On March 27, 2010, Harvard University Islamic Finance Project hosted the Ninth Harvard University Forum on Islamic Finance. Islamic Finance, or “Sharia Compliant Finance” (SCF) is the fastest growing sector of international financial industry and was presented at Harvard as “ethical banking,” or a possible responsible Islamic alternative to failed, Capitalist banking. It claims to modify financial practices for Muslims so they can obtain non-interest loans and engage in market investments that don’t violate Sharia Law by assuming risk or investing in products and services opposed to Islamic morals.
Frank Gaffney, founder of the of the Center for Security Policy, and Robert Spencer of Jihad Watch, formed the “Coalition to Stop Sharia Finance,” and have provided extensive research this topic. When the Treasury Department organized “Islamic Finance 101 Forum,” the Coalition held a press conference to detail its concerns.
Frank Gaffney responded to a question from Al Jazeera about why the Coalition is opposed to a “government initiative originally requested by the Bush Administration that would bring trillions of dollars into strapped Western investment banks:”
“The reasons that Sharia Finance is not the innocuous and desirable industry that you described, are fourfold; at its core, it is about promoting Sharia. Everyone who talks about it as you have…does so as though it has nothing to do with Sharia. This is misleading the public and certainly, misleading investors, many of whom, post 9-11, would not want to have anything to do with an industry that is promoting the violent over-throw of the United States Government.”
“Second, Sharia advisors, integral to this industry, are, without exception, proponents of Sharia, a seditious program…Some are very explicit that Sharia finance is, “Financial Jihad…Jihad with our money.” Third, Sharia advisors have at their discretion the ability to move funds to charities…organizations that have connections…with terror. The biggest problem is that today, the Treasury Department OWNS a substantial portion of the investment companies and would be investing in Sharia.”
Robert Spencer added that, although mainstream Sharia scholars insist that “Sharia is one,” no one at the Treasury Department will bring up Sharia treatment of women, the institutionalized inequality of non-Muslims, or the expansionist and supremacist philosophy underlying Sharia.
Champions of SCF, eager to impugn the West and promote the idea of an Islamic superiority, are using the financial crisis to encourage the idea of Sharia Law as a necessary and sure protection of good people from Capitalism.
Behind all the veils, there is nothing substantially different between Sharia Finance and Interest Banking, except the dissimulation and mind-bending self-delusion needed to convince Muslims that they can borrow money without paying anyone for its use (interest disguised as rent payments to a co-owning bank) and that, by simply renaming “risk” and agreeing to donate a portion of profits to a charity, Sharia-compliant Muslims can invest in a market that functions uniquely on uncertain speculation.
As Gaffney and Spencer indicated, the primary problem with promoting Sharia Finance is that this legitimizes Sharia Law, a law that is fundamentally opposed to our American way of life.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
As Spencer pointed out, Sharia Law is not just about banking. It is a total way of life, based on the belief, not that Sharia is a personal option one might choose, but rather, the obligatory code of behavior for all human beings. Sharia obliges its followers to wage Jiahd, to bring every non-Muslim to submission to Sharia Law.
The rights to Life, Liberty and the pursuit of Happiness that form the very core of our right to exist are violated by Sharia Law that governs virtaully every aspect of daily life. This is particularly true for women. The Sharia that our law-makers and academics are legitimizing in order to profit financially, requires the stoning of women caught in adultery, the murdering of those who refuse to convert, the beating of women who become westernized and wear make-up. Under Sharia Law, it is unlawful for women to travel without a related male chaperone, or speak to non-relative males. Women can be sold for “marriage” (sex) to relatives at the age of nine, the age at which the legislator of “Ethical Finance” consummated his marriage to his cousin, the second of his many wives.
According to Islam, women are functions of male lust. They are considered sources of temptation and impurity for men whom Sharia recognizes as being perpetually consumed with indiscriminate lust, the containment of which is the primary duty of women, their chief obligation under Sharia Law.
These prescriptions and spirit are implemented in full in countries that have succumbed to Sharia Law. They are whitewashed and sanitized in countries like America, in which the advancement of Islam benefits from an attenuated view of the Muslim faith. This duplicity lulls non-Islamic citizens and governments into a fatal complacence about Islam’s true nature and ultimate determination to dominate the world.
It is likely that Muslims may avoid violent attacks that could rouse Americans from slumber, but continue instead to engage in the tactics of what Spencer has called Stealth Jihad. While many causes vie for our attention, none is more pressing than defending our core values, our very way of life, those values that Islamic and traitorous financial geniuses are willing to trade for their own enrichment and our betrayal.