The economic jihad 7

At least one Western leader, the British Prime Minister David Cameron, seems at last to have become fully aware that Islam is an existential threat to the West – though even now he does not speak its name. (He deplores ISIL [ISIS, IS], not “Islam”.)  And while he calls on Britons to defend their “values and way of life”, he does not seem to notice that the enemy has breached the defenses, is well entrenched in the land, and working its destruction in the very heart of Britain, the City of London, where Islam is successfully pursuing its economic jihad.

Diane Weber Bederman writes at Canada Free Press:

Malaysian Prime Minister Mohamed Mahathir told a banking conference in Kuala Lumpur in November 2002: “A universal Islamic banking system is a jihad worth pursuing.”

August 16, 2014, David Cameron, Prime Minister of Britain, wrote: “We are in the middle of a generational struggle against a poisonous and extremist ideology which I believe we will be fighting for the rest of my political lifetime … But it is not an invincible one, as long as we are now ready and able to summon up the political will to defend our own values and way of life with the same determination, courage and tenacity as we have faced danger before in our history. That is how much is at stake here: we have no choice but to rise to the challenge.”

He doesn’t seem to realize there are many types of jihad. All with one aim. To wipe out … Western culture. …

The Sharia Compliant economy is already well-embedded in the West. …

Britain is well into a Sharia parallel economy, leading the West in providing Islamic financial and related professional services. She is the top provider of Sharia-compliant finance, with reported assets of $19 billion …

David Cameron says British Treasury will issue £200 million ($320 million) worth of sukuk (bonds) this year. The objective is to enable the government to borrow from Muslim investors. Money does not come without strings. The Treasury also said some sukuk bond issues may require the British government to restrict its dealings with Israeli-owned companies in order to attract Muslim money. … I wonder what groups will be next….

Apparently, it wasn’t enough that the West, in our naïve desire to show how tolerant we are,allowed a culture that is anathema to everything we believe to make a home for itself amongst us. …  Once Sharia Compliant Funds become entwined in Western economy it will be impossible to disentangle.

Let me give you some numbers. It is projected that Muslim world will be doing 50% of their banking needs with Islamic institutions by 2020. Imagine how that will impact the free world economy. Sharia Compliant Investment or Funds had an estimated $1.6 trillion under management as of the end of 2012, and has a forecasted $6.5 trillion under management by the end of 2020, according to a report by the Kuwait Finance House entitled Overview of the Islamic Financial Landscape. …

According to the Global Islamic Finance Report, in 2011 Britain was the main centre for Islamic finance outside the Muslim world.In 2013 Britain’s Sharia Compliant finance was reported to have assets of $19 billion.

Standard & Poor’s released a report on Feb. 5, 2014 predicting that sukuk (Islamic bond) issuances worldwide will top $100 billion in 2014 thanks to higher demand from the Middle East and growth in Malaysia — the world’s largest market.

Sharia Compliant Investing is so strong in the USA that a conference was held in Chicago to publicize the products. The Chicago Islamic Finance & Economic Conference 2014 provided “the platform for the Islamic Finance sector and the Halal industries to engage in meaningful discussions, market and consumer challenges, and chart the path for the Islamic Economy in the United States and Globally”.

According to their brochure: “Islamic Finances estimated to grow 15-20% from its current value of $1.35 trillion in assets covering commercial banking, funds, Sukuks, Takaful and other segments. The Islamic Economy with over $3.0 trillion encompassing Halal food, finance, clothing, tourism, media & recreation, pharmaceuticals, and cosmetics is estimated to grow in double digits in the next five years.”

Bloomberg Islamic Finance Platform (ISLM) provides tools and services for investors who want to be compliant with Shariah law. Then September 19, 2012, Bloomberg launched a new Corporate Sukuk (bond) Index for Islamic Finance.

According to Walied Soliman a lawyer at Ogilvy Renault LLP, Canada,“The market has already matured in the U.K., Europe, Southeast Asia and the Middle East. In fact, Canada is ripe for Islamic finance.” But Mohammad Fadel, an assistant professor at the University of Toronto who specializes in Islamic law said “the real gold mine could be Canada’s natural resources and what that might attract in terms of institutional money from Islamic countries”.

On top of the money made from these products there is a huge bureaucracy involved in this business. Special advisors make decisions … [and] the same advisors tend to be on all boards. And some of these Shariah law authorities are now being paid handsomely by Barclays, Dow Jones, Standard & Poors, HSBC, Citibank, Merrill Lynch, Deutschebank, Goldman Sachs, Morgan Stanley, UBS, and Credit Suisse.

The author gives the names and connections of four of these advisors. One of them is associated with the Muslim Brotherhood. Financing terrorism is inevitably part of their agenda:

Serious problems come into play when one takes into consideration zakat – charitable contributions. These same Sharia advisors are often responsible for determining the distribution of zakat, which is 2.5% of income that observant Muslims are obliged to make each year.

