“If they can work according to Iran’s banking law, they will be allowed to open branches in Tehran and other cities.” So in other words, Western banks operating in Islamic countries have to abide by Sharia Finance restrictions. And Western banks operating in Western countries likewise are increasingly accommodating Sharia Finance restrictions.
This is in microcosm (albeit admittedly a rather macrocosmic microcosm) the same stealth jihad phenomenon we see in other areas: in Muslim countries, Muslims demand that Westerners conform to Islamic sensibilities, and likewise in Western countries, Muslims demand that Westerners conform to Islamic sensibilities.
And the banks willingly go along. Lovers of freedom should divest their assets from these banks.
Tehran – Four American banks, including Citibank and Goldman Sachs, have applied for opening a branch in Iran, an Iranian daily has reported.
The banks made a formal request to the Central Bank of Iran (CBI) about 20 days ago to establish a branch in the country, the Jaam-e-Jam newspaper quoted an informed source as saying.
“If the CBI approves their request, these four banks will set up a temporary branch in an Iranian free trade zone,” the source told Jaam-e-Jam, without revealing the names of the other two banks.
“If they can work according to Iran’s banking law, they will be allowed to open branches in Tehran and other cities.”
The report comes as Tehran and Washington are to enter direct negotiations to resolve a standoff over Iran’s nuclear program.
Earlier this month, the five permanent members of the United Nations Security Council — the US, Russia, China, France and Britain – plus Germany (P5+1) invited Iran for negotiations on the country’s uranium enrichment program.
The upcoming meeting will mark the first time the US will sit at the negotiating table with Iran without setting preconditions — such as demanding Iran give up its uranium enrichment activities….