Have Shariah-compliant financial institutions in the US been tied to terrorism?
Yes. Here are three examples: • Two Shariah-compliant banks registered in the Bahamas, Bank Al-Taqwa and Akida Bank, were, according to the US Treasury Department, shell companies actually run out of Italy and Switzerland, whose only real business was laundering money to terrorists. From 1988 until November 2001, when it was designated a terrorist entity by the US government and the UN, Bank Al-Taqwa transferred tens of millions of dollars to HAMAS, Al Qaeda, the PLO, Algerian Armed Islamic Group (GIA), the Taliban, Egyptian Gama’a al Islamiya and the Tunisian An-Nahda. • Today in 2008, there is an active lawsuit managed by the Cozen O’Connor law firm, representing 36 global insurance companies (Ace, Chubb, Allstate) and Cantor Fitzgeral which alleges that Saudi Arabia and a network of Shariah Islamic banks (e.g., Dubai Islamic bank) were the source and/or mechanism of funding the September 11th terrorist attacks and the U.S. Cole attack which murdered over 3000 Americans. http://www.p
Related Questions
- If we are funding terrorism when we fill our cars up with gas, are we also funding terrorism by managing this oil wealth in a Shariah-compliant way?
- Wouldn’t the creation of a Palestinian state stop the terrorism problem and solve most of the problems in the Middle East?
- Have Shariah-compliant financial institutions been tied to weapons of mass destruction?
