Islamic Finance: What “Interest-Free” Banking Really Means

Islamic Finance: What “Interest-Free” Banking Really Means

Islamic finance is usually presented to Western audiences in reassuring terms. Muslims, we are told, are forbidden to pay or receive interest. Conventional mortgages therefore exclude observant Muslims from home ownership. Islamic finance provides an ethical alternative based on shared risk, responsible investment and interest-free banking. But is this true, and is it right?

Islamic finance is not simply ordinary banking with the interest removed. It is finance intended to comply with Sharia and presented as Sharia-compliant, requiring Islamic authorities to determine what is permitted, how transactions must be structured, which businesses may receive investment, and whether individual financial products meet Islamic requirements. Whether the resulting products actually conform to those principles is another question.

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Scott Stinson: Doug Ford’s love affair with corporate subsidies shows no sign of waning

Scott Stinson: Doug Ford’s love affair with corporate subsidies shows no sign of waning

Ministers with the Ontario government lined up on Friday to declare that an announcement from a Volkswagen subsidiary that it was delaying the opening of an EV battery plant in St. Thomas by two years was, in fact, good news. Great news, even.

“To me, it’s a great news story,” said Vic Fedeli, the minister for Economic Development, citing the fact that PowerCo now has a contract to begin building the facility, supported by at least $10 billion in subsidies from all levels of government, that it hopes will be ready by 2029.

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The Lindsay Clancy Case Shows Why Civilization Must Reject Feminine “Ethics”

The Lindsay Clancy Case Shows Why Civilization Must Reject Feminine “Ethics”

It’s difficult to assess the prevalence of the Clancy phenomenon, in which a female-dominated consensus, sentimental and vicious, formed swiftly around the alleged suffering and humanity of a woman who killed her three children in a premeditated act.

A YouGov poll from early in September showed that the difference between men’s and women’s reactions to the trial was not as stark as one might have expected from the public furor (women were more likely by about 10 points to support a verdict of not guilty).

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Muslims Support Terrorism and That’s a Good Thing

Muslims Support Terrorism and That’s a Good Thing

“Muslim friends and citizens, tax-paying citizens, and Muslims in nations were just appalled and could not believe what we saw on our TV screens. These acts of violence against innocents violate the fundamental tenets of the Islamic faith. And it’s important for my fellow Americans to understand that,” President George W. Bush had claimed in remarks at a mosque after 9/11 while accompanied by terror-linked Islamists. “The face of terror is not the true faith of Islam. That’s not what Islam is all about. Islam is peace. These terrorists don’t represent peace.”

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Conrad Black: Mark Carney’s EU blunder

Conrad Black: Mark Carney’s EU blunder

I have the painful duty of advising that I consider the basic points Prime Minister Mark Carney tried to make in his address on Sept. 27 to the European Parliament in Strasbourg profoundly mistaken. Readers should be aware that the European Parliament has no power whatsoever. The member states nominate commissioners in the different administrative fields, like cabinet ministers. The government apparatus in Brussels deluges the entire membership with decrees purporting to regulate an almost unlimited variety of activities, most of which the principal Atlantic English-speaking countries have considered unsuitable for government interference.

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Pope Leo’s mass appeal: American pontiff is met by 600,000 crowd as he arrives for outdoor service in Paris before heading for Lourdes

Pope Leo’s mass appeal: American pontiff is met by 600,000 crowd as he arrives for outdoor service in Paris before heading for Lourdes

Thousands of people have greeted Pope Leo in Paris as he arrives in the French capital for an outdoor service ahead of a visit to Lourdes.

Over 600,000 Catholics registered to attend the mid-afternoon mass on Paris’s famous Place de la Concorde, for what is expected to be the biggest event of the Pontiff’s visit to France.

Spectators arrived on the Champs-Élysées before sunrise to try to secure the best view of Pope Leo, who was driven down the boulevard in an open-top popemobile.

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German Priest Calls Islam ‘Alternative Christianity’, Muslims ‘Younger Siblings’ on 9/11

German Priest Calls Islam ‘Alternative Christianity’, Muslims ‘Younger Siblings’ on 9/11

German Catholic priest and theology professor has drawn heavy criticism after describing Islam as an ‘alternative form of Christianity’ and dismissing concerns about the Islamization of Germany. His argument, published on the anniversary of the September 11 terrorist attacks, is considered by many to be an attempt to minimize fundamental differences between the two religions while ignoring the threats that political Islam poses to Western civilization.

The author of the controversial piece is Oliver Wintzek, professor of dogmatics and fundamental theology at the Catholic University of Applied Sciences in Mainz and a priest at the Jesuit church in Mannheim.

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Canada’s Illiberal Export

Canada’s Illiberal Export

President Trump has found plenty to dislike about Canada lately. He slapped 50 percent tariffs on Canadian goods and even renamed Lake Ontario.

If the president is looking for another Canadian import worth taxing, he might consider the country’s particularly virulent strain of political correctness. America has certainly developed one of its own, but Canada has put the stuff on steroids: weaker protections for speech, aggressive human-rights tribunals, professional regulators eager to police opinions, and an elite culture remarkably comfortable empowering bureaucrats to enforce ideological conformity.

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‘It’s just getting worse’: anger in Maine over Trump’s trade war with close neighbor Canada

‘It’s just getting worse’: anger in Maine over Trump’s trade war with close neighbor Canada

It was an ideal summer to cut trees.

The weather in Maine’s Penobscot county – one of the most heavily forested counties in a state dense with trees – was warm and dry. Yet even as the county’s wood had grown to an ideal size to harvest, the machines Molly London typically uses sat idle.

London and her husband, Alex, who started a logging business nearly 10 years ago, had been waiting weeks for replacement machine parts that were no longer stocked locally because tariffs had made them too expensive.

By August, she and her husband decided to shut down their business, WW London Woodlot Management Company, exhausted after years of fighting ever-climbing costs.

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Why Texas is at war with Islam

Why Texas is at war with Islam

As the Global War on Terror got underway at the turn of the 21st century, then-President George W. Bush sharply distinguished Islam and Islamism. Islam, in this telling, was a global faith counting more than a billion adherents, including a few million in America, the overwhelming majority of them peaceful and loyal. Islamism was the noxious ideology that inspired 9/11 and numerous other attacks of the kind. Islam meant “peace,” as Bush insisted. Islamism meant war and terror.

In the years that followed, a few cultural flashpoints brought Islam’s place in America into public contestation. Even so, Bush’s distinction more or less held. But not anymore. Today, politicians and activists from his home state of Texas are promulgating school curricula that underscore the violent dimensions of Islam, mounting fierce opposition to new mosque proposals, and objecting to recent demographic changes in overtly racial and religious terms.

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A Markham Mailbox and a Spoofed Construction Firm: How a B.C. Coal Terminal Traced an Alleged $6.2 Million Fraud Into an Apparent Chinese Money Laundering Network Spanning Canada’s Biggest Banks

A Markham Mailbox and a Spoofed Construction Firm: How a B.C. Coal Terminal Traced an Alleged $6.2 Million Fraud Into an Apparent Chinese Money Laundering Network Spanning Canada’s Biggest Banks

VANCOUVER — For weeks this winter, the company that operates a coal terminal in the Port of Vancouver believed it was paying millions to the contractor building its new potash export facility. Like many elderly victims across North America taken in by spoofed emails and phantom investment deals, Westshore Terminals had been scammed.

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