The chancellor has given Muslim leaders private assurances that he wants to create a “level playing field” in the economy, so that more and more “sharia compliant” financial products can be offered to British Muslims.
To comply with sharia law, financial products must not charge or earn interest, which is regarded as usury.
Brown hopes his proposed changes would remove barriers to many British and foreign Muslims participating fully in the financial system. They would help make London the natural home for Islamic funds from around the world, and increase the inflow of investment from oil-rich Middle Eastern countries.
“Making the UK and London a centre for Islamic finance means putting in place the tax and legislative framework that is supportive of Islamic products,” said a senior Treasury official.
“On top of this, we’re also looking at promoting the City abroad as a centre for Islamic finance.”
via Brown to boost Islamic banking – Times Online. This article dates back to March, 2006, but it’s importance has not diminished. Because in the present situation of global economic crisis Western countries are having similar ideas: for exmple the US:
The Risk of Shariah Finance: While Americans are selling their positions in U.S. companies, Middle Easterners flush with petrodollars are aggressively gobbling up these stocks at fire sale prices. Moreover, as American financial institutions report the losses that forced them to deplete their cash reserves, CEOs are begging for loans from oil-rich Middle East nations that have benefited from the rise in oil prices in recent years from $30 to nearly $100 per barrel. As one former Wall Street executive lamented, U.S. business leaders are “lining up to kiss the ring.”. (…) How might this harm America? If any of these investors, or a bloc of investors, gains enough controlling shares of a company, they can exact a dangerous influence. This might include the insistence that a corporation’s activities are halal, which would mean jettisoning business interests that include: banks charging interest; firms that are either based in Israel or are working with the Jewish state; firms developing weaponry used in Iraq, Israel, Afghanistan or other Middle Eastern states; casinos and other gambling companies; businesses that involve pork products; alcohol distillers and bottlers; publishers that release books critical of Islam; and even entertainment companies that could offend Muslim sensibilities or appear incompatible with Muslim values.
Melanie Phillips h/t Shariah Finance Blog was very clear as to the extent of the dangers: [Western leaders] don’t understand that the spread of sharia banking in Britain and America is a significant part of the attempt to Islamise Britain and America. Acceptance of sharia finance furthers the Islamist objective of gradually legitimising Islamic sharia law more generally in the west. (…) The most important point to grasp is that Islam recognises no authority superior to sharia. Sharia banks will therefore not recognise the superior authority of the law of the land. When trillions of pounds and dollars are locked into them, who will argue with them?
Tea and Politics 
what a horror the UK is……….
Angel’s last blog post..Geert Wilders: Banned from the U.K.
Hello, Angel. A horror?? That’s a really summed up version of “they are selling the Crown jewels to the Islamists, while abandoning the real moderates“. Really horrible 😦
And of course, they keep on with the tale of Wilders being a “racist”, in blogs where you cannot even give your opinion:
http://www.richardcorbett.org.uk/blog/2009/02/ukips-alliance-with-geert-wilders.html
Absolutely disgusting. 😦
When folks like us are more aware of the ramifications of introducing Sharia banking to the West over and above Western leaders something is horribly wrong. Then of course there is the possibility they are fully aware and do NOT care. Either scenario does not sit well with me. It is a dangerous game they are playing that affects everyday ordinary citizens.
Sharia bank loans/credit cards are interest free as paying/charging interest is not halal. Who wouldn’t love that? Fine in the Muslim lands. But in the West?! Oh hawl no. If European Muslims crave sharia so darn bad they should go back where they came from.
Gordon Brown is embracing dhimmitude as if he were born to it. Traitor.
velvethammer’s last blog post..Fitna
I’m for the second option, VH. But they do care. No, I’m not defending Eurabia myth, but I really think this has to do more with “personal interests” than with general ones. Just consider that doing this, Gordon Brown (who, by the way, does not have a lot of probabilities of winning next term…) will be perceived as “a friend” by the super-rich oil emirates and countries of the Gulf. I’m sure that that will easy any move he will do in the future (such as going to UN or moving to work in the private sector).
The problem for me is not the European Muslims but the European non-Muslims. There are even people defending that Sharia Law should be allowed as that would grant more freedom: the Muslims would be able to submit to the law they really want. Of course, they continue, NOT in the case of abuses of Human Rights. The problem is that they don’t understand that Muslims consider they don’t have to submit to the Laws of Land but only to the Laws of Allah.
So you explain that to them. But they continue saying that police and other institutions are to ensure that Laws of the Land are fulfilled. And then you see videos like this one.
You can see clearly there is NO possibility of fulfilling the Laws of the Land in the middle of non-Muslim quarters. Imagine if that happens inside the Muslim quarters (which as you know are instantly considered as “Dar-Al-Islaam”, that is, House of Islam, so the Laws of the Land are not even considered as they are not Allah’s doings, they are man-made).
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