UK government to make provision for sharia financial requirements — I, at first didn’t think much of the FOX report that 50-percent of British Muslims want Shar’ia laws to be the laws of the land (presumably this includes provisions for “stoning” sinners and laws against blasphemy) then I ran into the following article quoted below. Strange.
Treasury minister Ed Balls has promised to improve access to core financial services to UK Muslims.
The forthcoming Finance Bill will seek to reconcile UK law with sharia law, which stipulates some behaviours which are difficult to sustain in the existing UK banking context, including a ban on earning or paying interest (‘riba’) which makes most savings and mortgage products on the current market unsuitable.
Islamic finance products have become increasingly available over recent years, but many providers continue to penalise Muslim customers, in effect, by charging disproportionate stamp duty and capital gains tax charges on particular products.
The Treasury reforms will aim to streamline tax imposed on diminishing musharaka (loans repaid in instalments) and takaful, a sharia-compliant form of insurance, with UK taxation practice.
The reforms aim “to ensure the tax and regulatory system will encourage the development of Sharia compliant products”, Mr Balls commented.
This poorly uploaded clip is interesting for a number of reasons. But at the end some weird group called Terror-Free Oil.org crops up with a plug. This group wants us to stop getting our oil from Saudi Arabia. In fact most of our oil comes from Canada already. Who are they kidding? Saudi Oil coming to the USA amounts to approx. 15-percent of our imports. So this is bogus and suspect. If they want to stop something make them stop the Saudi funding of all these radicalized mosques.
Yes the religon of peace is here!!!
The Brits are using common sense. 1.6 million Muslims live in the UK. Shar’ia law prohibits them from using western banks. If half of the devout follow, then the economy is unable to take advantage of their productivity. This change will integrate the faith and values of the UK Muslim populace (many of whom are third generation British) with the economy, essentially making Islam in the UK a middle class franchise.
Why doesn’t somebody open a bank that caters to the need of the Muslims, without changing the law?
Not just a British problem for long. It will find it’s way across the pond in the next few year.
Why doesn’t somebody wake up to the fact that sharia law is archaic and barbaric?
I wish the world would join the 21st Century. Religion has outlived its usefulness.
Does this mean the U.K. followed by the U.S. will soon have to open banks catering to the financial whims of Flying Spaghetti Monster devout? If they don’t, I’m gonna complain, you bet.
And the Brits will attempt appeasement with the Muslims, just like they did with Hitler, with just as much success.
Unbelievable…
We’ve already had a push for sharia law, as applied to family law matters, here in Canada (Ontario), in 2005.
It was quickly stomped on by Ontario Premier McGuinty who said there should be one law for everyone…so the issue has gone away for now. Women’s groups are especially opposed to sharia law as being discriminatory.
There are approximately 1 million Muslims in Canada at present and growing, so I expect the issue will return at some point…and yes we do supply the bulk of U.S. oil and natural gas imports, so keep warm my American friends…you’re welcome!
#4. Just so long as we haven’t succumbed to hysteria over a few banking rules.
Don’t get your shorts in too much of an uproar. Those 2nd and 3rd generation children of muslim families could care less about Shar’ia. What this article is sanitizing is both the Labour Party and the Conservatives kissing muslim butt for votes. That means the old farts who’ve convinced the pols they can swing muslim votes their way.
Same old farts who control 1st generation businesses in the muslim community — just like the bible-thumping who-hahs who get their wallets bussed by neocons, here.
But, the younger set goes outside their community for jobs — and eventually the rest of their lives. Just as the best and brightest in the bible belt stateside move their brains to a life beyond the religious ghetto their parents are stuck in.
>>And the Brits will attempt appeasement with the Muslims, just like they did with Hitler, with just as much success.
Just like the “Shoot first, ask questions later” approach has worked wonders for the US.
