Britain To Self-Destruct With Sharia Bond Market

Oct 29th, 2013 | By | Category: News Posts

 

Sharia finance strengthens Islam around the globe.

Sharia finance strengthens Islam around the globe.

Prime Minister David Cameron has announced that the UK will become the first western nation to issue an Islamic bond.

At the World Islamic Economic Forum (WIEF), he will also announce plans for an Islamic index on the London Stock Exchange.

According to Cameron: “I don’t just want London to be a great capital of Islamic finance in the Western world, I want London to stand alongside Dubai as one of the great capitals of Islamic finance anywhere in the world. There are some countries which naturally look inwards, pull up the drawbridge and refuse to recognize that the way the world is changing affects their future success. But Britain will not make that mistake.”

Cameron is playing the fool for Islamic tyrants around the world. This latest submission to Islamists will only strengthen their efforts to impose Sharia on every nation on the planet. Cameron is aiding his own nation in self-destructing.

Shariah Finance Watch, a project of the Center for Security Policy, headed by RFC friend Frank Gaffney, explains why sharia finance is so dangerous to human freedom:

What are some of the risks of shariah-compliant finance?

National Security and Financial Risks: Islamists are attempting to impose Shariah Compliant Finance (SCF) on Western institutions to use our own financial strengths against us. The most serious problem with SCF is that it legitimates and institutionalizes Shariah law (i.e., Islamic law), a theo-political- legal doctrine violently opposed to Western values. With $1 -$2 trillion petrodollars annually looking for an investment home, blind exuberance is driving financial institutions to adopt SCF, without even a minimal baseline for legal compliance. This willful blindness, and lack of both transparency and due diligence may cause SCF to be the next sub-prime crisis, but this time with deadly consequences.

Legal Risks: Western financial institutions which adopt SCF may have criminal and civil exposure to claims of aiding and abetting sedition and the material support of terrorism, securities fraud, consumer fraud, racketeering, and antitrust violations, as well as exposure to tort claims for sedition and terrorism, and for the violation of internationally recognized norms of the law of nations.

Learn more about Sharia finance: Shariah Finance Watch.

 

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