111Sharia News Watch 110
- Mar 19, 2004Sharia News Watch 110 : a collection newsquotes on Sharia, for
research & educational purposes only. [*] Shortcut URL:
SPECIAL NOTE : This is the LAST edition of Sharia News Watch.
The Sharia Newswatch provided a regular update of news quotes
on Sharia (Islamic Law) & Islamic news, as appearing on the major
All editions : http://groups.yahoo.com/group/shariawatch/
Bahrain Shiites riot over morality - 15 Mar 04
Shiite Muslims in Bahrain are targeting expatriate Asians in violent
protest of alleged ties to liquor and prostitution, WorldTribune.com
reported Monday. Beginning last Thursday, hundreds of Shiites rampaged
through the Bahraini capital of Manama, storming the homes of Asian
expatriates accused of being involved in the liquor and prostitution
trade. Dozens have been injured in sporadic outbreaks.
Western diplomatic sources said they suspected the riots were
organized by Shiite fundamentalists linked to Iran, and were meant to
ward off Western tourists and particularly U.S. military personnel.
The U.S. Fifth Fleet is based in Manama.
Fatwa against Ahmadiyyas in Noakhali village - 12 Mar 04
People of the Ahmadiyya community of Ambarnagar village in Noakhali
district are passing through utter insecurity after a local Imam
ostracized them issuing a fatwa that they were non-Muslim. Moshed Alam
Chowdhury, claiming to be a victim of the fatwa, alleged Maulabi
Salauddin, the Imam of local Baitush Sharif Mosque declared the
community non-Muslim after the Jummah prayers On March 5 and asked the
locals to boycott them socially. He said the fatwa put his community
under siege as people feared going out of house and relatives stopped
visiting them. "After the declaration of the imam, his followers
threatened us coming out of home, forced me to shut down my chamber in
the bazaar and local youths beat a maid for going to shop for us,"
Morshed, a homeopathic doctor, alleged.
BOSNIA & HERZEGOVINA
U.S. giving military support to Chad in fight with militants-13 Mar 04
U.S. military cargo planes have been delivering food, blankets and
other supplies to forces in Chad as they have fought Islamic militants
there, and American surveillance aircraft have helped track the
militants, officials said yesterday. The Chadian army battled Islamic
militants near a remote village on the country's western border with
Niger this week, killing 43 members of a group suspected of links with
al-Qaida, the Chadian government said. Three soldiers were also
killed, the government said. State Department spokesman Richard
Boucher identified the militants as the Salafist Group for Call and
Combat, an Algerian Islamic group the department has branded a terror
organization. Boucher said no U.S. forces participated in the
The force of a fatwa [Cairo Times, 2004, Issue 3 vol 8] - 17 Mar 04
Religious rulings are an integral part of Islam, but Julien Dacey asks
what happens when they become part of politics as well.
In the land of Cleopatra, youngsters rush for a facelift - 16 Mar 04
"Cosmetic surgery is thriving under the influence of the media,
especially television. Janitors and night guards can be seen watching
TV on sidewalks," said Dr Alaa Gheita, the president of Egyptian
Society of Plastic and Reconstructive Surgeons. "There are a dozen
local TV stations and you will find it difficult to keep track of
satellite channels," he told Gulf News. Over the past couple of
years, satellite TV stations have mushroomed across the Arab world.
The Arabic versions of the MTV are proving hugely popular with
youngsters of both sexes. These stations play music vireos almost
round the clock, showing a legion of singers who, critics say, care
more about their looks than their performance. Their videos have drawn
the ire of the older generation, who dismiss them as steamy.
Muslim clerics frown upon this craze for cosmetic surgery. Youssef El
Qara-dawi, a prominent Muslim scholar, was recently quoted in a fatwa
(a religious ruling) that undergoing such procedures to have one's
nose, breasts or other body parts reshaped contradicts Islamic tenets.
"It means an unnecessary change of the form God has created."
Qaradawi, nonetheless, says Islam permits plastic surgery if it is
aimed at removing abnormal defects 'which cause physical or
psychological pains'. Despite economic hardships, university students
from different social backgrounds are mostly interested in cosmetic
surgery, according to a noted medical expert.
