To learn more about Shariah in Business, click here

Shariah in Business

Iran Banks on East to Evade Sanctions

Avi Jorisch
April 27, 2011
By Avi Jorisch

As the United States and its allies continue to pressure Iran through targeted economic sanctions in an effort to force the Islamic Republic to abandon what is suspected to be a nuclear weapons program, Asian countries such as China, South Korea and Malaysia are aiding and abetting Iran's nuclear program by providing it with access to international financial markets and the ability to purchase dual-use nuclear materiel.

As a high-ranking Iranian customs official pointed out this month, Iran is increasingly dependent on Asian imports for the health of its economy. If the international sanctions regime is to have a chance of succeeding, Asian countries will have to close Iranian banks openly operating in their jurisdictions to curb the Islamic Republic's ability to obtain illicit commodities; otherwise, the sanctions will ultimately fail.

The United Nations, the European Union and the United States have taken steps to isolate Iranian banks that are suspected of financially facilitating the purchase of illegal goods via the international financial system. The United Nations, for example, has blacklisted four Iranian financial institutions for their role in proliferating weapons of mass destruction - the Sepah, Melli and Mellat banks, and the First East Export Bank of Iran. Three of the four operate in Asia: Bank Melli is in Hong Kong, First East Export Bank in Labuan, Malaysia, and Bank Mellat in Seoul, South Korea.


New Lawsuit Claims Discrimination Against Muslim Disneyland Employee

This article describes the dress code to which employees agree in their contracts when becoming Disney employees.

Disney Kingdom Reloaded
August 18, 2010
Anaheim, CA

Seems to be the week for lawsuits against Disney…

The latest comes to us from Anaheim where Imane Boudlal, who works at the Storytellers restaurant at Disney’s Grand Californian Hotel, is expected to announce in a press conference this afternoon that she’s filing a discrimination suit against the mouse.

Boudlal says that her employer will not allow her to wear her hijab on the job and that they have sent her home from work three times already when she did. She will attempt to wear it to work again today and is expecting to be sent home again for doing so.

Boudlal recently gained her citizenship in June and is challenging her constitutional right to freedom of religion.


Tea With Terrorists?

Caribou Coffee, a Shariah-compliant firm owned by an Islamic bank based in Bahrain, was founded by a prominent member of the Muslim Brotherhood. Yusuf al-Qaradawi, a terrorist banned in the U.S. & U.K., was a key principal in the purchase of Caribou Coffee in 2000. Muhammad Taqi Usmani is on Caribou’s Shariah Supervisory Board. So, why are prominent lobbyists meeting with White House officials at the Caribou Coffee on Pennsylvania Avenue? Why are these meetings taking place outside of the White House indicating a clear lack of transparency?

Investor's Business Daily
July 8, 2010
Washington, D.C.

President Obama promised lobbyists wouldn't run his White House. They're just doing it from across the street — at a Shariah-compliant coffee chain tied to a radical jihadist group.

That's right: According to the New York Times, prominent K Street lobbyists are buttonholing Obama officials at a Caribou Coffee shop on Pennsylvania Avenue, raising far more than just ethics questions. What the Times story neglects to mention is that Caribou Coffee is a Shariah-compliant firm owned by an Islamic bank based in Bahrain. One of its founders and a current adviser are leaders in the radical Muslim Brotherhood.

According to the FBI, the Egypt-based, Saudi-funded Brotherhood has a plan to infiltrate, "sabotage" and "destroy" the U.S. "from within." And it's using American agents and front groups to carry out that espionage.

The off-site White House meetings at Caribou also raise national security concerns. Because they're not taking place at 1600 Pennsylvania Ave., they're not subject to disclosure on White House visitors logs. And there's no Secret Service present — at a shop owned and controlled by a foreign entity hostile to U.S. interests.


Boycott American, Israeli Goods: Qaradawi

Sheik Yusuf Al Qaradawi, one of the forefathers of Shariah Finance, declared that all Muslims around the world should boycott American and Israeli goods. This fatwa comes as a result of speculation that Israelis intend on razing Al Aqsa Mosque. He declared that Arab leaders have been “mute spectators” thus far.

The Peninsula (Qatar)
March 27, 2010
Doha, Qatar

A famed Doha-based cleric yesterday said Al Aqsa Mosque faced the threat of being razed and asked fellow Muslims the world over to boycott American and Israeli goods in protest.

Dr Yusuf Al Qaradawi told the faithful in his Friday sermon at Omer bin Khattab Mosque that the building activity going on near Al Aqsa Mosque threatened the holy Islamic structure. “The Israelis are building a temple within the precincts of Al Aqsa Mosque with the ultimate objective to demolish the Mosque,” the cleric said in his Friday sermon.

The building of Al Kharab temple near Al Aqsa Mosque is an indication that the latter would be razed, he said.


As Dubai Millionaires Multiply, Money Masks Missing Liberties

April 1, 2009
Dubai, United Arab Emirates

From his air-conditioned office on the seventh floor of one of Dubai's twin Emirates Towers, Pakistani tycoon Arif Naqvi surveys the metropolis that made him rich.

To Naqvi's left, about 50 skyscrapers rise above the desert city, where thousands of cranes work on $200 billion of real estate projects, according to HSBC Holdings Plc, Europe's largest bank. Sprawling to his right are the palace, gardens and stables of the emirate's ruler, Sheikh Mohammed bin Rashid al- Maktoum, his wives and children.

  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  Next 
  •  End 
  • »
Page 1 of 2

To view a listing of the articles within this section, please click here.