July 24, 2008
vincent.jpgWith Obama acting presidential in Mid East – Time to take another look at Islam and Shariah Banking

By Vincent Gioia

With false prophet Barack Obama in the Middle East acting presidential, it’s time to consider again what we, the free people of the world, can expect if through Obama’s appeasement approach to solving Middle East problems, Islam extends its reach around the globe.

With Islam comes Shariah law. This is the framework or rules and regulations enforced in Islamic theocracies as “law.” Examples of authoritarian Shariah law include: requirement of women to obtain permission from husbands for daily freedoms; beating of disobedient woman and girls; execution of homosexuals; engagement of polygamy and forced child marriages; the testimony of four male witnesses to prove rape; honor killings of those, principally women, who have dishonored the family; death to apostate Muslims who chose to leave Islam; inferior status of non-Muslims, and capital punishment for those who “slander Islam.” This is what Islam replaces freedom with wherever Muslims succeed in taking over – Shariah law at its finest absurdity.

If you realize what Islam and Shariah law is all about; it is virtually impossible for western minds to comprehend why anyone would be attracted to an Islamic system of life, especially women.

Whoever says Islam is a religion is totally blind to the obvious or is a sympathizer. Islam is a complete authoritarian government-political-business-control enterprise whose only object is total subjugation of mankind and the destruction of western civilization. They invade the host country as a virus by exploiting the host’s freedom of speech, religion, political correctness, and laws and eventually grow to demand Shariah law and Shariah banking. As we appease Muslims and accede to their demands we will see the decline of western civilization. The western world may have started out as Neanderthals but learned from experience and developed into societies of rights, duties and obligations to themselves and one another – Islam and Muslims have remained the same since that day 1,500 years ago when Mohammed camped out in the desert and worked out how to control the world.

Understanding Shariah law is essential to understanding the dangers of Shariah-compliant finance. Shariah law is Islamic law dating back to the 7th century and is today the law of the land in Saudi Arabia, Iran, Sudan, UAE and other Islamic countries, and the law under which the Taliban operates. Some recent polls seem to indicate that only 10-15% of Muslims worldwide want to live under this all-encompassing archaic system of Islamic jurisprudence that covers all aspects of a Muslim’s life including religious, social, political, and military obligations. However in Islamic countries the state is so powerful that even modern Muslims comprising 85-90% of worldwide Muslims who prefer not to practice some of the Shariah law mandates are intimidated and forced to accept whatever the Islamic government requires of the people; an example may be Iran whose population is said to want to live a more western lifestyle. Nonetheless, with a current world population of about 1.5 billion Muslims, 10-15% of hardcore Islamists translates into a huge pool of Jihadist recruits and supporters – approximately 150 – 225 million Muslims.

Shariah Financing and Shariah Banks has become a growing vehicle to use western money to finance terrorism and expansion of Islam. Shariah Finance is dangerous because Shariah investments are being used as a place for the Taliban, Iran and other Shariah regimes to invest their petrodollars.

Here is a statement of the problem as provided by American Congress for Truth:

“Terror Financing Mechanism: SCF (Sharia Compliant Banks) as monitored by paid Shariah law advisors to U.S. banking institutions must “purify” certain return on investment (ROI) dollars that do not meet Shariah law standards. This money must be donated to Islamic charities – including some that promote Jihad and support suicide bombing. Investment disclosures state that these sums can be as high as 6% of profits of investments. With $800 billion already in SCF assets, the potential for billions of dollars to be siphoned off for terrorism is real. This would be a serious criminal violation of U.S. law.”

Shariah law authorities, some of whom are now being paid handsomely by Barclays, Dow Jones, Standard & Poors, HSBC, Citibank, Merrill Lynch, Deutschebank, Goldman Sachs, Morgan Stanley, UBS, Credit Suisse and others, have the power to dictate Shariah compliance as deemed by “scholarly consensus” on matters of finance, family, penal law, apostasy, and war.

U.S. investment banks are essentially being money managers for regimes who want to build building nuclear weapons and those providing terrorists with weaponry used for killing American soldiers. The Taliban is reported in the news to be on the rise in Pakistan, funded by Shariah investment profits and embedded donations to “Shariah Islamic Charities.” As these regimes gain legitimacy in our banking system and their net worth increases, the network of extremism and terrorism grows. One sad example from the past: September 11th attacks were funded by Shariah Banks which provided profits to Al-Qaeda. Evidence of this was presented in a court in Philadelphia, Pennsylvania on behalf of Cantor Fitzgerald, Ace, Allstate, Chubb and other life insurance companies, which paid insurance benefits to over 3000 widows, widowers or surviving family members.

Shariah Law is being forced upon and/or tolerated in Europe at a rapid pace, especially in Great Britain. The correlation between Shariah expansion with Shariah Finance is clear: Shariah Finance has strong market share and acceptance in Great Britain, and now the British are dealing with serious issues of whether or not to accept Shariah Law over British Law. The consequences will be the same in America if we don’t stand guard to prevent Shariah financing from expanding and American banks from accepting Muslim standards in order to become Shariah compliant – greed is a strong motivation.

We in the West, particularly in the U.S., are indirectly financing the enemy in the “War on Terrorism.” What I didn’t realize was the large number of banks; including huge international banks having names I recognized are on the list of Shariah compliant banks. Having accounts or even just having a credit card associated with one of these banks is helping the terrorists.

See Related Articles all on Sharia Law and the growing subversion in our country
Related Website dedicated for following Sharia Banking:
Sharia Finance Watch
Last article on Right Side News related to Sharia Banking and compliant banks
For a list of Shariah compliant banks, send your request to gioia@gte.net.

Vincent Gioia is a retired patent attorney living in Palm Desert, California. His articles may be read at www.vincentgioia.com and he may be contacted at gioia@gte.net.