[Andra Pradesh] Muslim religious leader condemns fatwa - 12 Mar 04
The conference of world religions on Thursday sharply criticised the
fatwa issued by a mufti in Agra excommunicating 54 pro-BJP muslims
after they reportedly expressed the view that singing of National song
vande mataram was not 'Un-islamic'. Moulana Ghousavi Shah, the
convenor of the outfit, said Mufti Abdul Quddus Rumi, has no right to
excommunicate muslims. "A Muslim remains a Muslim till his last
breath unless he himself declared against his faith in Islam," Shah
said in a statement on Thursday and advised all concerned to exercise
restrain on such issues.
university professor comments on hijab - 13 Mar 04
We have to distinguish between religious dressing and legal dressing,
Iran's university professor, Mohsen Kadivar said. The Islamic
researcher emphasized: "I still consider the observance of the Islamic
dress codes as necessary,even if the human rights groups oppose them."
Kadivar referred to such countries as Egypt, Indonesia and Turkey as
examples of Islamic countries where although wearing hijb is not
obligatory, they have experienced a good progress in the promotion of
Islamic dress codes both in quality and quantity." He added:
"Considering the issue of gender discrimination, it seems that we will
tarnish our religion, if we do not solve the problem of women's
[comment] Hostility to Jews Permeates New Iraq - 11 Mar 04
The widespread acceptance of outlandish fantasies about Jewish
infiltration and manipulation demonstrates the degree to which Iraqis,
whose views were shaped by years of authoritarian control,
misunderstand and fear the outside world. The anti-Semitic paranoia is
one measure of how difficult the transition to liberal democracy will
The widespread Iraqi hostility toward Jews stands in contrast to a
more ambivalent Muslim tradition. Although the Quran frequently
condemns Jews, it mandates a modus vivendi with them, relegating them
to an inferior but protected status. Historically, the Muslim attitude
toward Jews lacked the racial element of European anti-Semitism,
holding that if a Jew converted, he was to be treated like any other
Muslim. But the conflict over Palestine, the creation of Israel and
its defeat of Arabs and occupation of their land, intensified
anti-Jewish feeling. Arab and Muslim authors began to adopt European
racist and anti-Semitic theories about Jewish conspiracies to explain
Israel's existence, strength and American support.
Purportedly serious works about the Jewish threat, including Arabic
editions of the notorious czarist forgery, "The Protocols of the
Elders of Zion," are available in every book market.
Those seeking to give these theories religious legitimacy have little
trouble finding support in the Quran, a sprawling work with many
passages that are open to interpretation. [..]
Hardliners slam Iraq's interim constitution - 13 Mar 04
Around 2,000 supporters of a hardline Shia group gathered in Baghdad
on Friday to denounce the country's new interim constitution, in the
latest show of strength by Shias demanding greater influence. The
protesters were mostly supporters of the "Group of the Virtuous", a
Shia group calling for the direct implementation of Islamic law in
state affairs and for the establishment of a theocratic political
system similar to Iran's. "They want Iraq to split into many
countries, and they want us to be their subjects," they chanted. "We
will never accept a constitution written by the Jews." Sheik Mohammad
al-Yaaqubi, a self-proclaimed ayatollah who heads the group, said
Shias' rights were being ignored by Iraq's occupiers.
[Najaf] Revival of religious Shiite books in Iraq showcases -13 Mar 04
Now that the dictator is gone, Najaf's bookstores are busy again. For
the first time in decades they are selling over-the-counter Shiite
religious books that could have easily landed their owners and readers
in jail, where torture was common. The revival of the religious book
business in Najaf, an ancient center of Shiite learning, is a key
manifestation of how Iraq's Shiites are celebrating their religious
and cultural heritage after decades of oppression under Saddam, who
denied them legal access to the works of their saints and imams and,
at times, questioned their loyalty to Iraq and even their Arab
The Shiite cultural and religious revival since Saddam's ouster 11
months ago has been multifaceted, ranging from sales of religious
books, the production of plays recounting landmark historical events
associated with the faith, the holding of public processions and a
keen interest in pilgrimage to the holy cities of Najaf and Karbala.
But of all aspects of the Shiite cultural revival, that of religious
books is likely to have the most impact on a community in a hurry to
make up for years of intellectual deprivation, reacquaint itself with
the teachings of its faith and assert its separate identity in a
country that's ethnically and religiously diverse. The newfound
intellectual freedom in Najaf also points to the slow reemergence of
the city as a major center of learning, casting off years of decline
to compete again with its Iranian counterparts, Qom and Mashhad.
