Sharia Finance: Rapidly Increasing Inroads Via American Banks…With the Help of Our Treasury Department

(Editor’s Note:  IA has visited the subject of Sharia law several times…See below for earlier posts on the topic. The accepted spelling is Sharia or Shariah.)

~~By American Lassie

The first thing I’d like to state before I get into the meat of this article is the fact I hold the opinion that most Muslims are just like you and me, only believing in a different religion. Their everyday lives are much the same as ours. It is the fanatical Hanbali form of Islam that is so autocratic and dangerous and considered authoritative in Saudi Arabia and other areas around the Persian Gulf.

During the Bush Administration, Deputy Secretary of the Treasury Robert Kimmett’s visit to Saudi Arabia and other oil rich Persian Gulf states was with the purpose of recycling of petro dollars in the form of foreign investment in the United States to alleviate the financial crisis.  I’m sure Mr. Kimmett was told by the Saudis and others that in order to obtain their money, the banks would have to abide by Sharia Finance Law.  Whatever went on in his meetings with the Persian Gulf States, he came back to America and co-sponsored the Harvard University Law School’s Project on Islamic Finance.  The host of a seminar held at the Treasury Building was Neel Kashkari, Interim Secretary of The Treasury for Financial Stability and also administrator of the first of the TARP money while George Bush was President.  Kashkari was Henry Paulson’s top assistant.  Unfortunately Shariah-Compliant Finance seems to be the current party line in The Treasury Department.   (See: http://www.thebobofiles.com?p=632)

I’ll come back to this seminar later, but first I would like to present a little more background. This seminar is very important so please stay with me until the end of this article.

The United Kingdom is in deep trouble with all the concessions they have made to Sharia Finance and Sharia Law.  The Archbishop of Canterbury, Rowan Williams, has caused a lot of turmoil in England with his pronouncements in favor of Shariah Law. Her Majesty’s government has allowed the establishment of at least five Shariah Courts to hear (initially) family law cases.  Polygamists in the UK can get welfare for each of their wives as long as all marriages beyond the first were performed overseas), Sharia promoting Islamists are seeking to achieve “parallel societies” here and elsewhere in the West.  Islamists secure footholds over other Muslims through “parallel societies” and then to non-Muslims.  This is an insidious industry meant to foist Islam on the policy community, the markets and western countries.

The differing views of Archbishop Williams and the Bishop of Rochester, England, Michael Nazri-Ali, are causing a rift in the Church of England. The debate over the path of the western sociopolitical system is the most pivotal in today’s world.  This is more and more evident in the crack it is causing in the Church of England.

Multiculturalism and universalism are fundamentally opposed beliefs.  The  level of danger to Britain, Europe, and the entire West created by homegrown Islamists  will be determined by which system prevails.

An op-ed by Dr. Nazir-Ali (January 11, 2008) discusses why he believes that “Britain’s campaign to reconstruct itself as a multicultural society has failed.” (See: http://www.telegraph.co.uk/news/uknews/1574695/Extremism-flourished-as-UK-lost-Christianity.html)

Dr. Nazir-Ali has resigned his post to devote his time to working in communities where Christians are a minority.  He said he was inspired by the story of Hanna Shah, an imam’s daughter who faced being killed by her family for refusing an arranged marriage before she became a Christian.

Radical Muslims have became more militant as Britain has increasingly accomodated the strictures of Islam’s law:

“The death threats that followed Nazir-Ali’s essay only bolstered his thesis.  ‘The irony is that I had similar threats when I was a Bishop in Pakistan”,  he noted,  “but I never thought I would have them here.'”

Rowan Williams, Archbishop of Canterbury, suggested that official acceptance of some facets of Sharia not only “seems unavoidable” but could actually improve social cohesion. To Williams the idea that “there’s one law for everybody and that’s all there is to be said, and anything else is completely irrelevant in the process of the courts – I think that’s a bit of a danger.”
(See: http://news.bbc.co.uk/2/hi/uk_news/7232661.stm)

Michael Nazir-Ali witnessed the realities of Sharia Law as a man in Pakistan.  He came to Britain to escape this for himself and his family and now finds himself in the same situation in Britain.  And the cultural split becomes more prevalent as native Britons see more and more acquiescence to Islamic Law. There will be more strife.  It will be battling enclaves with more and more social unrest.

Discussion about Sharia Law

From the Middle East Forum: David J. Rusin, a research associate at Islamist Watch and a Philadelphia-based editor for Pajamas Media, writes:

“Historians may one day look back on these two prelates and the church they serve —- a body faced with plummeting attendance and approaching disestablishment  — as a symbol of the early twenty-first -century discourse over the future of the West.  For now, Michael Nazir-Ali and Rowan Williams illuminate the diverging paths before us: one paved with an ardent defense of Western Liberties, the other with a nihilism that leads inexorably to dhimmitude. (See: http://www.meforum.org/1890/a-schism-over-sharia-in-the-church-of-england)

Melanie Phillips in the Spectator newspaper offered this statement in her rebuttal to Williams’ comments. (See: http://www.spectator.co.uk/melaniephillips/492106/the-archbishops-speech.thtml)

“One law for all is the very basis of legal and social justice and is the glue that binds a society together.”