Always looking for a opportunity to plagiarize myself (less to type that way), didn’t I say this a week ago?:
“Muslims immigrating into Western culture usually expect to, and do, bring their customs and mores along with them, and that many of those customs and mores are violent, primitive, and simply not acceptable to civilized people. This is in no small part because, exactly as the Muslim stereotype informs us, the Muslim culture is, like most all primitive cultures, ethnocentric.”
Then add a few well-meaning but pathologically gullible politically correct individuals and groups to agitate against “intolerant” “discriminatory” “racist” attitudes and policies that interfere with the immigrant community’s “right” to degrade and dismantle the host culture, insisting that it must change to accomodate them, and…
Bingo! Another marlinspike in the coffin of Western civ.
The Saudi Oil affects oil prices, that’s why.
You make a good point, John C.
When you consider it, the Saud family (anyone remember them, the close personal friends of the Bush family? The ones Bush allowed to fly right after 9/11, when all American citizens were forbidden to do so?) is the 1000-kilo gorilla of OPEC, what they say pretty much goes…
Oh, well. As long as they continue to finance, construct, support and promote Wahabbist schools, they truly qualify as the West’s greatest enemies.
#18 That is why all the blather about making the US independent of “foreign” oil is so much BS. Even if we were to drain the Gulf of Mexico and the ANWAR dry, it would all still be sold at the prices set by OPEC. If the US is tired of dancing to the tune called by such charmers as Comrade Hugo Chavez, the mullahs in Tehran, and the princes in Riyadh, we need to be independent of all oil.
This is bizarre.
So instead of charging interest, which is the cost of money, they will jump through artificial religious hoops to recoup that cost via other means that are not as transparent?
What happened to these people coming to their countries to integrate and live like us? Now we have to change our economic system to accommodate them? This is cultural cringe on a scale that defies belief for a relgious system that is medieval in its evolution and sophistication.
Bizarre.
YO! DUDE!
Has anyone realized that the diagram shown attached to this article looks like a Hydrogen Implosion bomb?
I spend all my life in Sharia laws, and i can say it can be illogical and not practical quite often.
Religions have gone all crossed when it’s managed by narrow minded ignorant fools.
Then these people goes writing their ideas on paper and claim it’s from GOD 1800 years ago.
How can we tell what’s from God and what came from the backside of a human being?
A strange fact few knew about Sharia laws..
Some Arab nations have unspoken truth. Here’s one…
Due to strict enforcement of Sharia law in some Islamic nation, young men had their first sexual experience with other men before getting married. Some maintained homosexuality into later life.
#9 – what a ridiculous comment… Britain couldn’t fight Hitler at that moment… It needed time to build up its resources. Appeasement was a stalling tactic. Britain didn’t have the luxury of many thousand miles between itself and its nearest enemy.
I think it’s a great effort made by the UK government! Giving Muslims an easier access to the financial markets and products will benefit us all. The banks will do more business, the taxation applied will generate income for the government and the loans extended will enable Muslim families to invest more and faster attain a higher standard of living. You need a buck to make a buck, or so they say…
Muslims in Europe are often living in areas with low standards of living and higher than average crime rates. Many are stuck there because they have no economic possibility to raise the money required to move to a better neighborhood. Applied racism keeps an often highly educated workforce busy performing tasks way below their capacity – a serious waste of human capital.
I think this is a great opportunity for a faster integration and assimilation of Muslims into the general society. As we grow more integrated, the harder it will be for radical and dangerous ideas to take hold in young people.
Of course we could ask them to change their interpretation of the Koran, but I expect this will be a harder sell. If this initiative can help, I see no reason not to go forward.
Although much of our oil does come from Canada, Don’t make a mistake and buy oil from someone that dosen’t. There are 4 gas stations at the corner where I buy gas, but only one of them dosen’t buy oil from the Persian Gulf.
This site will tell you if your oil comes from the gulf.
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/summary2006.html
It seems like you mixed issues — sharia law for citizens is enforced while Islamic banking would be totally voluntary.
I’d oppose the first but support the second.