Under Saddam, religious Shiite books were smuggled in from Syria, Iran
or Lebanon. Photocopiers and offset machines concealed in basements
and underground rooms in Najaf's cemetery operated all night to make
cheaper copies. Security men often raided bookstores and, in some
cases, were so ignorant they arrested shop owners for possessing books
that were not even banned.
The revival and expansion of Shiite seminaries in the two cities also
have boosted demand for religious textbooks.
Now Government Backs Kadhi Courts [East African Standard - Nairobi]
http://allafrica.com/stories/200403120063.html - 12 Mar 04
The Government wants the contentious Kadhis courts entrenched in the
Constitution, Assistant Minister Robinson Githae told Bomas yesterday.
And it appeared yesterday that the courts will be 'entrenched' in the
final draft constitution from the National Constitutional Conference.
The Kadhis courts shall consist of the Chief Kadhi's and other kadhis
all of whom profess the Islamic faith. The court shall be a
subordinate court with jurisdiction to determine questions of Islamic
law relating to personal status, marriage and succession in
proceedings in which the parties profess the Islamic faith.
Kadhi's Courts Retained in the Draft Constitution [Nation - Nairobi]
http://allafrica.com/stories/200403120596.html - 12 Mar 04
The kadhis' courts were yesterday retained in the draft constitution.
Delegates voted overwhelmingly to establish the courts, subordinate to
the High Court. They also resolved that the Chief Kadhi will sit as
member of the Judicial Service Commission and that suspended judges
will go home on half pay. Delegate David Oginde's motion to have the
courts replaced with religious groups courts was shot down.
.. - 13 Mar 04
Abdulrahman Andati, Executive Director of the Muslim Consultative
Council in Kenya, says Kadhi's courts are necessary because national
laws differ from sharia in important respects when it comes to
marriage, divorce and inheritance. "For example, on inheritance upon
death, the Quran outlines clearly who can inherit from who and in what
proportions, and this cannot be altered whatsoever," says Andati.
"But (with) national law, this is dependent on how one writes his
will. Using this law, one can also disinherit his wife or children.
Islam does not allow this." Al-Hajj Yussuf Murigu, Vice Chair of the
Supreme Council of Kenya Muslims, says the existence of the courts
will bolster Muslims' status as a minority group in Kenya.
"Furthermore, Kadhi's courts have been in the constitution all this
time. I do not understand what the hue and cry is all about," he said.
According to Andati, there are varying statistics of the number of
Muslims in Kenya. "The church says Muslims are 11 percent, government
puts them at eight percent - while we (Muslims) say we are 30
percent," he told IPS. For the most part, Christians and Muslims have
co-existed peacefully in Kenya. The one notable instance of hostility
between the two groups took place in 2000, when clashes led to a
mosque and two churches in Nairobi being razed to the ground.
Supkem: Expect Fire Over Kadhi's Courts [East African Standard]
http://allafrica.com/stories/200403150597.html - 15 Mar 04
The Supreme Council of Kenya Muslims (Supkem) has warned of trouble if
the contentious issue of the Kadhi's court is subjected to a
Muslims want Saudi aid ban lifted - 14 Mar 04
Coast Muslims, concerned that development projects in the area could
stall, now want a ban on funding from the Middle East lifted.
Yesterday, the Supreme Council of Kenyan Muslims (Supkem) led other
organisations in petitioning President Kibaki to let two non-
governmental organisations from Saudi Arabia resume financial aid to
Islamic institutions in the country. The aid embargo, the Muslim
leaders said, had retarded the implementation of many development
projects, especially at the Coast. The other organisations included
the Kenya Assembly of Ulamas (Kauli), Wise Community of Kenya Muslims
(Wickem), South Coast Council of Imams (SCIPK) and the National Union
of Kenya Muslims (Nukem). Sheikh Juma Ngao, Supkem's Mombasa branch
chairman, said Madrassa and Muslim colleges that were being sponsored
by the organisations had stalled due to lack of funds.
Ngao reiterated that the Government was free to monitor the funds
which, he said, could be channelled through any State-controlled bank
to avoid suspicion. The leaders said the Terrorism Bill remained a
thorny issue, which President Kibaki "must scrap for the sake of
Muslims and Kenyans at large".
[comment] Trouble in Macedonia? By Stephen Schwartz - 12 Mar 04
However, in 2003 the VMRO-DPMNE lost its mandate, and while Trajkovski
remained in the presidency, real power came to be exercised by a much
less-reliable politician, Branko Crvenkovski of the post-Communist
Social Democratic Alliance. (New elections are expected this year).
