by Berlin-based advisors as free of “Jewish profits” from, say, Salomon Brothers and Bloomingdale’s.

In turn, a percentage of such funds’ gains underwrote pro-Nazi charities, like the German-American Bund, and similar organizations in the Fatherland, like the Hitler Youth.

Seventy years hence, an analogous outrage grows on Wall Street, only this time for real.

Sharia-compliant finance (SCF) is expanding among banks and securities houses eager to absorb the hundreds of billions of petrodollars cascading into the Middle East.

SCF goes far beyond marketing to Muslims and Middle Easterners. IIFM lists “wider sharia acceptance” among its goals. Selling sharia-compliant investments legitimizes a barbaric theocratic orthodoxy that should be defeated, not promoted... [snip]

*In 2002, Caribou Coffee had to explain the ties between its Atlanta-based sharia-compliant owner, Arcapita, Inc., and Arcapita’s sharia advisor, Yusuf Al-Qaradawi. He had defended “our brothers and children in Al-Aqsa and the blessed land of Palestine generously sacrificing their blood, giving their souls willingly in the way of Allah"

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*According to “The Tax Lawyer,” Yasin al-Qadi -- an investor in one Hamas-connected, sharia-compliant company called BMI (not the perfectly legitimate Broadcast Music, Inc.) -- transmitted $820,000 to Chicago’s Quranic Literacy Institute in 1991. QLI employee Mohammad Salah confessed in 1995 that he trained recruits to handle assorted toxins and “basic chemical materials for the preparation of bombs and explosives.”

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* The North American Islamic Trust owns 69.8 percent of the Dow Jones Islamic Fund. The Justice Department identified NAIT last June as an unindicted co-conspirator in supporting Hamas’ murderous anti-Israeli terrorism. NAIT also owns Albany, New York’s Masjid As-Salam mosque. In April 2007, its founder, Mohammed Mosharref Hossain, and imam, Yassin Muhiddin Aref, received 15-year prison sentences for assisting an FBI sting operation to assassinate a Pakistani diplomat in Manhattan with a shoulder-fired missile.

The last thing America needs is jihad with tailored suits and Excel spreadsheets. It’s time to stop the clock on this deadly idea.

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