SPLINA ULTRAGIATĂ A ZIONULUI

Șalom și salut, necredincioșilor, fiarelor, și Paisanoviților! Bine ați venit la casa căinței. Priviți coafura zionistă, refractară a Babei Z cum scînteiează, în timp ce ea izgonește pe Curvele Gramsciene, Porcii Fasciști, Papii din Laodicea, și Fiarele prădătoare ale Islamului, dîndu-i pe Mîna Atotputernică a Dumnezeului lui Israel. După ce se va termina de biciuit, se vor servi pișcoturi gramsciene și lapte de capră în salon. Vă rugăm și să gustați din plăcinta ocupației zioniste. L’Chaim!

Monday, July 7, 2008

3 Wood: Indonesia's Sharia Compliant Banking

BILLION $$$$ BABIES

ALICE COOPER

Indonesia has taken steps to broaden sharia banking

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"JAKARTA, June 17 (Reuters) - Indonesia's parliament passed a new sharia or Islamic banking bill into law on Tuesday in a bid to tap the potential of the Islamic finance sector in the world's most populous Muslim nation.

The sharia banking law allows foreigners to establish sharia banks in partnership with Indonesian citizens or local entities and also offers commercial banks the option of converting their business into sharia-compliant banks."

This allows outsiders (read "Big Petro-Money") to open sharia branches in partnership with local interests. How big is this likely to get?

"We hope this law can increase the turnover of sharia banking in Indonesia ... By 2013, sharia banking is expected to reach 5-10 percent of market share, compared to 2 percent currently," said legislator Dradjad Wibowo.

The impact of sharia banking is growing quickly.

"Global Islamic assets are growing at an annual pace of 20 percent and are set to hit $2 trillion in 2010 from the current $900 billion, thanks to a flood of petrodollars, Ernst & Young said in February."

Dr. Rachel Ehrenfeld Explains Sharia Banking

It will be very interesting to see what happens in the US with sharia banking in the future. As you know, mortgage interest for a primary residence is tax deductible, but sharia laws does not allow for the payment of interest. Therefore, I can not see where sharia mortgages have any portion that is currently tax deductible. Under sharia, the time value of the money is built into the principle repayment as a fee of sorts so it's not considered "interest". But such fees are not deductible.

I wonder if at some time in the future there will be some legal action by pro-sharia interests in the US claiming that the tax laws discriminate against Muslims practicing sharia.

Stay tuned.
~ 3 WOOD