Albanians, including in Macedonia, have few friends, and have lately
been the object of blandishments by the Wahhabi sect originating in
Saudi Arabia, which seeks to enlist them in a jihad against their
neighbors. Trajkovski was trusted by Albanians, which made him an
irreplaceable asset for a country prone to division. They will
remember that he supported university education in the Albanian
language, which most Slav Macedonian leaders firmly opposed, and that
once, when he visited the Macedonian-Albanian capital of Tetovo, in
Western Macedonia, he spoke to them in Albanian. At a time when the
Balkans seemed to have fallen off the map of world trouble spots, the
loss of a good man might unfortunately spell new disruption and even
[comment] PAS turns Islam into a strategic election tool - 17 Mar 04
Mahathir Blasts Western Rhetoric on Human Rights - 16 Mar 04
today the flow is only in one direction, from the West, from the rich
countries. All the information, the filthy information, is coming from
the rich countries to the poor countries. Unfortunately, of course,
even in Malaysia now they have learned to produce all these filthy
things. They download from the Internet. They buy the discs, they
duplicate the discs. So, the culture of the world is undergoing very
serious crisis. And I think, as Muslims, we would like to censor. We
would like to, at least, filter out the dirt and just let the good
information come through. Technologically, we still don't have the
capability. But, I believe that we can find some technology to filter
out this filth coming out from the rich countries.
A culture of women - 11 Mar 04
the UN and the Dutch Foreign Ministry decided to mark International
Women's Day (March 8 -- widely celebrated in Europe) with a two-day
conference [in Amsterdam] on reproductive rights and culture. The idea
was to see if the implicit tension between cultural diversity and
individual rights could ever be reconciled.
The conference brought together scores of exuberant women and men who
work every day breaking down the fear of women's rights and freedoms
in traditional societies. They included Penda Mbow, minister of
culture in Senegal, Sima Simar, the first minister of women's affairs
in post-Taliban Afghanistan, and Hauwa Ibrahim, the lawyer who
successfully defended the Nigerian women sentenced to death by stoning
under sharia law last year for having a child out of wedlock. Ibrahim,
herself raised in a Nigerian village without electricity or running
water, described visiting eight conservative clerics -- some of whom
had issued death threats against her -- in their mosque. She chose to
sit on the floor in humility even though they offered her a chair. By
the end of the meeting they had agreed on official neutrality: They
wouldn't denounce her publicly.
All these stories demonstrate that culture is dynamic -- that rules or
customs can change under the proper circumstances. As well they
should. When a woman dies in childbirth every minute -- 509,000
avoidable deaths a year -- the diplomatic question of whether human
rights encompass reproductive rights seems well beyond debate.
[Kano] Muslim Sect Declares War On Gov [P.M. News Lagos]
http://allafrica.com/stories/200403110550.html - 11 Mar 04
The Quadriyya Muslim sect in Kano has declared an all-out war against
the Kano State Governor, Malam Ibrahim Shekarau, accusing him of
marginalisation and hiding under the Sharia Islamic code to cause
division and hatred among the different sects in the state. Members of
the sect, which is one of the three largest in the state, have been
hurling insults at the governor during Juma'at prayers these days,
vowing to frustrate his efforts.
They accused the governor of being indifferent to the plight of the
people and said that the Sharia Implementation Commission had
practically assumed the role of a Juma'at Mosque Imam; as well as
imposing on itself (the Sharia Implementation Commission), the right
of special training. It would be recalled that the Kano Emirate
Council recently reacted to a decision by the governor to give the
choice of producing the Imam for the Juma'at Mosque, which is the
central and biggest mosque in the city, to the Sharia Implementation
Commission, instead of the Emirate Council. Investigation revealed
that the Quadriyya sect's action disturbed the governor who is said to
be pondering the most appropriate action to take.
IJT for registering blasphemy case against Zobaida - 16 Mar 04
President Islami Jamiat Talaba (IJT) [most powerful & popular student
union in] Karachi, Nazim Syed Tahir Akbar on Tuesday demanded
registration of blasphemy case against Federal Education Minister
Zubaida Jalal for removal of Quranic verses from the biology course
studies. He also demanded cancellation of citizenship of Zubaida for
issuing statements contrary to two-nation theory. Syed Tahir Akbar
alleged that the government was working on US agenda to make Pakistan
a secular state against the two-nation theory, they very basis of
NCSW concerned over reports on Hudood Ordinance - 13 Mar 04
The Pakistan National Commission on the Status of Women (NCSW) has
noted with deep concern the recently published reports that the Prime
Minister has held out assurances to the MMA that the Hudood Ordinance
will neither be repealed nor amended.
