Posted on 09/18/2008 7:27:24 PM PDT by Velveeta
Thanks Velveeta good info you have here!
Beats me?!?
Hi Davey! Hope you’re well.
I think it’s the tip of the iceberg.
Instinct makes me wonder if this is the only shariah banker who has recently disappeared.
Not enough hours in the day to do the research. :-(
_______________How does Islamic finance work?___________.
The overarching principle of Islamic finance is that all forms of interest are forbidden.
The Islamic financial model works on the basis of risk sharing.
The customer and the bank share the risk of any investment on agreed terms, and divide any profits between them.
The main categories within Islamic finance are: Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.
Ijara is a leasing agreement whereby the bank buys an item for a customer and then leases it back over a specific period.
Ijara-wa-Iqtina is a similar arrangement, except that the customer is able to buy the item at the end of the contract.
Mudaraba offers specialist investment by a financial expert in which the bank and the customer shares any profits.
Customers risks losing their money if the investment is unsuccessful, although the bank will not charge a handling fee unless it turns a profit.
Murabaha is a form of credit which enables customers to make a purchase without having to take out an interest bearing loan. The bank buys an item and then sells it on to the customer on a deferred basis.
Musharaka is a investment partnership in which profit sharing terms are agreed in advance, and losses are pegged to the amount invested.
Very interesting; please keep posting on this topic. There may or may not be a trail to Zero (don’t yet see anything clear on that), but it’s still a disturbing trend to see the huge explosion of Shariah finance firms all over the country. It’s especially prevalent in university financing at Ivy Leagues and the University of Chicago, for instance. A portion of the interest that comes in from their investments must be spent on “religious” activities, so much of this money winds up going to fund terrorist groups. It’s pretty well documented and IBD has had some articles on it in the recent past.
"I used to live a block from there. But that was a different era."
I used to live at 6311 on Rockwell, also on Winchester just south of Howard. That was 1977-1983.
Talk about changes! It was all Jewish with a sprinkling of Koreans and Greeks. Remember the bagels from Gittels?
Thanks for the ping.
The Obama Connection ping<<<
Boy oh boy, is it ever a connection.
Ping to check this one, Velveeta has done an excellent job.
25 years ago, a mortgage company in Arizona, was selling shares of mortgages.
He went to prison.
I had a mortgage, for a building that i had sold in Wellton, the payments suddenly stopped and when I wrote to ask why, I got a letter back for the State of Arizona.
I talked to a man on the phone and he said that he had rooms full of records to go through, that the man had been selling trust deeds and selling them in parts, whatever amount you had to invest, he had a deal for you.
A year or two went by and one day, the balance of my loan was in my mailbox, from the State.......no interest of course.
One more question, remember a few years ago, when muslims were advised to leave town?
It was part of one of the threats, I forgot which one now.
LOL, but I have a google alert still set for ‘muslims leave town’, if they suddenly did, it would mean an attack was coming........
How many others have left?
WOW... Thank you so much for posting this, Velveeta! And, thank you for the ping, Granny! Very scary stuff here. I’ll try to write up something on my blog about this.
Granny - another reason to add to the list from my rant on that other thread a second ago - Obama’s terrorist connections. Someone should be able to investigate these things officially and get some action taken. He cannot be allowed to obtain Top Secret Security Clearance, and command our troops - especially not when we are at war with these people! (Velveeta: My rant is here in case you were wondering - LOL - http://www.freerepublic.com/focus/news/2085469/posts?page=45#45 )
He cannot be allowed to obtain Top Secret Security Clearance, and command our troops - especially not when we are at war with these people! (Velveeta: My rant is here in case you were wondering - LOL -<<<
But he will, Obama has even more dangerous connections than Kerry and Hilary.
I would bet the FBI is scared of the democrats and the results of taking their candidate out of the race.
Maybe it will be an October surprise and folks will wake up.
I remember that. And Zawahiri just released another tape.
I posted the Imm headlines on the W terror thread, there are about 3 links to the tapes at the top...
I’m too tired to even read them right now.
Also a bunch of kids were taken hostage by terrorists, Africa as I recall.
Every day the jehadi are attacking schools, some place.
Finally creeping into main stream media outlets:
Developer who vowed to follow Muslim law may face bankruptcy
snippet
Sunrise marketed its investments as compliant with Sharia law, which bars the collection of interest. “They targeted very religious people who probably had a lot of cash on hand, and they got local religious clerics to go along,” Azam said. “Now many of them stand to lose their homes and life savings.”
http://www.suntimes.com/lifestyles/religion/1175173,CST-FIN-sunrise20.article
This Rogers Park blogger is doing a great job of collecting facts on the issue:
FINANCIAL CRISIS FACING THE MUSLIM COMMUNITY
Part Five
http://rp1000.blogspot.com/2008/09/financial-crisis-facing-muslim_19.html
snippet
As someone once said (I think it was Alice, before she ate the ‘shrooms), “This just gets curiouser and curiouser.” We will keep you abreast of things as information becomes available.
TO THE NEPHEW: You have been e-mailing me. This is America, I am a natural-born American citizen exercising my right to free speech. I will not remove anything from this blog. PERIOD.
STOP PESTERING the people at Quest Network Services. I DO NOT WORK FOR THEM. You have become an obnoxious, whining interruption in their business day. It is better to talk to your uncle—perhaps he will tell you of his dealings with Salman Ibrahim. END OF DISCUSSION!
Tariq Siddiqui, partner of Salman Ibrahim = Obama bundler
http://news.muckety.com/2008/09/17/obama-less-than-transparent-when-it-comes-to-disclosing-bundler-info/5062
June 7, 2007
Please join
Chairs
Michael Bauer, Paula & Jim Crown, Honorable Dan Hynes, Sandy & Jack Levin, Penny Pritzker & Bryan Traubert, John W. Rogers, Jr., Marjorie & Lou Susman, Tariq Siddiqui, Jim Tyree
~snip~
for a Celebration with
Senator Barack & Michelle Obama
benefiting Obama for America
Friday, June 8, 2007
Co-Host and Sponsor Reception: 4:30 PM
Supporter Reception: 5:00 PM
CARNIVALE
702 West Fulton Market, Chicago
Co-;Host: raise $25,000
Sponsor: raise $10,000
Supporter: give $1,000
http://blogs.suntimes.com/sweet/2007/06/sweet_blog_scoop_obama_funder.html
Do something good this weekend in Rogers Park
Local drive for Hurricane Katrina’s victims!
ZAM’S Hope Community Resource Center, a non-profit organization that provides social services in Rogers Park and West Ridge, is organizing a food drive for Hurricane Katrina’s victims.
Saturday, September 10, 2005
Parking lot at the northeast corner of Devon and Rockwell
11am to 6pm
Remarks: 12:30pm
Senator Barack Obama
Please bring non-perishable food items, clothes and money to donate. Checks should be made payable to Katrina’s Relief Fund. Please donate generously!
Hosted by Mohammad Tariq Siddiqui. Sponsored by Alderman Bernie Stone (50th Ward), Broadway Bank, Countryside Bank.
http://72.14.205.104/search?q=cache:im75dZkMUyQJ:www.rogers-park.com/2005/09/do_something_go.html+%22tariq+siddiqui%22+chicago&hl=en&ct=clnk&cd=15&gl=us
Usmani (check for connections)
http://carnageandculture.blogspot.com/2008/07/sharia-showdown-on-wall-street.html
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