We recently posted this article on the American Congress for Truth blog and the ACT! for America news site, but we wanted to make sure you didn't miss it. You've seen us write about "Cultural Jihad," or the Islamist subversion of societies through means other than violence and terror. This is but the latest example of this.

Primer on Sharia finance: "Global Banks adopting Islam"

by Patrick Woods, NewsWithViews.com

The Bible warns that "... the love of money is the root of all sorts of evil" (1 Tim. 6:10) So, just when you think you have just about seen it all, something even more shocking turns up. Like this...

Either global bankers are seducing Islamic dictators, or vice versa. Even if they are seducing each other at the same time, the result will be the same: Islamic/Shari'a banking is coming to the United States and other western nations, thanks to global banks such as Citigroup, HSBC, Deutsche Bank, Morgan Stanley and Goldman Sachs.

With Great Britain now pledging to become the Islamic banking center of the world, the stampede by all global banks to enter the world of Islamic banking is well underway.

Western banking met Islam many decades ago, but only began to sleep with her a few years ago. Since then, it is has become a wanton and open affair.

The implications for the west, and especially for the United States, are staggering. Because all Islamic banking products must be created and offered according to strict Shari'a law, global banks are doing for Islam what it could never do on its own: give legitimacy to Shari'a and infiltrate it into the fabric of western society.

What is Islamic banking?

Simply put, "Islamic banking and finance" creates, sells and services products that are in strict accordance with Shari'a. In the Islamic culture, it is referred to as "Shari'a finance" and covers the practices of banking, investment, bonds, loans, brokerage, etc.

To insure Shari'a compliance, banks must hire Shari'a scholars to review and approve each product and practice as "halal," the Muslim equivalent of kosher in Judaism. Because there is a shortage of such scholars, there is competition between banks to find the best expert to sit on their boards of directors. This provides the highest legitimacy to each ruling because it is made at the director rather management level.

It should be noted that most of these scholars are from the school of radical Wahhabi/Salafi Shari'a in Saudi Arabia and elsewhere, holding views diametrically opposed to the basic values of Western civilization.

Shari'a finance has many differences from orthodox banking: Notably, it cannot charge interest (usury) and it calls for alms giving (zakat). It also calls for avoidance of excessive risk and may not be associated in any way with gambling, drinking alcohol, eating pork, etc.

Zakat demands a tithe of 2.5 percent of revenue be donated to Islamic charity. If western banks follow this rule, their contributions will be staggering. It is certain that a portion of this money will end up in the hands of radical Muslims who are sworn to destroy the U.S. and replace its government with Shari'a law.

Shari'a finance is a recent phenomenon. There were very few Islamic banks prior to 1980. However, with the Khomeini revolution in Iran in 1979, Shari'a was summarily imposed throughout Iran and Shari'a finance took off.

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