[NWFP] JAH urges govt to intervene in mosque fight - 13 Mar 04
The Jamaat Ahl-e-Hadith (JAH) on Friday called on the federal
government to intervene in the Batagram mosque issue and help in its
reconstruction. The JAH also threatened to besiege the provincial
assembly if the NWFP government did not resolve the mosque dispute.
The warning came at a public meeting of the JAH held at Fawara Chowk
to protest the demolition of the mosque in Batagram. The speakers
asked the federal government to intervene as the provincial government
was ignoring the mosque issue.
They alleged that the government was giving contracts to its
favourites. They alleged that the people who martyred the mosque in
Batagram were released on March 11 while the entry of clerics
belonging to the JAH in Batagram was banned for 60 days. This is a
mockery of justice, they added.
Batagram mosque destroyers to be brought to justice - 29 Jan 04
Saudi 'liberal reformers' arrested - 16 Mar 04
Four "liberal reformists" have been arrested in Riyadh and Jeddah for
making statements that do "not serve the unity of the country," the
kingdom's Interior Ministry has said.
All are known for calling for major changes in the kingdom and for
their support of a constitutional monarchy. "A number of people have
been arrested for questioning regarding accusations and allegations
that they had issued statements that do not serve the unity of the
country and the community, which is based on Islamic sharia," the
statement from the Interior Ministry said.
Saudi TV show talks about impact of fatwas on Muslim minds - 11 Mar 04
The impact of religious rulings (Arabic: fatwa) on the minds of
Muslims is the topic of Saudi TV's Ma'a al-Ahdath (Following events)
on 10 March. The guests on the programme are Sa'd Bin-Turki, an
Islamic theology professor, and Hani Bin-Abdallah al-Jubayr, a judge
in the Jedda-based High Court. [..]
[comment] Where Are the Saudi Rich? by Amr Mohammed Al-Faisal
.. - 14 Mar 04
Some time ago I read in several newspapers local and foreign that the
money wealthy Saudis have invested abroad is estimated to be in the
region of $ 600 billion. This works out to about SR 2,250 billion. The
zakah on this enormous sum is about SR 56 billion [EUR 34 billion] per
year. Where is all this money? Why is not some of it being spent in
this country? Think, dear readers, how much good even part of this
money could do if it were spent by its owners on alleviating some of
our country's problems.
Teacher Given Jail Term, Lashes for Blasphemy - 13 Mar 04
A court in Riyadh sentenced a Saudi teacher accused of denouncing
religion to three years in jail and 300 lashes. The man was banned
from teaching and writing in newspapers. The court dropped an apostasy
charge but found him guilty on other charges of blasphemy. The court
took statements from three witnesses under the age of 15 in addition
to other teachers at the same school. According to students, the
teacher "allowed" what was religiously forbidden such as homosexuality
and adultery. He also referred to the Syrian poet Nizar Qabani as
"Nizar (peace be upon him)."
According to Asharq Al-Awsat, the teacher said, "I was not surprised
at the decision. I have expected it since the court put me in prison
before I even went on trial."
At least 5 die in Syria soccer stampede - 12 Mar 04
At least five people were killed and more than 100 injured when
spectators stampeded during a riot in a soccer stadium in northern
Syria on Friday, hospital officials and witnesses said [Qameshli, 450
miles northeast of Damascus].
An official at the state National Hospital said the hospital received
one dead spectator and had treated and discharged more than 100
others. Two people were being operated on, the official said on
condition of anonymity. One witness, Ibrahim Hussein, said the
clashes began when Al-Fatwa supporters began stoning Al-Jihad players
and fans in the grandstand before the game. "When Al-Jihad fans tried
to flee the grandstands, the spectators stampeded," Hussein said.
