Well, it's the wave of the future. From AKI, with thanks to Sr. Soph:
Singapore, 5 Jan. (AKI) - The Singapore stock exchange is developing a separate set of indices for stocks compliant with with Shariah or Islamic Law - which excludeds stocks of companies dealing in such Koran prohibited activities as the sale of pork or pork-based products, liquor, and those involving gambling. The first index of the series, the FTSE-SGX Asia Shariah 100 Index, is expected to be launched next month. The Singapore exchange is hoping that such a move will provide more opportunities for Islamic investors to invest in Asian markets....All the stocks in the index are expected to go through a screening process, using Yassar Research's proprietary screening methodology, which is backed by a panel of Islamic scholars.
This sounds like a modern version of the old Muslim tactic of building a new Muslim coltrolled city adjacent to there enemy's city and then re-directing all trade there. Eventually the old city is starved of trade and its merchants must move to the Muslim controlled city where the new business is if they want to keep trading. But in doing so they are forced to accept Muslim rules.
Strange.
Islamic Malaysia is just a few miles away, and Jakarta is also not far, why not keep all this Islamo-money there?
Why trust infidels, filthy Chinese infidels (my apologies) with drug-and petro-dollars when Mahatir Mohammed is just lurking around the corner to relieve them of their money?
Singapore's government has carefully put together laws that monitor attempts at Da'wa, and help to limit its workings. Singapore's Chinese (and other non-Muslims) did not break off from Malaysia in order to be re-islamized. What is going on here is an attempt to create a separate Index of supposedly Shari'a-compliant companies. And this, it is hoped, would attract those petrodollars, so undeservedly, so hideously, so intolerably piling up.
A few questions come to mind. Is it enough for a company, say, not to produce pork, or own casinos to meet the standards of Muslim investors? What about those Western companies that allow women to work, to drive, to be equal to men, even perhaps to rise high or run the company? Is that right? What about companies where non-Muslims actually give orders to Muslims -- is that acceptable? What about companies where there are Jews, even in high positions, or Hindus (from the stricly religious, rather than geopolitical, Muslim point of view, even worse than Jews) running things? Surely to be true to the spirit and letter of Islam, all such companies should be excluded from the new Muslim-friendly contemplated Index?
Well, there will have to be a certain amount of overlooking of details, and a great deal of hypocrisy.
What kind of hypocrisy? The kind exhibited by all the Arab rulers, everywhere, who indulge in gambling, drinking, and a taste for Western prostitutes that rivals, or goes beyond, anything practiced by all but the most debauched Westerners. Take Monte Carlo. Everyone there, every bell-boy, every bus-boy, every taxi-driver, every croupier, knows that the hordes of rich Arabs in Monte Carlo either on their yachts, or in their vast apartments, or most often in hotel suites or entire floors of hotels, hole up, order vast amounts of girls and equal amounts of liquor and other stimlatnes, and engage in long-running non-stop orgying that is only interrupted only for one thing -- to spend time at the gaming tables, and then to return upstairs, or back to the apartment or to the yacht, there to return to the girls, the drugs, the liquor. And the same people, the very same people, are those who then turn around and pay for murderous madrasas and mosques, and presume to tsk-tsk the world and insist that their investments should be (well, some of them anyway, to keep the local al-qaedas at bay) in Shari's-compliant industries.
Why Western intelligence agencies are not monitoring the behavior of such people (new enemy, same James Bond in same Monte Carlo), recording everything for blackmail purposes.
"Prince or King Al-Jihad Al-Wazir Al-Hazmat Al-Saud, do you really want the local branch of Al Qaeda to see how you spend the national patrimony? You don't? Good, well then, here's what you have to do...."
Soon, one hopes, to be a Major Motion Picture. Perhaps Hollywood can give Washington some ideas.
Will they also exclude companies which either charge or pay interest? Should be a short list.
I never thought I'd live to say this, but where is J. Edgar Hoover when we need him?
... not sure whether blackmail would work with these desert rats. And OBL is quite aware of what's going on. Anyway, he can't even control his niece:
http://www.thisislondon.com/til/jsp/modules/GalleryPopup.jsp?itemId=21270778&imageId=0
Wake Up Starbuks, an Islamic competition..Caribou Coffee!! The Chairman of the Shari'ah Supervisory board is..guess who? the one and only Qaradawy!!
