Posted on 10/12/2006 7:07:27 PM PDT by willyd
Looking to invest in a way that doesn’t conflict with their faith
When Caribou Coffee went public last year, sharp-eyed investors noticed some unusual promises in its prospectus. Caribou, the nation’s second-largest coffeehouse chain, said it would never sell pork or porn. It wouldn’t charge or receive interest, either. By following financial rules that are part of the Islamic code called Shariah, Caribou is among a small but growing list of Western businesses looking to make themselves as attractive as possible to Muslim investors. Some, like Caribou, are motivated by principle, while others see Muslim investors as an attractive new source of money.
Middle Eastern investors flush with oil profits are looking for new places to invest, and American Muslims are looking to invest in a way that doesn’t conflict with their faith. Dow Jones has created an 'Islamic investing index'. A Texas company issued almost $166 million in Shariah-compliant bonds to finance natural gas operations in the Gulf of Mexico. And the German state of Saxony-Anhalt issued a floating-rate 100-million euro note — managed by Citigroup — that followed Shariah rules.
Islamic financial rules come from passages in the Quran that prohibit “riba” — making money from money. Generally, that means not paying or collecting interest, though some scholars say only abusively high interest rates are prohibited. Other prohibitions are more moral than financial, such as a ban on selling pork.
In Western finance, it takes some creativity to avoid earning or paying interest. To borrow money, Shariah-compliant companies often pledge the lender a share of the profits from an asset instead of interest. Investors who need to earn a shorter-term return can contract to buy, say, $100 of copper today, and simultaneously pledge to sell copper in 90 days for, say, $103. Dow Jones now has over 60 Islamic indexes that track Shariah-compliant stocks and bonds. Siddiqui said about 30 firms have licensed the indexes, and about $5.5 billion in investments are managed in line with the indexes.
I like the part about zero-interest loans. Where can I get me one of them? I'll even wear a turban for the banker meeting.
Torches lighted! *mob chanting* "Death to Caribou infidels!"
I also go to Dunkin. And they are a private company, so they don't need to worry about Sharia.
Too late. They have already removed those links.
Hard to find the 1,200 companies on the Dow Jones Jihad Index. They aren't exactly forthcoming with the names as they are with their main indexes. Curious.
Boycott Caribou Coffee!
I'll NEVER go there.
Dunkin' Donuts is NOT a private company.
It is a subsidiary of Allied Domecq, which was recently acquired by Pernod-Ricard.
In other words, hold onto your hats, Dunkin' Donuts is..... FRENCH.
You are incorrect.
Dec 5, 2005--Three private equity firms have agreed to pay $2.43 billion for Dunkin' Donuts and two other restaurant chains, the companies announced Monday.
French beverage company Pernod Ricard SA agreed to sell Dunkin' Brands to Thomas H. Lee Partners, the Carlyle Group and Bain Capital four days after bidding closed in an auction for the U.S. fast food company — owner of the Dunkin' Donuts chain, Baskin-Robbins ice cream parlors and Togo's sandwich stores.
Back in American hands, and free from Sharia and liberalism. Drink up!
Thanks for the post.
Yakima bike racks?
WOW.
What do I do with mine?
I don't want to pawn it off on an unsuspecting biker especially if they're Jewish.
Maybe I'll mount it on the basement wall, nice and cool down there, and hang sausages from it?
Alrighty, then!
There's just one problem. I like the donuts (and can't eat them often).... but I hate their coffee.
I am also a little torn about most of this info. Besides researching and finding who, what, etc....I don't want to begrudge fellow Americans of jobs...but knowledge is power. And life and commerce are about informed choices.
The iced coffee is better. In general their coffee is slightly butter. The flavored varieties are better. I actually think McDonald's is better. Starbucks prices are just too absurd for me.
Well, in any case I just drink the Wegman's french roast that we pick up at the store. One cup in the morning at home is plenty for the day.
Wasn't easy to find.
http://www.cariboucoffee.com/aboutus/ownership.asp
THanks---must have missed that tab---so the Islamic bank
Arcapita is a majority shareholder. The question is, "WHY?"
Just "business"? I really don't understand the significance of this. Easier in a conspiratorial sense to understand the small aircraft Cirrus Design Group in the portfolio.
"Arcapita Bank has provided Caribou with the necessary resources for continuing to expand our store base in the U.S. "
Seems to me that Caribou went looking for cash, Arcapita said, "Sure dhimmi, just sell your soul to the sharia firm. We be in touch with future demands."
The only future I see for this is if Citgo gas stations
now integrated Caribou Coffee shops into their convenience stores. Maybe they could expand once more and include a small corner stand given over to halal meats.
But I don't know who holds a franchise for that..
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