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Wednesday, March 16, 2011

Saleh Kamel Moves to Strengthen Ikhwan ( Muslim Brotherhood ) in Egypt

Saleh Kamel, non-warrior but still an Islamist who lives and integrated life. His busines, religion and politics are united in pricniple. He is Muslim Brotherhood business supporter, and he is opening a 100 Million Euro bank in Egyp. This venture will significantly strengethen the Muslim Brotherhood in Egypt.

Saleh Kamel is a well established supporter of Ikhwan business ventures world wide, including Islamic Banking.

  • He supports the spread of Sharia world wide, and is the most worlds' most powerful Islamist banker.
  • He does not overtly fund jihad, but as a supporter of Sharia, he has been instrumental in building an Islamic global financial structure, which enables Jihadsts to move outside Western Finanacial structures more and more often.
  • He was the first proponent and catalyst behind the emerging Certified Islamic Public Accountant credential.
  • When effective Generally Acceptable Accounting Pracitices (GAAP) are established for the CIPA, a new and separate finanacial accountability standard will be established.

This new Sharia standard will institutionalize a sharia tax called Zakat tax. Zakat is an admirable benevolence system that uses the tax for a number of good purposes. Unfortunately, it also can provide for funding Jihad. The giver can be separated from the receiver making the use of the tax less than trasparent.

The Zakat is collected, and Islamic banks have accounts set up for the collectors of Zakat. Some accounts are co-mingled, or dedicated to Jihad, like Account 98.

Therefore, if an Islamic Student group in the US collects donations to support Tsunami Victims in Indonesia, when the funds arrive in country it is perfectly ethical under Islamic Law and tradition to use the funds to equip and Pay Jihadists defneding of expanding the Ummah.

In this context, read the following news story -

Saleh Kamel, non-warrior but still an Islamist and Muslim Brotherhood business supporter, opens 100 Million Euro bank in Egyp. This venture will signficantly strengethern the Muslim Brotherhhod in Egypt.



1 billion EGP Bank to be established in Egypt, Saleh Kamel says

H.E Sheikh Saleh Kamel, President of Islamic Chamber of Commerce& Industry (ICCI) and Head of Saudi Council of Chambers of Commerce& Industry unveiled his plans of the initiative to establish the first Bank for Development and direct investment in Egypt, with registered capital of 100 billion pounds ($170 million) with the participation of Saudi and Egyptian businessmen.

Kamel announced during a meeting held by the Egyptian Businessmen's Association headed by Hussien Sabour said the bank "would be the first of its kind in the Arab unity and that it targets high-risk development projects and elimination of unemployment in Egypt."He added that businessmen have the chance to participate in the establishment of this bank.

He did not exclude the contribution of the government funds from two sides, pointing out that the Bank’s establishment depends on the completion of the governmental measures. Kamel outlined that the Saudi investment assets in Egypt have not been affected thanks to the staff, while the investment operating losses increased as a result of a slump in tourism and sales.For his part, Abdullah bin Sadek Dahlan, a Jeddah Chamber of Commerce board member and president of the Saudi-Egyptian Business Council said that the investment climate in Egypt is still in the forefront of the Arab markets in spite of the current conditions, pointing out that the Saudi investment in Egypt still exist seeks to achieve further development.

Osama Saleh, Chairman of General Authority for Investments and Free Zones said that Saudi investments comes on top of Arab countries investing in Egypt and the second largest investor in the world, pointing out that the General Investment Authority is seeking in the coming period to focus on supporting the policy of free economy.

The Rest @ ICCOnline

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