Rachel Ehrenfeld and Alyssa A. Lappen explain how, “in their urgent desire to find new markets, Americans have opened the door to Islamist expansionism.” From the Washington Times:
It’s time for the United States to limit financial transactions that involve American companies to governance by secular laws. The swelling oil revenues of the Gulf states have created demand from those markets for U.S. investments in banks, real estate and industrial stocks. Most has been invested according to the usual financial guidelines, but the recent surge in revenues has also stimulated the demand to impose Islamic law (sharia) on financial investments.
In their urgent desire to find new markets, Americans have opened the door to Islamist expansionism. The Dow Jones Islamic Markets index and Islamic U.S. banks and financial products, which are catering exclusively to Muslims, only advance the Islamic impetus to impose sharia-governed banking on the West. For example, Michael J.T. McMillen, a partner at Dechert, and “a pioneer in the burgeoning Islamic banking and finance market,” aggressively solicits and accommodates sharia compliant transactions. If Islamic investors want to abide by sharia, nothing prevents them from doing so. But there is no reason for American banks, businesses and investment firms to introduce Islam or any other religion into the U.S. capital markets.
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