By Quin Hillyer
It was treated as big news on Tuesday when Manhattan District Attorney Robert Morgenthau indicted Chinese executive Li Fang Wei and his company for using New York banks to finance the sale of tons of restricted, weapons-related material to Iran. But the truth is that some of these same banks and other major financial institutions, including those bailed out by American taxpayers, for years have deliberately been supporting "Shariah-compliant" financial policies that almost assuredly end up being used to support illicit Middle Eastern, terrorist interests with close ties to Iran.
That's all the more reason why more and more American states are wisely divesting from companies that do business in Iran, Sudan, and perhaps Syria and other nations or entities that support terrorism. To date, 13 states, either legislatively or administratively, have divested pension funds, investment funds, or other holdings from businesses dealing with Iran or other terror-related nations. Any day now -- perhaps even today -- Indiana will become the 14th, with its "divest terror" measure already having passed both the House and a Senate committee unanimously. At least five other states are considering similar moves.
This nationwide effort is being spearheaded by "Divest Terror," a project of the Center for Security Policy. Also under CSP auspices is "Shariah Finance Watch," which like "Divest Terror" is led by New Orleans native Christopher Holton, formerly head of the Blanchard and Company Economic Research Unit. Read more ...
It was treated as big news on Tuesday when Manhattan District Attorney Robert Morgenthau indicted Chinese executive Li Fang Wei and his company for using New York banks to finance the sale of tons of restricted, weapons-related material to Iran. But the truth is that some of these same banks and other major financial institutions, including those bailed out by American taxpayers, for years have deliberately been supporting "Shariah-compliant" financial policies that almost assuredly end up being used to support illicit Middle Eastern, terrorist interests with close ties to Iran.
That's all the more reason why more and more American states are wisely divesting from companies that do business in Iran, Sudan, and perhaps Syria and other nations or entities that support terrorism. To date, 13 states, either legislatively or administratively, have divested pension funds, investment funds, or other holdings from businesses dealing with Iran or other terror-related nations. Any day now -- perhaps even today -- Indiana will become the 14th, with its "divest terror" measure already having passed both the House and a Senate committee unanimously. At least five other states are considering similar moves.
This nationwide effort is being spearheaded by "Divest Terror," a project of the Center for Security Policy. Also under CSP auspices is "Shariah Finance Watch," which like "Divest Terror" is led by New Orleans native Christopher Holton, formerly head of the Blanchard and Company Economic Research Unit. Read more ...
Source: The American Spectator
H/T: Shariah Finance Watch
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