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Exclusive: What You Need to Know About Shariah-Compliant Finance

December 30, 2008
Andy Polk

Editor’s note: Our readers know of the good work conducted by Rep. Sue Myrick’s (R-NC) Anti Terrorism Caucus. Recently, the Anti Terrorism Caucus prepared a background information letter for Members of Congress that describes, in basic terms, Shariah Finance and how it is gaining a foothold in America due to capital investment needs and the desire by businesses to sell to Islamic markets. The letter lays out several problems with Shariah Finance and uses examples to help explain these problems in common business terms; we recommend it highly to our readers. Here it is:

According to experts, the global market for Islamic Financial products in 2008 is worth over $1 Trillion and is expected to grow at 15-20% a year. Islamic financial products are likely to account for 50-60% of the total savings of the world’s 1.2 Billion Muslims in the next decade. The Islamic banking industry’s estimated growth is 20% through 2012. Right now, about $88 Billion dollars in Shariah Compliant Funds are currently invested in the U.S.

Businessmen look at these statistics and salivate over the potential of new markets and increased profits. American financial institutions loaded with liabilities and debt now consider Middle Eastern investors saviors due to the new sources of capital.

Blinded by dollar signs American businessmen are unaware that these Middle Eastern investors are more than happy to accommodate, thanks to the bargain prices they find for American real estate and businesses and thanks to the financial chaos on Wall Street. They have made moves under the radar and now, for the first time ever, a number of Middle Eastern countries derived more revenue from their investments than from oil and gas.

What American businesses should be aware of is that many are now using their new economic power to force America to change the way it does business to comply with their religious beliefs, which is called “Shariah Compliant Finance.”

For the rest of the story …..

2 Comments leave one →
  1. Harold permalink*
    December 31, 2008 2:25 pm

    My problem with Islam is the radical/militant/extremist arm of Islam. Likewise, I have the same misgivings regarding the Israeli government/Mossad and the American government/CIA/FBI/DHS.
    I am a Christian. You are a Muslim. Under the U.S. Constitution, you are free to practice your religion just as I am free to practice mine. Neither of us have ANY right to trample on the rights of other Americans, regardless of religious beliefs.
    But I will draw the proverbial “line in the sand” and dare ANY religious sect to cross and attempt to take my freedoms and liberties from me! Furthermore, I will defend my family, friends and self from ANY encroachments on OUR God-given rights inscribed in the U.S. Constitution (Bill of Rights, inclusive). I will use any means necessary to defend and ensure those rights remain as our founding fathers intended.
    So with that said, I reiterate my profound contempt for Sharia law. There is absolutely NO place for these blasphemous practices in the United States. Sharia law in any form is a complete and utter polar opposite to U.S. Constitutional law, and as such is illegal with the boundaries of this sovereign Republic!

  2. December 30, 2008 9:22 pm

    I read… Even though i find it difficult to believe that Muslims would use Zakat (which is ment for the poor, to feed and clothe them) for terrorism… If in the event that’s true, they’re not Muslims, Period !

    Now, if you’d like to get the real truth on Islam (not corrupt Muslims), because there’s a big difference between the two, About Islam

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