...born with the gift of laughter and a sense that the world was mad

Banking on sharia: On behalf of North American kafirs, I would like to thank sharia financier Sheik Muhammad Taqi Usmani, who’s currently experiencing some, er, financial setbacks, for explaining the nuances of sharia banking to us. From FrontPage Magazine (my bolds):

Sheik Muhammad Taqi Usmani has been a rock star of the Islamic finance world, sitting on the sharia supervisory boards of no fewer than a dozen Islamic banks and financial institutions worldwide.

For nearly a decade, the mufti also has advised the Dow Jones Islamic Market Index, which licenses more than 25 stock funds that comply with Islamic laws forbidding certain Western-style investments. The venerable Dow Jones & Co. first retained him in 1999.

Usmani's name is now missing from the Dow Jones website, where it had previously been prominently displayed. His bio and photo suddenly vanished without explanation.

Meanwhile, all references to Dow Jones disappeared from the website of the North American Islamic Trust, or NAIT, which runs a sharia-compliant mutual fund out of Burr Ridge, Ill.

For years the fund had been called the Dow Jones Islamic Fund. Dow had lent NAIT its good name under a licensing agreement.

But recently the trust felt compelled to rename its lead portfolio the "Iman Fund," and amend several pages in its prospectus to remove all references to Dow Jones, as well as Usmani. Again, no explanation was offered.

What's behind the mystery? It's all been very hush-hush, but according to a high-level document I've obtained, along with interviews with company insiders, Dow Jones recently terminated NAIT's license and dumped Usmani to protect its brand. The company, now under new management, no longer wants to be associated with either of them, especially after they received a spate of bad publicity this year.

Articles published on this webzine -- as well as in the National Review, Investor's Business Daily and the Washington Times, among other media -- have called attention to Usmani's fatwahs demanding that Muslims living in the West conduct or support violent jihad against infidels at every opportunity.

"Killing is to continue until the unbelievers pay jizyah (subjugation tax) after they are humbled or overpowered," the radical Pakistani cleric wrote in his book, "Islam and Modernism," which in 2006 was translated from his native Urdu into English.

Usmani advocates spreading sharia law in America and the West -- the barbaric legal code that not only justifies holy war, but the stonings, floggings, amputations and even beheadings for petty crimes seen in Muslim nations such as Saudi Arabia, Iran and Sudan.
 
The aim of Muslims, he wrote, is to "take out people from the rule of people and put them under the rule of Allah."...

Any questions?

Posted by: scaramouche at 09:50 | link | comments

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