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Shari’ah Law Rips Pork From U.S. Fast-Food Menu
Here’s a claim that warrants closer scrutiny in light of recent events related to a Church’s Chicken franchisee in Baltimore: The demand for Islamic financial products has surged in recent years due largely to their transparent nature.
That claim stands as the lead paragraph of a news release issued out of Hong Kong (via PRWeb) by Zetland Financial Group today. It’s followed in the next paragraph by this one:
Islamic securities — known as “sukuk,” the Arabic name for a financial certificate — have gained universal acceptance as a feasible alternative to conventional financial products, and have the potential to develop as one of the most significant mechanisms to raise finance, Zetland reports on its website. (To read the rest of the Zetland news release, click here.)
What remains unexplained is how those behind the claim reconcile the claimed transparency of Islamic financial products with a recent real-world account of its application described in Todd Huston’s article that appeared in Shariah Finance Watch:
The Daily Record in Baltimore, Maryland, recently published a story by Brendan Kearney that oddly seems to present a conflict between a bank employing Islamic Shari’ah law with its American investments and some black American borrowers and painting it as a racist issue. Sadly, the real story, that of Islamic law being imposed on American investors, is sidelined in order to pursue the race card. (Full story reprinted at BlackEnterprise.com.)
As The Record reports, a black couple in Baltimore — I identify their race because it is pivotal to how The Record reports the story — had contracted with the Church’s Chicken restaurant chain to open a new outlet in Baltimore. Unfortunately for the entrepreneurial couple, as they were investing in their chicken outlet, Church’s Chicken was purchased by Crescent Capital Investments Inc., the US affiliate of the Bahrain-based First Islamic Investment Bank BSC. And, upon the restaurant chain’s purchase, these new Islamic corporate owners decided to institute Shari’ah laws upon their investments.
This caught the Beasleys new restaurant in a tough spot because pork products were on the morning breakfast menu for the Church’s Chicken chain. Because Shari’ah law principles had been imposed on the Beasleys’ new restaurant, they would be barred from serving their breakfast menu items, their corporate owners informed them. This barring from being able to serve their breakfast items, the couple maintains, contributed to the restaurant’s failure and their eventual bankruptcy. (Click here to read the rest of the article.
Brace yourself, folks. More news like this is sure to follow if Shari’ah law principles are allowed to be implemented alongside Islamic investments in the United States. The impact would be truly disastrous.
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April 25, 2008 at 06:14 pm by BMCWrites, 323 views, 3 comments




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Comments (3)
at 18:48 on April 25th, 2008
Hi Bob: Good posting. Let's not mix the western world's current Islam phobia by blanketing their financial system with the same negative sentiment that seems all too apparent in our media.
Many in the west are not aware that the Islamic banking or financial system has formed many of the pillars of our own financial system. Modern instruments such as stocks, letters of credit, promissary notes, among others are all instruments that were created within the Islamic banking system centuries ago and adopted by the west only in recent history.
Some western readers may be aware that Islam forbids the charging of interest. Many believe this to be the case (including most Muslims) because it is deemed to be interpreted as being a sin or being "unIslamic." The real reason is more practical. Centuries ago at during Islam's rise and during its golden age, Muslims were the merchants of the world, while Europe languished in the dark ages. The growth of the faith had as much to due with its commercial strength as it did with its military might. The Muslims merchants of that era were more concerned about prospering than with sin. Holding on to money and collecting interest was deemed to be commercially inefficient, and lead to hoarding. When all money circulated within the economy, the entire community would grow faster. Removing money from circulation, according to this philosophy, curtailed growth.
So, it is true that the Muslims of yesteryear and today do not subscribe to the Protestant ethic of working hard and saving, and diverge from the Western world's approach to wealth. Instead, if tradition and the future holds true, they will be involved in circulating the wealth they have accumulated to create even more.
at 19:36 on April 25th, 2008
Many are unaware of how this is already effecting our corporations, as more and more Islamic Money is pumped into our system. Fox News already had to change the way they reported news because of the Saudi Prince who owns a good proportion of the company as well as the bank that provides their financing. The Prince stepped in during the Danish cartoon riots. Do you know what he asked Murdoch to do? BMCWrites, I like this story. It's good stuff.
at 20:54 on April 25th, 2008
DoctorOK -- Visit Debbie Schlussel, read her articles about Shari'ah finance. If, after doing so, your views have not changed, then I'm afraid you're looking at the topic through rose-colored glasses.