Islamic Finance and Banking has nothing to do with Terrorism Financing

2007-10-28T20:54:00.000-07:00

In our opinion the biggest problem facing Islamic Finance today is that it is often confused with terrorism finance. Non-Muslims, especially those in West, believe Islamic Finance is somehow involved in financing the terrorist activities of extremist Islamic elements. We, as Muslims, have the obligation to explain to the non-Muslims, especially those in west, that Islamic finance is merely an alternate financing system which forbids interest and investment in such industries as alcohol, pornography and gambling. Lately we have been reading some very distressing articles written by some very ill-informed people about how Islamic banks are channeling funds to terrorist organizations. Through this blog we aim to clarify those misconceptions. Islamic banks DO NOT help terrorists. They are simply alternate banks. Sukuks are merely an alternative to regular bonds and they are not issued to fund terrorism. One can easily argue that Islamic banking and finance is actually ethical banking and finance. We strongly recommend that people do their own independent research before making up their minds about Islamic finance and banking.

In the future we will post more entries and opinions on this blog to spread our message. As it is, there is enough trouble in the world and we certainly don't need further misunderstandings. Thank you for taking time and trouble to read our views.

Islamic Finance Is Not Terrorism Finance

Islamic Finance and Banking has nothing to do with Terrorism Financing