Faith-based mutual funds; islam on top

In the wake of what many are calling an economic crisis, the latest issue of Newsweek is singing the praises of islamic mutual funds. An article titled “Islam Bullish in Bear Market”, touches on faith-based mutual funds as a way to beat this down market. However, as the title illustrates, the focus is on islamic funds. Citing Morningstar fund data tracker, islamic funds have grown from 500 million to 17 billion dollars over the last decade. Professing islamic funds the “winner” among the faith-based mutual funds.

Enter the unindicted terror coconspirator, CAIR was “Johnny-on-the-spot” with a late day whine-o-gram promoting this proof-positive data to the superior nature of islam.

The righteous nature of the “riba” sets these sharia compliant funds apart from other mutual funds in the faith based category. By giving or donating 2.5 to 3% of the returns made on these funds a muslim can enjoy the benefits of long term investing, without going to hell. These sharia compliant funds, like CAIR, offer little transparency to an ignorant public. Often time’s radical scholars who advise or manage these funds rely on an uninformed public to transfer money to nefarious charity groups.

Sheik Muhammad Taqi Usmani, DJIM advisor and NAIT board member, for a decade was one such elbow in the terror funnel. Besides his fiery rhetoric, his book “Islam and Modernism” encouraging jihad and subjugation of non-believers, was translated into English in 2006 and came to the attention to Dow Jones. Quietly and swiftly, Dow Jones accepted the imam's resignation and removed all ties to his "imam fund" and NAIT.

These islamic funds need to be highly scrutinized if not outlawed in America.