Jewish banking became more rooted as a GLOBAL BANKING empire because in 1000BC the EMPIRE OF ISRAEL was conquered and Jewish 99% of citizens sent to become wanderers. A global system of reaching these JEWISH citizens created a very efficient and hard fast structure.
BUT, this same structure when combined with JEWISH TORAH saying USURY can be used against NON-JEWS is what caused JEWISH BANKING to have that predatory reputation. Meanwhile, ARABIC and ROMAN/GREEK banking gone CHRISTIAN/MUSLIM rejected this notion of USURY until of course SACKING AND LOOTING by global banking colonized empires.
'Numerology deals with the science of numbers interpretations founded on esoteric number symbology. There are various schools of numerology: Chaldean number system, Pythagoras and Hebrew kabbalah numerology.
Each of these systems calculates numbers differently and gives different interpretation of life'.
'The Pythagorians (just as the Kabbalists) were secretive and strict, even to the point of not allowing the neophytes speak at all for five years after they accepted them as pupils. The new disciples were called akousmatikoi (the listeners) and they were only allowed to listen to what was being put to them by their teacher and could not react to any of this verbally. Only after the initial period of their apprenticeship was over would their teachers allow them to ask questions'.
MUSLIM KORAN went further by not allowing MUSLIM BANKING to even DEAL with anyone who was not MUSLIM.
We want to show how these several decades of building FOREIGN ECONOMIC ZONES globally affected ISLAMIC BANKING. We see in the 1970s as NIXON OPENED CHINA to FOREIGN ECONOMIC ZONES ISLAM BANKING started mergers and acquisitions with MALAYSIA being the earliest as part of ASIAN FOREIGN ECONOMIC ZONES to 'modernize' ISLAMIC BANKING.
'Pakistani Growth In Pakistan, a new attempt to create an Islamic banking system took place in 1979, gradually eliminating interest from all banking operations by 1985'.
'Malaysia has since played a fundamental role in the modernization of Islamic banking practices and their incorporation into the mainstream global banking system. In this country, an Islamic financial institution already existed before the establishment of the first Islamic bank. The Muslim Pilgrims Savings Corporation, founded in 1963, helped pilgrims in Malaysia perform Hajj. This corporation was later renamed Tabung Hajj and helped pilgrims invest their Hajj savings into businesses in a way that adhered to Shariah. Tabung Hajj was so successful that it eventually led to the Bank Islam Malaysia'.
Until these few decades of CLINTON/BUSH/OBAMA and continuous wars against MUSLIM nations in Middle and FAR-EAST MUSLIM BANKING did indeed fight to remain within the tenets of KORANIC laws. It was the colonization via continuous wars and installation of FOREIGN ECONOMIC ZONES that moved to 'modernize' ISLAMIC BANKING away from KORANIC LAW.
So, MALAYSIA brought ISLAM into WORLD BANK via FOREIGN ECONOMIC ZONES ----then so too JORDAN----KUWAIT-----et al.
Don't forget GAMBLING is against all CANON LAW-----MUSLIM/CHRISTIAN/JEWISH----and we all know GLOBAL WALL STREET was a GAMBLING CASINO----if we owned STOCKS we SINNED and not seen protected by CANON JUSTICE.
'The Islamic banking system is unique in that it is entirely interest free, which has been around nearly since money itself. This interest free system, which avoids Riba, gambling, uncertainty, and ambiguity, could be the key to avoid the recurring burst bubbles, crashes, and schemes that have a characteristic of the conventional global banking system in the last decades'.
Sadly, today's MODERNIZATION OF ISLAMIC BANKING has created FAKE SOCIAL BENEFIT just as CHRISTIAN AND JEWISH-----it is all tied to UNITED NATIONS/WORLD BANK GLOBAL CORPORATE SUSTAINABILITY/WORLD BANK.
So, incrementally ISLAMIC BANKING started PRETENDING changes to these USURY laws were being done to suit social benefit just as with our CHRISTIAN BANKING and it was all done for ONE WORLD ONE CENTRAL BANKING.
A History of Islamic Finance
- A History of Islamic Finance
A History of Islamic Finance
today 8th February 2015
A History of Islamic Finance
Despite being seen as a modern phenomenon, Islamic finance is as old as the religion itself with its principles primarily derived from the Quran, which was revealed some 1400 years ago. Some principles of Islamic finance stem from prior Abrahamic traditions, whilst some historical Islamic finance instruments have been adopted into modern conventional products such as letters of credit and cheques.
The Quran and Islamic Economics
Islamic finance products are based on permitted economic and commerce activity as outlined in the Quran within which is revealed permissible sources of income, the prohibiting of other types of income including riba (interest), moral directives in conducting business, unethical trade practises, charity, consumption, wealth accumulation, social responsibility as well as communal development. Islamic finance is simply the products developed based on these requirements.
The Golden Age of Islamic Civilisation
The early Muslims engaged in transactions based on Sharia, and Islamic Economic principles are documented as being practised during the Golden Age of Islamic Civilisation which occurred during the Middle Ages from the mid-7th century to the mid-13th century.
During this era inhabitants established trade routes which stretched from Gibraltar (Jabal Tariq in Arabic) to the Sea of China  along which flowed trade based on the principles of Islamic commerce.
