Proud Infidel ranting about the ongoing war against democratic and secular values (Don't fool yourselves)! Maybe a voice of sanity in a wide ocean of madness.

20080312

Sharia financing

[...]

Investments in the Islamic Finance Industry worldwide are now worth about $700 BILLION dollars. Moody's Investor Services estimated this in a report put out in February 2008. The countries that are the largest contributors to Shariah Finance are Bahrain, Kuwait, Oman, Qatar,Saudi Arabia and the United Arab Emirates and Dubai. These countries have seen this type of growth due to the rise of oil prices that we are now paying for. Every increase in the price of gas at the pump is a step closer to a life under Shariah law. A report by the investment firm of Morgan Stanley in February , 2008 put the outstanding Sukuk (bonds) market worth more than $90 billion dollars, and a projection that by 2010 it will be worth over 200 Billion dollars. While this is good news for the investors, the risk of Shariah law and the changes to the way we live our lives will be changed with this new system of finance.

Well this is of course no surprise. Every single dollar we pay, give or pump in to these countrys just are another step nearer sharia laws, not only in the ME, but also here in the west. I just can't understand that some people do not recognise this obvious fact!

Read the rest here.

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