DO WE WANT THIS FOR AMERICA? Our Treasury Department is inviting just this scenario because of the greed of our officials.  In the wake of all the brouhaha about the banks–the Wall Street crisis, the enormous bailouts, The Federal Reserve’s suspect bailouts of AIG–one thing troubling me is the lack of publicity on our government’s support of Islamic financing. Is it being done under cover of all this other money boondoggle so that the American people don’t know what is going on?

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“JIHAD WITH MONEY”
“While America struggles with the sub-prime and credit market crisis, Sharia-Compliant Finance, is quickly infiltrating our financial markets – and bringing Islamic Shariah Law with it.  As one leading Islamic authority on Shariah-Compliant Finance has stated, “it is jihad with money.” In a new ACT! for America video, Joy Brighton, ACT! for America’s financial expert on Shariah Compliant Finance warns America of this chilling threat.” (See: http://www.jihadwatch.org/archives/023435.php)

Sharia means “path” or  “path to water.”  It means God’s Law that will provide salvation if followed.  The Quran, Islam’s holy book is considered the literal word of God.  Unfortunately, the Quran is interpreted in different ways by different teachers.

Sharia governs all aspects of life, not just financial.  It governs men and women’s relations, education and inheritances.  Some Islamic nations temper the application of Sharia in criminal law, but Iran and Saudia Arabia are exceptions.  They fully implement Sharia in all areas of the law.
(See: www.cfr.org/publication/8034)

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FROM:  Shariah, Law and ‘Financial Jihad’: How Should America Respond?
Analysis and Findings of a Workshop Co-sponsored by: The McCormick Foundation and The Center for Security Policy

(See: http://www.rrmtf.org/publications/JihadReport.pdf)

The primary purpose of Shariah is to promote Islam as the only legitimate theo-political system and to accomplish it’s dominance, through violent jihad if necessary, worldwide. (This is what is meant by the “Islamist” agenda.)  Shariah rules govern all aspects of life but are most notorious for the mandate they provide for–toning of adulteresses, execution of homosexuals, amputations for petty crimes, beheading of Muslim Apostates, institutionalized misogyny and myriad other violations of western values and international norms. For example, a popular poster from the Islamic region of Nigeria, shows the dire punishments of Shariah in a country torn in two by conflicts over new Shariah Courts.  In the top row, a woman is shown riding a bike with a man, and next is shown her punishment: being stoned to death. (Page 7)

SNIP

The Law of Shariah is the source of the command for faithful Muslims to practice jihads. For peaceable Muslims the term is usually interpreted to mean a personal, introspective “struggle” against Muslims own sins or temptations.  The authoritative rendering of Islamic jihad, however is a ‘just’ war against non-Muslims and Muslims who have gone astray.  “Shariah-adherent Muslims must engage in jihad to bring about the global Islamic state under a caliph who governs pusuant to Shariah. (Page 10)

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Islamic Finance and the U.S. Treasury Department

The United States Treasury Department is opening the back door to Sharia Law in this country by wooing the money of the Muslim States. This wooing of Sharia began in the Bush Administration.  In addition to the Nov 6, 2008 seminar at the Treasury Dept. there was an earlier seminar on April 26, 2002. Following are the introductory remarks by John B. Taylor, undersecretary for International Affairs at the Islamic Finance 101 seminar at the Treasury Department (www.treas.gov/press/releases/po3068.htm).

“Welcome to Islamic Finance 101.  As the Undersecretary of Treasury I want to thank you for joining us at this seminar on the fundamentals of Islamic Finance….We are very  grateful that this diverse panel is here today to share their knowledge with us.  They have joined us from great distances – traveling from Bahrain, Houston, Boston, and New York to share their expertise with us”
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Treasury’s Office of International Affairs implements the U.S. Government’s international and finance and economic development polcies and develops U.S. policy toward the World Bank and IMF.  We have had a growing interest (sic) Islamic finance because of its rapid growth and significant presence in many partners of the United States such as Bahrain, Egypt, Indonesia, Kuwait, Malaysia, and Pakistan.”
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“Today’s seminar was inspired by a round table that Secretary O’Neill attended last month in Bahrain.  At the roundtable hosted by Citibank Bahrain’s Islamic Investment Bank”—
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“The Secretary wanted to make sure that we hosted a similar event in the United States to “demystify” Islamic Banking for our colleagues in Washington who may not have exposure to this topic.”

