David Cameron is about to invite the Muslim World to buy a bond that follows the zero interest principle of Sharia laws.
The rapid expansion has attracted interest in the UK, which will this week for the first time host the “Islamic Davos”, or the World Islamic Economic Forum – where David Cameron, prime minister, will announce his government will be the first outside the Muslim world to issue a bond that adheres to the principles of Islamic jurisprudence.
Islam prohibits interest, which is deemed haram or sinful, and stipulates that all investments should be based on “real” assets, such as houses, factories and roads. Islamic financial products are structured to mimic conventional ones such as mortgages but adhere to these strictures.
Islamic bonds, or sukuk, have been one of the more high-profile examples of the industry’s growth. In 2003 $3.5bn of international sukuk were issued. Last year sales hit a record of $44.8bn, according to Dealogic.
Still, the growth of domestic Islamic banking has been a disappointment. Despite high hopes that British Muslims would flock to the new sharia-compliant institutions, interest has been limper than expected.
Source: Financial Times
Europe is dying. Simply because the Europeans do not longer want to fight for freedom, liberty and human rights.
The value of Pound Sterling is no longer linked to the amount of gold held by the Bank of England. Heavily sunk into debts: Forget about the UK Government paying back what it has borrowed, emptying its own pensioners funds. The UK are now hardly able to pay interests on its loans.
In a bid to save the capitalist system from collapsing, the British banks will merge with the Islamic financial system. London will be introduced to Sharia based Islamic banking. Westminster will now be able to restructure its debts, paying a zero interest rate.
‘Be careful to do everything I have said to you. Do not invoke the names of other gods; do not let them be heard on your lips.
For the Islamic World this is to be considered the surrender of the United Kingdom. The British leadership desire Islamic capital to take over the nations financial system. Keep in mind that even Islamic banks do demand proper securities behind every loan, in the form of legal attachment of properties and other assets.
Islamic Banks makes much of their money on funds and property management. If the Brits cant pay back their loans, the Muslims will simply attach their properties. In a time of overspending and crises, all the banks, financial institutions and real estate sector, will simply be taken over and owned by the totalitarian princes of Riyadh, Dubai and Abu Dhabi.
Welcome to the downfall of Europe, submitting to Sharia laws.
Written by Ivar