links for 2010-01-05

Dubai: crisis caused by Islamic bonds

The Dubai World default on sukuk, also known as “Islamic bonds,” was centered on financial products which were approved by Shariah scholars. Making investments Shariah-Compliant was supposed to protect investors from crisis and calamity. We heard and read such claims from financial jihadists over and over again after the Subprime collapse.

But Shariah-Compliance not only did NOT protect investors, the Dubai sukuk default was just the latest in a disturbing pattern of sukuk defaults. In fact, there is evidence to suggest that the default rate on the Shariah-Compliant sukuk is greater than that on conventional bonds, despite claims from the financial jihadists to the contrary.

Moreover, Shariah-Compliance turned out to be the chief obstacle to settling the crisis after the fact because the arcane rules of Shariah didn’t cover such a scenario (despite the line of sukuk defaults over the past two years).

Nevertheless, the financial jihadists are fast at work to defend Shariah. It was “excess” and “greed” which caused Dubai World to break its promises. Never mind that Shariah-Compliance was supposed to eliminate those factors to begin with.

via Shariah Finance Watch » Blog Archive » Dubai in retrospect: Don’t Blame Shariah!.

You know, outside Western world there is no greed… :mrgreen:

Related: Vatican support for Islamic banking @ Shariah Fortune. :roll:

Iran: EU Parliament Delegation’s Visit to Tehran Postponed

By Iran:

“The visit to Tehran by the European Parliament’s delegation was postponed to another time,” Mehman-Parast told FNA on Sunday.

He reminded that the European parliament has been informed of the postponement, adding that the Iranian parliament will inform the European side of the possible date for the visit.

Referring to the cause of the delay, Mehman-Parast said that the visit was postponed due to the necessity of advance-planning to maximize constructive and mutual parliamentary cooperation between the two sides

via Fars News Agency :: EU Parliament Delegation’s Visit to Tehran Postponed.

What is worse, the cancellation has taken the EU delegation by surprise.

Related: Deadlines and Opportunities Unforgivingly Missed @ Wolf Howling. On Obama’s Position on Iranian nuclear program:

One, it makes no logical sense to think that the unrest in Iran has slowed down the march to a nuclear weapon in the slightest. Merely because Khameini is giving out orders to crush protests does not mean Natantz shuts down or that nuclear scientists at an IRGC base in Qom stop working on a nuclear trigger. Two, Obama is apparently ideologically set against supporting regime change in Iran. The article quoted above suggests that his administration sees the unrest in Iran as merely an opportunity to get the regime to forgo its nuclear operations. Yet it is only regime change that will end the threat to the world posed by the mad mullahs. Both the history of this most evil of regimes and their apocalyptic and triumphalist ideology tell us that anything that might slow down their march towards a nuclear weapon will do so, if at all, then only temporarily.

Afghanistan: Bomber at CIA base was Jordanian national working for intelligence

This is an update on this story:

The suicide bomber who killed eight people inside a CIA base in eastern Afghanistan last week was a Jordanian doctor recruited by Jordanian intelligence, a former senior U.S. intelligence official and a foreign government official confirmed Monday.

The bombing killed seven CIA employees— four officers and three contracted security guards— and a Jordanian intelligence officer, Ali bin Zaid, according to a second former U.S. intelligence official. The officials spoke on condition of anonymity because they were not authorized to discuss the incident.

The former senior intelligence official and the foreign official said the bomber was Humam Khalil Abu-Mulal al-Balawi, a 36-year old doctor from Zarqa, Jordan. NBC News first reported the bomber’s identity.

via Sources: Bomber at CIA base was from Jordan – BostonHerald.com.

He belonged to Jordanian intelligence according to NYTimes:

The bomber had been arrested in Jordan and recruited by that country’s intelligence service — which believed that it had turned him into an ally — and then brought to Afghanistan to infiltrate the Qaeda organization by posing as a foreign jihadi.

Another case of “rehabilitation of jihadist”, who was not rehabilitated. :mad:

And more:

The Jordanian intelligence services had brought the bomber to eastern Afghanistan with the specific mission of finding al-Qaeda number two, Ayman al-Zawahiri, believing he was their double agent, US network NBC News reported late Monday, citing Western intelligence officials.

More here.

Of course, he fooled his family and friends: he told them he wa sin Turkey to study.

Terrorism: Rehabilitation by painting?

Saudi Arabia has already had surprising success with a pilot program that does just that, he says. In prison, jihadists undergo psychiatric counselling to convince them that using violence to bring about change is unacceptable, and recruits with little education get a chance to study and debate Islamic law.

… ”In the future, the world looks young and poor and that’s the segment of the global population to whom radicalism is going to be most appealing,” he says. “So it you decide to treat that entire group of people as though their entire political opinions are nothing short of a disease because they don’t align conveniently with Western interests, you are setting yourself up for disaster.”

via Terrorism rehab: Fighting jihad with writing, art contests.

Yeah, don’t make me laugh: that’s why the Jordanian Jihado-terrorist who killed 8 people in a CIA secret building in Afghanistan had been rehabilitated. And also two ex-GITMO also were “surprisingly successful” after Saudi Arabia’s psychiatric counselling in… escalating posts for being leaders of AQ in Yemen. Experts say that the program is not carrying substantial changes on Jihadists’ views, only they are taught to stay away from terrorism:

In 2009, Horgan visited several of the Saudi terrorism rehab centers to report on the programs for Homeland Security.
“These guys are not being de-radicalized. They are being encouraged to disassociate from terrorism, but that doesn’t mean their fundamental views changed,” said Horgan, director of the International Center for the Study of Terrorism at Penn State.