MORE

Then on Nov 6, 2008 there was another seminar at the Treasury Deparment.  This was the first time I learned that this was planned by the Bush Administration.  It had to be with the knowledge of the man who had just been elected to replace George Bush.

ISLAMIC FINANCE 101, Nov. 6, 2008.

Welcome by Neel Kashkari, Assistant Secretary and custodian of the first TARP money.
PURPOSE: “This forum is designed to help inform the policy community about Islamic Financial services, which are an increasingly important part of the global financial industry.
The Department of the Treasury, working with Harvard University’s Islamic Finance Project, will host speakers from academia and industry to share information on the development of Islamic Finance, both in the U.S. and globally.  The primary audience of this seminar is comprised of staff from U.S. Banking regulatory agencies, Congress, Department of Treasury and other parts of the Executive Branch.  For some in attendance this may be their first and only opportunity to learn formally about Islamic Finance.  We expect about 100 people in the audience.  The presentations will be short and focused, and directed toward policy makers rather than academics.
MORE
(See: www.saneworks.us/uploads/news/applications/7.pdf)

Representative Peter King, R-NY reacted, warning that “There are too many people who are sympathetic to radical Islam.  We should be looking at them more carefully.”

While our Treasury Department is courting these people, they are teaching insurrection on our very soil.  Their mosques and schools and Islamic Centers across the country are inciting insurrection by Saudi trained imams.

THE RISKS OF ISLAMIC FINANCE:
“Of particular concern is the progress being made to establish Shariah-Compliant Finance (SCF) within Western, and most recently, U.S. banks and other institutions that trade securities.  Islamic finance’s leading Shariah authorities have made plain that they consider SCF to be “jihad with money”, “financial jihad” and a means of promoting their objective of destroying the West’s economic system and replacing it with an Islamic one.

“Incredibly, in recent days, the Treasury Department has begun embracing Shariah-Compliant Finance.  Deputy Secretary Robert Kimmett has professed an interest in “studying the salient features of Islamic Banking to ascertain how far it could be useful in fighting the ongoing world economic crises”.  According to a press report out of Saudi Arabia he has declared that “experts in the Treasury Department are currently learning the important features of Islamic Banking.” (See: www.USAStopSharia.org)

STRINGS ATTACHED TO HANBALI MONEY:
Robert Kimmett and his crew in the Treasury Department had better be sure they read the fine print.  When you accept Shariah money, you must accept Shariah Law with it.  These greedy officials at Treasury can’t see beyond their noses.  Their stupidity is going to land us in the same soup pot as the United Kingdom is in if we don’t manage to stop them.

At least Peter King, R-NY sees the danger in what is happening here.  Maybe if enough of us contact him he will raise a ruckus in Congress.  It’s worth a try.

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Hanbali Islam (From Overview of World Religions from the University of Cumbria)–
“Today the school is officially recognised as authoritative in Saudi Arabia and areas within the Persian Gulf.”

Wikipedia article on Hanbali

Hanbali Material in English

Related Posts:

The Scanner–Politics March 18, 2009: (Taitz-Supreme Court; Sharia Law in Minnesota re: Home Mortgages; Stimulus Money Wanders from the States; Privatizing Vets’ Healthcare)

The SCANNER-Politics 11/7/08: Newsweek Editors on Charlie Rose in the SCARIEST Description of Obama So Far…(Video/Partially Transcripted); Sharia Hits the Treasury Department/HARVARD Alert!; Hill the Shill (UPDATE 1X)

While Hillary and Sarah Get Trashed in the U.S., Muslim Women in Britain Get Sharia Law

Obama-Odinga:50-50 Split Demands Sound SOOOO FAMILIAR…(UPDATE 1X–Author of “The Obama Nation” Detained in Kenya; UPDATE 2X–Corsi Released, Odinga Official Website)

A Nation of Nincompoops

~~By Kenosha Marge

According to what I’ve been reading the world is watching America closely. It approves of us getting rid of Bush and approves of our new President but they are still watching our actions with a jaundiced eye. Seems they don’t trust us.

Many countries believe that the United States is to blame for the financial mess the world finds itself in. That’s the risk when you proclaim your country to be the greatest country in the history of the world and are the world’s only Super Power. People then expect you to do Super Power type things. Like fix the mess the world is in. Come on Super Power, use your Super Powers. And do it quickly. (Scanning the sky for a high-flying Super Someone in colorful garb with chiseled features, if a male, and enormous boobs if a woman.)

We have plenty of Confidence in this country, but we are a little short of good men/women to place our Confidence in.  ~Will Rogers

Some of our allies have audaciously declined to join us in our bailout binge and those that agree with our actions have governments as clueless as our malignant pols. Their governments like our government are throwing obscene amounts of money that they don’t have at the problems and hoping they can bribe said problems to just go away. It doesn’t seem to occur to many, if any, that spending more money than you had precipitated the problems.