She quotes the Qu’ran (9:60) and Reliance of the Traveler (The Classic Manual of Islamic Sacred Law):

Recipients of zakat include the poor, the needy, those who serve the needy, and to free the slaves, but recipients also include ‘those who fight in the way of Allah’ and ‘people engaged in Islamic military operations for whom no salary has been allotted in the army, or volunteers for jihad without remuneration’.

The largest single source of funds for Islamic terrorism is zakat which typically goes through the Islamic banking system. Using the system of zakat, al-Qaeda was able to receive between $300m and $500m over a decade from wealthy businessmen and bankers representing 20% of Saudi GNP, through a web of charities and companies acting as fronts, with the notable use of Islamic banking institutions. …

If there’s no Sharia investing available [Muslims] invest as others.They remain in the mainstream economy of the country in which they have chosen to live. But once Sharia is introduced, the choices narrow.

Before Baroness Warsi was relieved of duty [as a British cabinet minister] she promoted Sharia Compliant investing in Britain. She said it’s about “increasing options, maximizing the products and services we have to offer” and “making Britain the preferred choice for the Muslim world”.  …  Sharia Compliant Funds … actually reduce free choice for Muslim citizens because they become obligated to purchase these funds and separate themselves economically from the rest of the country. …

Finally, she quotes Dr. Zuhdi Jasser, President of American Islamic Forum for Democracy, a rare brave Muslim voice often speaking up publicly for Western values:

Sharia-compliant finance only empowers Muslim Sharia Law leaders whose real long term vision is to impose Sharia Law on the world and recreate an Islamic Empire. These leaders want to overpower capital free markets and create their version of an Islamic economy. Bankers and business leaders are being duped.

So will Prime Minister Cameron resolve the contradiction between his determination to resist the advance of Islam in the West and his wanting Britain to lead the world in sharia-compliant banking?

According to the Telegraph, reporting in October 2013, Cameron was very keen on the City of London becoming a world center for sharia-compliant finance:

Britain is set to become the first non-Muslim country to sell a bond that can be bought by Islamic investors in a bid to encourage massive new investment into the City.

David Cameron will say in a speech on Tuesday at the World Islamic Economic Forum in London that the Treasury is drawing up plans to issue a £200m Sukuk, a form of debt that complies with Islamic financial law.

The new sharia-compliant gilt will enable Britain to become the first non-Muslim country to tap the growing pool of Islamic investments that is forecast to top £1.3 trillion by next year.

The Prime Minister will say that it would be a “mistake” to miss the opportunity to encourage more Islamic investment in the UK and that the City of London should rival Dubai as a centre for sharia-compliant finance.

“When Islamic finance is growing 50pc faster than traditional banking and when global Islamic investments are set to grow to £1.3 trillion by 2014, we want to make sure a big proportion of that new investment is made here in Britain,” Mr Cameron will tell an audience of senior officials from Islamic countries.

How much wealth is Britain, and the West in general, prepared to sacrifice in order to “struggle against a poisonous and extremist ideology“?

We wait to see.

  • Don L

    “Give me control of a Nation’s money supply, and I care not who makes its laws.”

    – Mayer Amschel Rothschild, founder of Rothschild Banking Dynasty

    • REALBEING

      Not even having most of the nation’s money, but just the power to change everything surrounding it’s printing, how it is distributed, even it’s denominations, is real power!

      Great point, Don!

  • liz

    Cameron – leader of hypocrites willing to sell out their countries for money.
    Proof that Muslims should never be allowed to move into the Western world, much less exchange money with it.
    THIS is what the BDS movement, in a sane world, would be about.

    • Thank you for reminding me, liz. The present BDS movement goes hand in hand with this. Millions of Westerners helping to cut their own throats!

    • REALBEING

      Most Muslims will not face the fact that it states right in the Quran that in order to be a “good, Quran-following Muslim” one must kill any and all persons who are non-believers and who refuse to convert to Islam.

      Like the Christian bible, which also contains horrible, and unsavory punishments for non-believers and sinners, the Quran is a law book, first and last.

      Most Christian believers do not follow the bible’s gruesome punishment laws for sinners and infidels written down in The Old Testament.

      I find it funny that they consider their bible to be infallible, but they do not follow it’s rules and regulations for adulterers, thieves, murders, and other assorted sinners like it disposes them to.

      Did God change His mind after supposedly stating these brutal Old Testament laws? Couldn’t He see what was coming in The New Testament?

      In reality, I would think that not following God’s Old Testament laws as written makes these Christians ‘infidels’ in the eyes of their “God.”

      Infidels much like the harmless and civil brand of Muslims who are loving humans, but do not follow the brutal laws of their Quran.

      • liz

        Exactly. But Christians find all kinds of ways to explain away this embarrassing contradiction in the “infallible Word of God”.
        Thats what theology is for!

        • REALBEING

          Explain away???? Hah!! The ones I’ve debated this very notion with don’t even want to talk about it!

          Apparently to them, this point is outside the bounds of Reason, even though they don’t see a ‘Reason’ for a God needing to exist before their God “Is.”

          (The quote that I usually get) “Well…………………………………………its some form of “Divine Mystery.” (Unquote)