"Some were hit by stones, fell to the ground and were crushed
underfoot." A second clash occurred when people outside the stadium,
apparently Al-Jihad fans, heard what was happening inside, Hussein
said. They surrounded a group of Al-Fatwa supporters and began
Syria soccer victim funeral erupts in riot - 13 Mar 04
Hundreds of mourners rioted Saturday at a funeral for people killed in
a soccer stadium stampede in northeastern Syria, and police fired
shots in the air to disperse the crowd, witnesses said. .. Mourners
shouted anti-government slogans and attacked shops and government
buildings, setting fire to a Department of Customs office, said lawyer
Ibrahim al-Hussein. .. Spontaneous demonstrations are extremely rare
in Syria, where the Baath party has ruled with tight political control
for more than 30 years. That Saturday's riot was led by Kurds makes
it particularly sensitive because the government is concerned that the
Kurdish minority could take its cue from Iraq's Kurds and seek more
Calm Restored After Syria Soccer Riots - 14 Mar 04
Abdel Baki Youssef, another local Kurdish leader in Qamishli, said 15
people were confirmed dead and that Qamishli was calm on Sunday, but
he said there may be "more martyrs'' because he understood burning and
looting was continuing in the Kurdish city of Hasakah and elsewhere.
His report of continuing rioting could not immediately be confirmed.
[California] Muslim Film Festival Opens Window on Muslim World
American Jihad Continues by Robert Spencer [Jihadwatch]- 12 Mar 04
Recent Laws are Wrong Way to Integrate European Muslims
http://usa.mediamonitors.net/content/view/full/5486/ - 11 Mar 04
UN: Islamic States Protest Annan Edict On Same-Sex Unions
Muslim states at the United Nations have raised concern about a new
administrative order extending family benefits to UN employees with
homosexual partners. The directive is limited to those whose
partnerships are legally recognized in their home countries, but it
still provoked an outcry from some states that Secretary-General Kofi
Annan is redefining the concept of family. The new policy is being
defended by Canada and European Union states.
Annan's directive, which took effect last month, said that family
status would be granted to UN staff under the principle that "matters
of personal status are determined by reference to the nationality of
the staff member concerned." Envoy Sigit Wardono of Indonesia, the
world's most populous Muslim nation, expressed concern that a new
concept of "family" had been created without proper deliberation in UN
World Bank studies women's role in economy - 12 Mar 04
Many developing countries may be missing out on huge contributions to
their economies by discouraging women from participating in business.
[World Bank Group] "Doing Business 2005" will compare business
practices in 130 countries. Seven areas will be compared: starting a
business, hiring and firing, accessing finance, enforcing a contract,
closing a business, property rights, government licensing and
regulation, and corporate governance.
Back in New Zealand last week to promote her book Women2Women, [Kate
Perry of NZPA] said that many countries may not be making the link
between having women as active participants in the economy and job
creation and economic growth.
"Doing Business looks at government regulation and legislation, but
there is also the aspect of cultural practice and how policies are
actually enacted and enforced, which is really crucial," Ms Ellis
says. She cited Kenya as an example where women's rights look good on
paper, but, in reality, are not so impressive. According to both
statutory law and the constitution, Kenyan women have legal equality
with men. But the country's custom law can override statutory law, and
according to custom women have only user rights to property and may
not own it.
Other cultural issues in developing countries, such as the tolerance
of polygamy in some African and Muslim communities, also has wide
ranging economic impact on women particularly in regards to property
rights. Property rights far from the only gender problem women in
developing countries face. Under Sharia law, women may own property,
but still face restrictions on travel, which severely restricts
business opportunities. Ms Ellis says one of the ingredients of women
overcoming problems and succeeding in business is networking and
[Nigeria] SEC to open transactions on Islamic stocks this year
http://www.guardiannewsngr.com/business/article02 - 16 Mar 04
Opportunities for Nigerian investors in the global stock market
operations may soon widen, given plans by Security and Exchange
Commission (SEC) to introduce transactions on Islamic capital market
instruments this year.
Amplifying further, [SEC chairman] Ndanusa said: "A pointer to the
global acceptability of this mode of financing is the fact that both
Dow Jones and London FTSE have Islamic stock index. HSBC, Citibank,
Deutsche Bank, ABN-AMBRO and BNP Pariba are major participants in
Islamic finance. "It is therefore our conviction that with the
sizeable Moslem population in this country, mostly outside the
nation's formal financial system and the benefits derivable from the
global scene, Nigeria should put itself in a stead to reap the
benefits of this growing concept in Islamic finance." On the
committees on capital market in the House of Representatives and the
Senate, Ndanusa said: "The commission welcomes this development which
we believe will provide support needed in reviewing the laws of the
market as circumstances will dictate.
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