Spending money is the Democratic mantra while cutting taxes is all the Republicans seem to know. Both mindsets are nothing new for either party. They are monotonously repetitious in their same/old, same/old rhetoric. And as usual they are far more concerned with scoring points against each other than they are in serving their constituency and their country. “Ask not what you can do for your country because it might not get you votes or money” seems to be the thinking. If thinking is involved, I personally and speaking only for myself, would require proof.

Meanwhile the President’s primary concern seems to be in being a Television Superstar. Which is probably fine and dandy with those that voted for him because they too don’t seem to be any more interested in all that boring work stuff than he does.

The only thing new from the spendthrifts now running things is the amount they seem willing to spend. Broke and dependent on the money they/we can borrow from others our government has embarked on a spending spree of monumental proportions.

Giving money and power to government is like giving whiskey and car keys to teenage boys. ~ P. J. O’Rourke

The Democratic Party has been waiting in the wings for years to get it’s moment center stage and now that its come they are tap dancing like nobody’s business. And I do mean nobody’s business. Cause nobody running a business could afford the things they plan without money. Get that? Without money. As in we have none. Nevertheless our malignant free-spending politicians are going to give all the people all the things they want. And we have no money.

Like the parents in this country that gave their children every silly bit of stuff that the children wanted whether their budget could afford it or not. Slap down that plastic and get it NOW. Because those kiddies will be flawed for life if they have to do with out one teensy bit of plastic stuff. When the stuff overflows your house then you can always rent a storage locker to store you excess stuff. That does really seem just a tad silly doesn’t it? Verging on ludicrous and imbecilic?

Advertising is the art of convincing people to spend money they don’t have for something they don’t need. ~ Will Rogers

Houses sit empty and the pathetic plastic outside stuff that people charged so that their children could have the same stuff as all the other children are often left behind. A primary-colored reminder that there comes a time when all those bills for the stuff you charged are due. Citizens are learning, sadly and painfully that bills do come due. The Nincompoops we nincompoops elected, not yet. If not now when?

We all know, or most of us do, that the road to our recovery needs to be paved with fiscal responsibility and personal responsibility. Somewhere deep inside we all know that. But large numbers of us refuse to face that fact and no politician is ever going to tell the voters that they are part of the problem. Just as no politician is ever going to tell the voters that if they want all these programs then taxes will have to increase. No politician will tell voters the truth and so though they have every intention of raising taxes, because they know they must, they hide them in big bills and speak of taxing only the rich because after all they aren’t a large voting block and poor people can really get into hating on the greedy rich. Wonder if that has anything to do with fund-raising being down?

Whatever befalls us as a people or as a nation it is always someone’s fault, not ours. Bankers are evil because they let us borrow more money than we could afford to pay back. People actually say something that mired in nincompoopery and expect us to regard them as adults.

Politicians always reek of nincompoopery. If they were once honest, straightforward people with character and integrity that day is in past. So far in their rear-view mirror for some that it isn’t even a distant memory.

Politics, n:  [Poly “many” + tics “blood-sucking parasites”]  ~Larry Hardiman

We the people are now angry. We are talking tea parties, the Boston kind not Darjeeling, and tar and feathers and pitchforks. Congress, having no integrity or character of their own tried to jump on the People’s Tea Party and Pitchfork Band Wagon and succeed only in making bigger fools of themselves than usual. Which ain’t easy.

The House of Representatives and you in particular Speaker Pelosi passed a bill. that would tax some people 90% if you decided they had been naughty. Some citizens can be forgiven for being too ill-informed or dimwitted to know that such a plan is unconstitutional but the House of Representatives shouldn’t be. Nincompoops is really far to mild a name for those that swear to uphold a document that they evidently don’t understand. Not surprising in a bunch that doesn’t read the bills they pass either.

So merrily we roll along down a steep road headed for a precipice lead by a bunch of nincompoops. Partisan nincompoops are either end of the politican spectrum still have faith in their government. Nincompoops lead by nincompoops elected by nincompoops.

Still there are things to enjoy. I read that the President went off to the G20 in Great Britain aboard a Boeing equipped with it’s own private gym. Gotta keep those FLOTUS biceps in shape.

POTUS took an entourage of 500 people and his own chef and his own armored vehicle nicknamed the “Beast” as well as Marine One helicopter. This is for someone that tells us that we must make sacrifices and be patient. Meanwhile our tax dollars finance a Royal Court that Louis the XVI and Michelle Antoinette would have envied. Evidently if POTUS and FLOTUS are going to eat cake their own chef will prepare it.

Politics is the art of looking for trouble, finding it whether it exists or not, diagnosing it incorrectly, and applying the wrong remedy.  ~Ernest Benn

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Hat tip to Dandy Tiger on the Traveling Royal Court info.