SHARIA LAW SNEAKED INTO LABOUR BUDGET

[itsnotoutthere]

SHARIA LAW SNEAKED INTO LABOUR BUDGET

THE Treasury plans to rewrite Britain’s tax rules to usher in a new wave of Sharia law for the country’s financial system.

The one-line revelation is buried in the 212-page pre-Budget report.

It is among a string of startling details which barely merit a mention in Alistair Darling’s controversial mini-Budget – prompting fresh accusations that Labour is “burying bad news”.

The Government wants to tap into the fast-growing Sharia finance market, set to top £205billion a year, and turn London into the “global gateway for Islamic finance”.

Many conventional financial products are not Sharia compliant because Muslim clerics view conventional loans, which involve interest payments, as sinful.

The UK Government was one of the first Western countries to issue a state-backed sukuk, an Islamic bond. It now wants to rewrite tax laws to stop Muslim businessmen being unfairly taxed when they try to raise money on their companies

Critics warn Labour is rushing into a financial system it does not fully understand and question how far laws should be rewritten to accommodate Islamic practices. The Financial Services Authority says its policy is one of “no obstacles, no special favours” for Islamic finance.

link:- http://www.express.co.uk/posts/view/145770/Sharia-law-sneaked-into-Labour-Budget

[MARAB0D]

Sharia finance system - is it the one which just pinched $60 billion through Dubai World? If so, it then becomes dangerous to keep the money in the banks at all!