Shariah-Compliant Finance: It’s all about derivatives, global domination and...
http://www.thejakartapost.com/news/2009/05/26/sharia-trade-swaps-mooted.html The Jakarta Post has an interesting and revealing article this morning. It seems that Syafii Antonio, the CEO of a major...
View ArticleSukuk defaults expose pitfall in Shariah-Compliant Finance
From time to time we have reported on Islamic bonds, properly known as “sukuk.” These are convoluted instruments created by the Shariah finance community to get around prohibitions against interest....
View ArticleThe Worst of Both Worlds: Islamic Derivative Contract Seen by Early 2010
Warren Buffet once called financial derivatives “financial weapons of mass destruction.” He also said he did not invest in them because he never invested in anything he did not understand and he didn’t...
View ArticleA Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica...
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to...
View Article10 Sukuk Defaults at Year-End 2009
While it has received virtually zero coverage in the Western financial media, by researching Islamic blogs, we have come across a very interesting piece of information: there were 10 sukuk (Islamic...
View ArticleDerivatives Go Shariah
They said it would never happen. The Shariah scholars said that derivatives were inherently “unislamic” and had no place in Shariah-Compliant Finance. Well, we guess “the truth changed.” Financial...
View ArticleIndonesia’s Sukuk Auction a Flop
It seems all is not well in the world of Islamic bonds, known as Sukuk. In addition to declining Sukuk subscriptions, we now have news that Indonesia, the most populous Muslim nation in the world,...
View ArticleBarclays Capital Offering Shariah-Compliant Repurchase Agreements
Barclays Capital, the investment banking arm of London-based Barclays Plc, is offering Shariah- compliant repurchase agreements to allow Islamic banks and investors manage their funds. Barclays...
View ArticleMalaysian Shariah Bank Launches New Derivative Product
Bank Islam in Malaysia has launched a new Shariah-compliant derivative product called an Islamic Dual Currency Investment-i (DCI-i). This product is wrapped in a murky Shariah cloak, but make no...
View ArticleFinancial Jihadis Double-Down on Derivatives with Sukuk Mechanisms
Complex and sophisticated financial instruments usually signal eventual trouble ahead and the world of Shariah-Compliant Finance is no exception. Derivatives are tough to control, difficult to...
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