Read the story here
http://www.snopes.com/business/alliance/caribou.asp
If you want to read about the economic implications for shareholder go to
http://www.fool.com/News/mft/2005/mft05100317.htm
The share price tumbled more than 40% ever since islamisation .. but who cares?
I take it they won't be trading in pork bellies?
If i wanted to start a NON Infidels only bank...
the ACLU terrorist loving laywers would be filing briefs on behalf of both bin laden and zarchawi faster than crap through a goose...
but if it discriminates against ALL
JEWS
CHRISTIANS
NON MUSLIMS
INFIDELS..
thats ok ...
I find it so hypocrytical that the poor muslims cant charge or earn interest ...
so they have to come up with a sham scheme where they dont earn interest ...
They just get interest from all of their investments in the USA STOCK MARKET...
If they didnt have OUR stock market to invest in
The bank would run out of money in 30 days...
then when it runs out of money since it cant charge interest... they call on their old terrorist supporting friends the Saudis''
Who bail the bank out...
If it wasnt for the WEST Islam and ALL muslims would still be drinking Camel piss for their cures and eating fly wings for PMS...
I will tell the muslims what...
You dont like interest
You dont like the west
You dont like the Medicines that save your childs lives
Fine
STOP using Everything the WEST invented ..
Move back into a tent with your 4 wives and each time you need food, clothing, warmth, medicines
Just go out to your camel..
For Mohammed said it will cure all your diseases...
Idiots...
I really don't see how this is different from mutual funds that screen out companies connected to abortion, liquor, gambling, etc, to cater to Catholic investors. Why shouldn't there be mutual funds to cater to Muslims?
What infidels need to remember is that Islam is a complete package. If you allow scarves and interest-free sharia-compliant loans, you will also get beheadings, honor-killings and mutilations. See Europe.
Thank you "enoughisenough" for your enlightening post. My friends and I will not patronise any Caribou coffee houses from now on. Dr. Yusuf Abdullah Al-Qaradawi is the savage who is banned from entering the US, but he has a cosy relationship with our London Mayor "Red Ken" (Kenneth Livingstone).Dr. Al-Qaradawi has stated that "he does not think acts of violence against Israeli citizens is terrorism," and he is noted for his virulently anti-American stance and other viewpoints that many westerners find abhorrent.
This Egyptian-born theologian, Sheik Yusuf Abdullah al-Qaradawi, has a history of anti-American & anti west militancy.His views are very extreme. From his base in the Persian Gulf state of Qatar, the 75-year-old sheik has issued Islamic fatwas, or decrees, on issues like the need for Muslims to boycott McDonald's restaurants, and on husbands' right to beat their wives as long as they do not draw blood.
This guy is a savage whose presence should not be tolerated in any western country.
"Strange.
Islamic Malaysia is just a few miles away, and Jakarta is also not far, why not keep all this Islamo-money there?
Why trust infidels, filthy Chinese infidels (my apologies) with drug-and petro-dollars when Mahatir Mohammed is just lurking around the corner to relieve them of their money?
Posted by: sheik yer'mami"
- because sheik - Muslims are only good at killing, burning, raping, destroying, not investing and building.
"What kind of hypocrisy? The kind exhibited by all the Arab rulers, everywhere, who indulge in gambling, drinking, and a taste for Western prostitutes that rivals, or goes beyond, anything practiced by all but the most debauched Westerners."
Hugh - did you see that the Sheik of Dubi died in Sin City in Australia a couple of days ago?? (the Gold Coast - full of half naked to naked women, casino's, drugs, prostitutes etc).
What a fitting place for such a pious Muslim to die. He died of a heart attack. I can only assume his heart couldn't handle a Western woman! He must have been to used to those submission, a-sexual Muslim women!
Maybe his death was a Zionist plot! Had to be!
Maktoum died in Australia's Sin City? Under what circumstances -- anything reminiscent of the last lussurious moments of Felix Faure (la main dans les cheveux de Madame Stenlein) or of cross-dressing Nelson Rockefeller?
And let's not forget Maktoum's interest in horses, and his disinterest in those tiny boys, often taken from their families in Pakistan, those eensy-weensy tiny boy-jockeys, those infantile fantini, who were so used and abused (and this even raised eyebrows in Kentucky, among some of Maktoum's former admirers among the locals).
A moral, or (im)moral tale.
Hugh:
I sent the link to Robert but he didn't post it. don't know why. Haven't got any more on this, sorry....