THE SPECTATOR – Melanie Phillips: Alex Alexiev on National Review Online sets out the reasons why sharia finance — described by Sheikh Yusuf al Qaradawi as ‘jihad with money’ — is a serious threat to the west:
The legitimization of sharia in the West and its gradual imposition in Muslim communities and beyond is a key objective of sharia finance, and there is no doubt it has already made huge strides. …And not disclosed either by Gordon Brown, whose stated ambition is to make London the global centre of Islamic banking (reported to be yet another brilliant wheeze from Ed Balls). Of all the manifestations of the Islamisation of the west (see this piece by Dan Rabkin on the acceleration of Londonistan) sharia finance is perhaps the most deadly, because it effectively sells the west to Islam, and the most difficult to stop — because for the financiers and politicians in the west who are thus selling it, all they can see are the trillions of dollar and pound signs being dangled enticingly before their eyes. [Source: Jihad with Money By Melanie Phillips]
Notably, for those Muslims who cannot engage in physical jihad using force of arms, sharia requires that they support jihad financially. This is what sharia finance is all about.
Far from being a legitimate investment vehicle, sharia finance facilitates religiously sanctioned support for terrorist organizations — as well as providing radical Islamists with highly paid sinecures as sharia-finance board advisors in the sanctum sanctorum of capitalism, all the while that they are pursuing a subversive campaign to destroy it.
Predictably, none of this is even remotely disclosed by any of the dozens of Western banks promoting sharia finance today, which obviously exposes them to huge non-disclosure risks ranging from fraudulent misrepresentation, to material support for terrorism.
Cross-posted at The Shrewd Economist
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