Right, just a quickie, because this is fast becoming a blog about Melanie Philips, but my attention was drawn to this and it seemed a little, erm, questionable.
“The $18billion (£12bn) in assets of Britain’s Islamic banks are said to dwarf those of Muslim states such as Pakistan, Bangladesh, Turkey and Egypt. And there are also 55 colleges and professional institutions offering education in Islamic finance in Britain – more than anywhere else in the world.”
Just to start with, having more money invested in sharia compliant banks than Bangladesh manages is not what I’d call impressive, or threatening. While being a Muslim nation, Bangladesh is also very, very poor. I haven’t the time to check what the status of sharia compliant banking is in, say, Egypt, but I’m guessing you don’t know how popular/legally accepted it is either. All we have is a list of countries, we know nothing about their circumstances. Before we know how impressive the £12 billion is, let’s not panic.
“What they refuse to acknowledge is the real price that is to be paid for this. They don’t understand that the spread of sharia banking in Britain and America is a significant part of the attempt to Islamise Britain and America. Acceptance of sharia finance furthers the Islamist objective of gradually legitimising Islamic sharia law more generally in the west.”
I vaguely remember something similar reminding me of the Protocols of the Elders of Zion – who has this nefarious scheme to Islamise the West? A few terrorist groups do not an international conspiracy of Masons and bankers make. And surely the legitimisation of sharia banking only helps legitimise sharia banking, not the whole system of sharia. I can approve of a tidy return on my capital without also agreeing that apostates can be stoned.
“The point which is being missed is that all who use it must conform to the dictates of sharia law. Sharia financial institutions may not be making this clear now – they don’t want to frighten people away – but at some point that IOU of sharia-compliance will be called in. This is how sharia-compliance will be spread to both the Muslim and non-Muslim population.”
While there is still capital available for lending in a competitive banking system, any company whose sharia compliant loan is called in will find one elsewhere. The price of pork is unlikely to fall on the basis of lending blackmail anytime soon.
“Any Western institution that endorses sharia-compliant products therefore effectively endorses the extremist ideology behind it of conquering the west for Islam, whether it knows it or not.”
No, again, you endorse the product you’ve bought into, not the principles behind it. In exactly the same way, worshipers of the Church of England do not, merely by virtue of weekly donations, endorse the arms companies the Church invests in. You are still entirely free to oppose them or to find alternative places of worship run along similar, but less offensive, lines.
“The most important point to grasp is that Islam recognises no authority superior to sharia. Sharia banks will therefore not recognise the superior authority of the law of the land. When trillions of pounds and dollars are locked into them, who will argue with them?”
A redundant point – the Law still recognises no law higher than the Law.
“But charity in Islam is more like solidarity. So some of this money donated to Islamic charities may well find its way to organisations promoting jihad and supporting suicide bombing including Hamas, Hezbollah, the families of Palestinian suicide bombers and Islamist madrassas in places like Pakistan.”
See earlier point about the Law – particularly in this case the laws on money laundering and funding of proscribed groups – and watch them try.
“Only certain Islamic authorities are entitled to issue the religious rulings or fatwas that can recognize investments as sharia-compliant. But the people and institutions making the decisions about where this money is sent are themselves often highly questionable.”
Indeed they are, which counsels caution on which product you invest in/borrow from, but doesn’t demolish the principle of sharia banking as such. In the same way, the fact that some banks have been very badly run does not mean you should avoid usury.
“What has to be understood is that sharia finance is simply a modern jihadi strategy to help Islamise Britain’s institutions and society. It was devised in the mid-20th century by the ideologues who promoted the radical Islamism that threatens us today.”
And here’s the rub – how, exactly, does the banking ‘Islamise’? What would ‘Islamise’ even mean in practice? The fact the local mosque holds my mortgage does not make me any more likely to worship Allah. It wouldn’t make me any more likely to subscribe to any Islamic principle. So long as there are non-Islamic banks I can seek a remortgage from, it is never possible that they can. I still find their fruitier beliefs repugnant and continue to resist their enforcement through the democratic process. The law is still the law and will still be upheld. Nothing in this article offers any reason to believe otherwise. It’s just paranoia.