And NOW IT BEGINS...

SHARIAH COMPLIANT FINANCE

IN THE UNITED STATES ?

 

 

 

November 7, 2008 – Traditional Values Coalition has joined with several other pro-family, pro-national security issues groups to oppose the Treasury Department’s embrace of Islamic Shariah Finance in the United States.

“TVC will be devoting a great deal of its time and resources to fighting the imposition of Shariah Compliant Finance (SCF) in our nation,” said TVC Chairman Rev. Louis  P. Sheldon. “This ‘financial jihad’ cannot be permitted to spread because this system helps finance terrorism throughout the world. We should not be financing our own destruction.”

The Coalition To Stop Shariah In The United States held a press conference on November 6, to protest the Treasury Department’s Shariah Seminar.

The Coalition issued the following statement at the press conference:

We are Americans opposed to the “stealth jihad” being waged in this country by those who promote Shariah-authoritative Islam’s theo-political-religious program for establishing a global theocracy.  As such, Shariah and its espousal of violent and stealthy jihad constitute sedition. We are determined to resist efforts now underway to create “parallel” Muslim societies and otherwise to insinuate Shariah into this country via its mosques, prisons, campuses, media, government and financial institutions. 

Of particular concern is the progress being made to establish Shariah-Compliant Finance (SCF) within Western, and most recently, U.S. banks and other institutions that trade securities.  Islamic finance’s leading Shariah authorities have made plain that they consider SCF to be “jihad with money,” “financial jihad” and a means of promoting their objective of destroying the West’s economic system and replacing it with an Islamic one.

Incredibly, in recent days, the U.S. Treasury Department has begun embracing Shariah-Compliant Finance.  Deputy Secretary of the Treasury Robert Kimmitt has professed an interest in “studying the salient features of Islamic banking to ascertain how far it could be useful in fighting the ongoing world economic crisis.”  According to a press report out of Saudi Arabia, he has declared that “experts in the Treasury Department are currently learning the important features of Islamic banking.”

To this end, the Treasury Department is hosting in its headquarters building on Thursday, November 6th a “seminar for the policy community” entitled “Islamic Finance 101.”  This event is being co-sponsored -- and, it would appear, orchestrated -- to promote Shariah-Compliant Finance by one of America’s leading promoters of the industry: the Islamic Finance Project at Harvard Law School.  Harvard has benefitted from the infusion of millions of dollars from a Wahhabi Saudi prince and his government. Such funds are evidently translating into its fealty to the Islamist agenda and the promotion of Shariah and SCF by Harvard professors such as Frank Vogel (who will preside at the Treasury seminar).  

It is especially alarming that the Treasury Department is now in a position to impose its submission to Shariah on the various financial institutions which it has bought in recent weeks or otherwise controls.  With the nationalization of Fannie Mae and Freddie Mac, its purchase of -- at last count -- 17 banks and the enormous leverage associated with its $700 billion slush-fund, Treasury can be an irresistible force should it actively promote Shariah-Compliant Finance.  The fact that Assistant Treasury Secretary Neel Kashkari, the official charged with administering that slush fund, is the host of “Islamic Finance 101″ certainly looks like active promotion of Shariah-Compliant Finance.

The Coalition to Stop Shariah calls on the Treasury Department to cancel this indoctrination session, to cease its efforts to promote Shariah-Compliant Finance and to recognize Shariah for what it is -- sedition -- and treat it accordingly by banning its use in U.S. financial institutions and products.