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Global Rebalancing: Money, Power, and Islamic Banking

'WorldWatch' by David C. Grabbe

Dubai has emerged as a significant banking hub, drawing immense wealth from nations such as Saudi Arabia, Kuwait, Egypt, Syria, Iran, Russia, and Jordan, fueled by record-high oil prices. It is viewed as a safe haven, free from the risk of accounts being frozen or funds seized by the U.S. in anti-terrorism measures. Sheikh Mohammed bin Rashid al Maktoum envisions Dubai as the financial center for the Middle East, India, and Pakistan. Meanwhile, Islamic banking, also known as Sharia banking, operates in alignment with Islamic law, mandating a donation of 2.5% of revenue to Islamic charity, prohibiting interest on borrowing and lending while allowing payments for the time value of money as a gift, and requiring socially responsible investing. Banks offering these services must establish a Sharia advisory council to ensure compliance with Islamic principles. The size of the Sharia banking sector is uncertain, with estimates ranging from $500 billion to $1.5 trillion. Western financial institutions like Morgan Stanley, Goldman Sachs, Ernst & Young, and McKinsey and Co. are keen to engage with this growing market. In Britain, efforts are underway to position London as the global center for Islamic finance, with more banks offering services under Islamic principles than any other Western financial center, and the government planning to issue Sharia-compliant bonds in 2008.

Cleansing the Temple and Economics

CGG Weekly by Charles Whitaker

Violently, Christ responded to the corrupt, moneymaking establishment, overturning tables, driving away people and animals. But why did He do so twice?

Everything Is A Lie

Commentary by John W. Ritenbaugh (1932-2023)

We must be careful about processing information we receive because much pernicious fraud exists on the Web, as well as the rest of the media.

Unity and Chaos

Commentary by John W. Ritenbaugh (1932-2023)

What the planners have in mind for the world is entirely evil, but God will end this fiasco, bringing atonement and unity to the world.

The Present and Future Crisis (Part Two)

Sermon by John W. Ritenbaugh

The United States' enormous debt, coupled with its escalating trade deficit, is inevitably leading to what economist call economic Armageddon.

Are We Already In Captivity?

Sermon by John W. Ritenbaugh (1932-2023)

Major curses, including economic oppression, famine, pestilence, mental illness, alien invasion, the scattering of modern Israel are yet to occur.

The Handwriting Is On the Wall (2011)

Feast of Tabernacles Sermon by John W. Ritenbaugh (1932-2023)

While love grows cold because lawlessness abounds, the church may well have to go underground in order to survive. We must prepare for horrific times.

What's So Bad About Babylon? (2013) (Part Two)

Sermon by John W. Ritenbaugh (1932-2023)

Babylon's way is the culture of the Western world, having the same religious, economic, and political systems, enslaving people to the state.

God's Rest (Part 4)

Sermon by John W. Ritenbaugh

Coveting—lust—is a fountainhead of many other sins. Desiring things is not wrong, but desiring someone else's things promotes overtly sinful behavior.

Whoever Loves and Practices a Lie

Sermon by Charles Whitaker

In Revelation 21:8, Christ lists three spiritual conditions and four behaviors, all of which He links to deceit and which will lead to the Lake of Fire.

God Never Disappoints

Sermon by Martin G. Collins

Unlike people who, because of their natural carnal nature, feel disappointment with God, God's people should never experience any disappointment with Him.

The New World Order Rises

Feast of Tabernacles Sermon by John W. Ritenbaugh (1932-2023)

The Beast is a reality, and it is coming to pass in the scope of globalism. Satan has a vast reservoir of people he can work through; we used to be a part of it.

Acts (Part Twenty)

Sermon/Bible Study by John W. Ritenbaugh

Paul's success at promoting the Way started to undermine the prosperity of vendors promoting the worship of Diana, leading to a riotous assembly in her temple.