The second statement (poverty causes terrorism) is even more striking. Bin Laden is a millionaire but it’s not the only one. Most of them are educated (Al-Zawahiri) and have travelled to the West to study and live, something only rich people can do, specially considering their countries’ background:

It is a common myth that poverty creates terrorists, but this caricature doesn’t bear out. To the contrary, members of radical Islamist terror groups tend to be better off economically and more educated than their demographic cohorts.

This is easy to support anecdotally. The world’s most wanted terrorist, Osama Bin Laden, comes from an immensely wealthy Saudi family. His top deputy, Ayman al-Zawahiri, is a trained doctor from an upper-middle class Egyptian family. The leader of the 9/11 terrorist attacks, Mohammad Atta, was a graduate student in Germany. One of the 2005 London bombers left an estate valued at over $150,000. The list goes on.

Empirically, the evidence is even more compelling. In a study of Palestinian Islamist terror organizations from 1987 to 2002, Princeton economist Claude Berrebi discovered that members of these organizations were frequently better educated and better off economically than the Palestinian Arab population as a whole.

Read it all…

The last example is Pantybomber: his father, one of the richest businessmen in Africa, is also one of the main promoters of Shariah Law in Nigeria and abroad. Mr. Muttallab Sr. denounced him to the CIA only when he thought that his son’s behaviour could damage his interests in Western countries.

Terrorism: Somali threats against Swedish illustrator

After the attack on Westergaard, the threats continue:

Swedish artist Lars Vilks, who sparked outrage with caricatures of the Muslim prophet Muhammad as a dog, has received threats via telephone from Somalia.Police in Helsingborg in southern Sweden are taking seriously the threats made against Vilks, which come just three days after Danish cartoonist Kurt Westergaard was subjected to an axe attack at his home in Denmark.

The first of two phone calls to Vilks came on Monday morning. A subsequent check by the Swedish artist revealed that the call originated in Somalia, where the Islamic militant group al-Shabaab has gained increasing influence in the war torn country.

Al-Shabaab is also believed to have ties to al-Qaeda.

In the last month, al-Shabaab supporters who reportedly used to live in Denmark have killed at least 22 people, including three ministers, in a suicide bomb attack carried out in the Somali capital of Mogadishu.

via Somali threats against Swedish illustrator – The Local.

To see the cause of the great outrage, click here.

Kenya: Sheikh Abdullah al-Faisal to be deported

The sheikh was arrested by the Anti-Terrorism Police Unit in Mombasa. The cleric, who entered Kenya through the Lunga Lunga border point from Tanzania, is to be deported to Jamaica this week. Al-Faisal was deported from Britain after serving a five-year jail sentence on terror-related charges.

Mr Kajwang’, who is in charge of Immigration, said that Sheikh al-Faisal is on an international watch-list of terrorists and would not have been allowed into the country had he entered through Jomo Kenyatta International Airport, Moi International Airport or any other entry point linked to the e-border control system.

The cleric has previously been denied entry into Kenya. Before his arrival in Kenya, he had travelled to Nigeria, Angola, Mozambique, Swaziland, Malawi, and Tanzania. He was arrested minutes after attending evening prayers at a Nyali mosque.

“I have already signed his deportation letter and he will be deported back to his country at the earliest opportunity. The information we have is that he was arrested in Britain and jailed five years ago on terrorism-related charges. We are not deporting him because he is a Muslim,’’ Mr Kajwang’ said.

He went on: ‘‘We are deporting him because of his terrorist history and the fact that he is on the international watch-list. We have no charges against him, but he took advantage of the situation at Lunga Lunga border to enter the country. He deliberately entered by road at a border point not linked to our computer system.”

via Breaking News, Kenya, Africa, Politics, Business, Sports, Blogs, Photos, Videos - Jamaican Muslim cleric to be deported.

Trying to fool the infidels, weren’t you Faisal? :mrgreen:

Venezuela: Chávez ushers restrictive energy measures

Oil-rich Venezuela ushered in 2010 with new measures rationing electricity use in malls, businesses and billboards, as Hugo Chavez’s government aimed to save power amid a crippling drought.

The new regulations came into effect January 1, with businesses required to comply with reduced consumption limits and authorities warning of forced power cuts and rate hikes if the measures are not followed.

via Socialist Hugo Chavez Rations Electricity | The Lonely Conservative.

Amazing what this gal is doing to Venezuela.

Germany: Kurdish man jailed for life after “honor killing” his own daughter

20-year-old Gulsum Semin, "honor killing" victim

20-year-old Gulsum Semin, "honor killing" victim

“A German court imprisoned a Kurdish man, 50, for life on Tuesday for ordering the “honour killing” of his own daughter after being told she had lost her virginity. A son and an Azeri friend lured the 20-year-old woman, Gulsum, to a lonely country road near the Dutch border, throttled her with a rope and clubbed her to death, inflicting horrific injuries to her face.”

“The state court at Kleve sentenced Gulsum’s brother, 20, to nine and a half years in youth prison, just short of the maximum youth sentence of 10 years. He and the victim were two out of three triplets. He had confessed to the killing after he was arrested.”

“His helper, 37, was jailed for seven and a half years.”

“Judges said they were convinced the only motive to murder Gulsum had been that she was no longer a virgin and had secretly undergone an abortion.”

via Pakistan Christian Post.

More here:

Spokesman for the North Rhine-Westphalia regional court, Gerhard van Gemmeren, said: “At the basis of the offence is the fact that the culprits presumably did not agree with the victim’s Western attitude to life.”

The convicted man’s son and an Azeri friend carried out the killing. They lured Gulsum to a country road, strangled her and battered her beyond recognition. The victim’s brother’s lawyer Hans Reinhardt said he believed his client could not help himself.