Banning people who speak critically of jihad terror and Islamic supremacism. Letting in imams who speak positively about jihad terror and tearing infidels limb from limb. And now this, which “will further strengthen the United Kingdom’s role as the leading international financial centre for Islamic finance outside the Muslim world.”
It looks as if the rulers of shattered, staggering, dhimmi Britain have decided to make Britain Sharia-compliant in every respect. Britain’s eager and active engagement with Sharia finance will make it ever more difficult for it to resist imposition of other aspects of Sharia.
“Bank of England announces new support for UK Islamic banks,” by Rozi Jones, Financial Reporter, December 2, 2020:
The Bank of England has announced the launch date for a new Shariah compliant non-interest based deposit facility, the first from a Western central bank.
The Bank says the facility, in which deposits from Islamic banks will be backed by a return-generating fund of high quality Shariah compliant assets, “will further strengthen the United Kingdom’s role as the leading international financial centre for Islamic finance outside the Muslim world”.
Islamic finance had assets totalling $2.4 trillion in 2019, 11% higher than a year earlier and a third bigger than in 2015.
In a speech given during UK Islamic Finance Week, the Bank of England’s Andrew Hauser said that key aspects of Islamic finance “make it particularly well suited to financing the post-Covid recovery”.
Hauser said these aspects include prioritising equity-like risk-sharing over debt, factoring ethical and environmental considerations into investment decisions, and embracing innovative financial solutions beyond traditional banking.
However, he noted that Islamic banks have long challenges in efficiently managing their liquidity, stating the Bank of England’s new non-interest based central bank deposit facility “is designed to help level the playing field”….
The ALF will be structured as a wakalah or fund-based facility, a commonly used model in Islamic finance. Participant deposits will be backed by a fund of assets, the return from which, net of hedging and operational costs, will be passed back to depositors in lieu of interest….
Mount Zion says
Money rules the world , muslim oil countries are so full of it that this is just one more step towards the islamisation of Europe and the entire World . I don’t see any hope for the west. Am I beeing pessimistic?
Anyone out there who can give me some hope?
b.a. freeman says
MZ, i fear U are being realistic, not pessimistic. deluded fools and the liars that lead them rule the west and westernized world, and they (*W*E*) *WILL* fall to the ummah; no defense and denial of reality is the same as complete surrender when dealing with criminal thugs like those brought up by islam.
curious george says
Mount Zion says
Anyone out there who can give me some hope?
……………………………..
Probably not. At least not on a secular level.
The more things change, the more they remain the same.
Primary rule… FOLLOW THE MONEY.
Secondary rule… FOLLOW THE MONEY.
And, when all else fails… FOLLOW THE MONEY.
Batten down the hatches, the worst is yet to come.
Savvy Kafir says
It’s not over yet, MZ! The fight hasn’t even begun. (On our side, that is.)
Sooner or later, enough people will be pissed off/ alarmed/ clued-in that a major push-back will begin against Muslims in the West and the PC fools who aid and abet them.
Muslims are still tiny minorities in all Western countries, and their PC allies on the Regressive Left can be defeated, once enough people are educated regarding Islam and the threat it poses to free, civilized societies.
gravenimage says
Hear, hear, Savvy Kafir!
Englishman says
In the words of Enoch Powell, WE MUST BE MAD.
b.a. freeman says
whether U call them “fees” or “interest,” the result is the same. the problem is not the fees, it is the creation of something that is sharia-compliant; as mr. spencer notes, it will be ” … ever more difficult … to resist imposition of other aspects of Sharia.” after all, if it works here, why not make *all* banking that way? and if all banking is sharia-compliant, what’s wrong with sharia-compliant speech control? and if … U get the picture.
gravenimage says
+1
Henry Schalk says
They’re starting to fall over themselves to get in on the act, Schroders is “delighted to comply” to Sharia adherence.
https://portfolio-adviser.com/schroders-unveils-islamic-global-equity-fund/
Aussie Infidel says
It seems that the return (dividends?) from the assets, is what participants receive in lieu of interest (usuary) to which the Muslims object – and for which they blame the Jews.
How is this different substantially from the way banks operate now? Banks lend money for projects, housing, and other wealth generating facilities, infrastructure and personal goods, as well as holding shares in other companies.
Is it just an Islamic rose by another name? Or Financial jihad?
Michael Copeland says
Will kafirs be permitted to work in these Sharia-compliant facilities, or will it be muslims only?
katherine says
To be Sharia compliant, these places will be required to employ Muslims because only `they` can appreciate the intricacies of Islamic Banking. Like the Halal food scam the ultimate agenda is to monopolize an entire industry for the benefit of Muslims specifically.
For a start Managers and senior personnel will need to be Muslims – it follows the rule that only Muslims can be the superiors in any organization. The non-Muslim subordinates may teach other staff the details of transactions and such. After that these helpful dhimmis may be removed to make way for the master race. If the workers are efficient they may be supervisors but they cannot hope for significant promotions.
Meanwhile Muslim Auditors and Accountants will perform their magic on the earnings, lubricating the machinations of the executives to divert funds to either jihad or personal accounts. Politicians will also be exclusively considered as prime borrowers without question.
Does that give you some idea of how Islamic Banks and Shithole Countries work – sort of ?
GreekEmpress says
Another nail in the UK coffin.
nicholas tesdorf says
This is yet another success for financial Jihad as the West genuflects before rampaging Islam.
Adam says
The “west” equals debt. Crushing debt. The UK is a bunch of ankle grabbers and has been for a very long time. Tell Boris to make his hair messier, that should fix stuff.
gravenimage says
No, the Wdst does not equal debt. In fact, the West is the most productive region in the history of the world, and we do *not* need this kind of stealth Jihad.
Linde Barrera says
Very sad, sick, and disturbing news.
I feel we are in The End Times. Also, the
guilt feelings of Great Britain’s historical
attitude “We Must Conquer” is an added
factor here. Like GreekEmpress stated: “Another nail in the UK coffin”.
curious george says
Linde Barrera says
I feel we are in The End Times
……………………………………….
We are. The End Times started with the birth of Yeshua HaMashiach.
The real question is, “Are we in the last days?”
Is that why we are witnessing the chaos in our election process and the unrest and lawlessness rising on global scale?
Are we at the 2 minute warning of the 4th quarter, to use and American football analogy?
govanite says
With this disgusting development the formerly revered B of E has become a financial prostitute
Peter WF says
Just another form of foreign aid.
https://www.theweek.co.uk/107599/how-china-bags-71m-foreign-aid-from-uk
All you English should cringe at the money so recklessly spent.
OLD GUY says
It’s always about the money, the big money will always overlook the moral issue to make a pound or buck no matter what the danger or harm that the general public may have to live with.
gravenimage says
Bank of England steps up support for Islamic banks, ‘particularly well suited to financing the post-Covid recovery’
………………
Right–because Shari’ah finance has done so much for Islamic hell holes…