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Saturday, June 21, 2008

Mohammed Taqi Usmani

Mohammed Taqi Usmani is a person of interest, since he is A Sharia Jurist, a person who makes decisions about what is an appropriate use of ZAKAT Funds, among other things. These funds can be used to support the expenses of Jihad, if a Sharia jurist things its is appropriate.

The following excerpt from the Sharia Finance Watch Blog covers this in much more detail.

-Shimron

Mohammed Taqi Usmani. Usmani is a Pakistani Sharia jurist who was formerly head of the Jihadist Deobandism sect that spawned the Taliban.

Usmani, is the author of a tract entitled, “Islam and Modernism” states that “the killings must go on”.
  • typically Shariah compliant funds or investments devote 3 to 5% of income to Muslim charities or Zakat.
  • it can easily reach between 7 to 8%, if authorized by the Sharia governing boards. That increased allotment could be tied cynically to Shariah approval of a so-called ‘purification’ process to ‘launder’ interest payments.
  • That means that there is an indeterminate flow of Islamic charity funds to possible Islamist terrorist front groups.
  • Stavis opined that neither the HIFP, nor the HILSP offered any ‘due diligence services’ to unwary investment banks endeavoring to complete Shariah compliant funding deals.

Given the track record of Wall Street on the subprime debacle, that shouldn’t surprise us.

Stavis and I commiserated about some of the large investments in Sharia REITS that have made corporate property acquisitions including the GM Building in Manhattan.......

..... Ehrenfeld said: “Whatever Muslims buy, they buy “in trust for Allah.” Once it belongs to Allah, it doesn’t matter who they sell it to, because they can always claim it as a Muslim property.”

The Rest @ Sharia Finance Watch

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