Financial innovations in the Islamic world
Shaikh M Ghazanfar in his article Capitalist Traditions in Early Arab-Islamic Civilization states financial innovations during this period led to the development of precursors of today’s financial products which were developed by a need to safeguard the integrity of money transactions. He describes “One such device was the bill of exchange or letter of credit (suftajeh), which became well established in state and private commerce.”
A sakk (the singular to the plural Sukuk) was used as an international cross border cheque, and Ghazanfar further states “One can find precursors of the modern stock-exchange/money market in Islam: there was not only the wholesale/retail commercial exchanges in the funduqs, but also activities typical of the modern commodity exchange”.
It should not be surprising that early developments of financial products in the Islamic world have greatly contributed to modern conventional finance products, as it is consistent with other fields such as science and agriculture, where knowledge was also disseminated and bought back into Europe through trade as well as by the Crusaders.
Trieste Borsa, Stock Exchange in Italy. The Islamic contract Mudarabah was used by Italian merchants who called it “Commenda” a forerunner to todays Limited Company.
Islamic Coinage in Europe
Post-Roman Europe was demonetized and used the trade of furs and lumber with the Islamic Caliphate to get desperately needed hard currency in the form of Islamic coinage. Finds of Islamic coins have been discovered in Europe and illustrate the monetary might of the Muslims. Muslim coinage spread rapidly and dominated the economies of Europe and the Middle East, as well as India. Herman Van Der Wee, an eminent Belgian economic historian, states that the re-monetization of Europe post the Roman Empire and the rebirth of the European banking system owe much to the flow of Muslim coinage to Europe [i].
During the Ottoman Empire (1301-1922) global trade grew, but the development of Islamic finance products was limited  though it is believed the first Sukuk was issued in 1775 by the Ottoman Empire when it borrowed money against future income on tobacco customs levies  to fund its budget deficit. 
Barclays Bank Opens Cairo Branch in 1890s for Suez Canal
Barclays Bank opened its Cairo branch during the 1890s to process the financial transactions related to the construction of the Suez Canal. Islamic scholars challenged the operations of the bank, considering its dealings to involve interest. This critique spread to other Arab regions, and to the Indian sub-continent. Majority of Shari’ah scholars declared that interest in all its forms amounts to the prohibited element of riba.
Emergence in India during the 1930s
Modern Islamic economics emerged amongst Indian Muslims in the 1930’s as the country’s Muslim minority feared an independent and Hindu-dominated India would subject them to hostility and discrimination. These worries were based on the build-up of debt by Muslim farmers, mostly to Hindu moneylenders who were prepared to expropriate the lands of defaulters.
Later after a movement to ban usury in Pakistan gained prominence in the 1950s, a push to include a ban on usury in the 1956 constitution did not succeed. As a result a segment of the Muslim population in Pakistan decided to support a Pakistani bank that would lend money without charging interest. This bank did not succeed and soon had to close its doors having run out of deposits and with problems acquiring trained staff.
However, this idea was soon followed by another Islamic bank in Egypt, founded in 1963 by Ahmed El-Nagar. This bank was a success, and eventually led to the founding of the Nasser Social Bank, although it still faced the same problems as the initial bank in Pakistan.
These banks were merged thanks to a grant of $2 million USD from the government of Egypt. The new bank was strict in its adherence to Shariah. All loans were interest free. Loans were given out with a preference for social welfare and projects. Housing for example, had a priority over capital gains or speculation. There were also strict restrictions preventing depositors from re-depositing credit from this bank into conventional banks in search of interest gains. Through various profit sharing ventures and support from its head office in Cairo, this bank was able to participate fully in important community projects.
Critical Mass in Post Colonial Era Indonesia gained independence in 1945 and Algeria in 1963. In between these two dates, all Muslim majority countries became independent at which point, Islamic finance can be seen as developments in the Gulf, Pakistan and Malaysia and by the late 1970s, the first forays into cross border Islamic Banking.
The following and subsequent videos are extracts from a lecture given by Iqbal Khan at the London School of Economics. Iqbal is a notable and highly distinguished pioneer and modern day practitioner of Islamic finance.
Middle East Growth
The Egyptian Nasser Social Bank was seen as a success by other Muslim countries, which looked to emulate its banking model. Saudi Arabia, in particular, supported the founding of other Islamic banks in Gulf states. Dubai was one of the first countries that responded to this Islamic finance movement and, in 1975, the Dubai Islamic Bank was established. This bank was a modern Islamic bank that was privately owned and operated. It consulted with a committee of religious advisors for all matters of policy.
Next, the Kuwait Finance House was established in 1977 which, unlike the Dubai Islamic Bank, was majorly owned by government ministries. Two additional banks were founded in 1977, the Faisal Islamic Banks of Sudan and the Faisal Islamic Bank of Egypt, named after Prince Mohammad bin Faisal of Saudi Arabia who played an important role in their founding.
During the 1980s, Iran and Sudan initiated reforms in their respective countries resulting in the removal of all forms of interest from their national banking systems. Based on this Iran is widely regarded as the worlds biggest Islamic finance market with assets of $300 billion as of 2012.
South East Asian and Malaysian Growth
The initial failure of the Pakistani bank inspired Asian countries to attempt the establishment of an Islamic bank in a way that would be successful. In 1973, the Philippine government established the Philippine Amanah Bank which offers Islamic banking services alongside conventional banking.
Although Southeast Asia has been the birthplace of many practices, products, and services of the modern Islamic banking system, it did not play an important part in the development of Islamic banking practices until the establishment of the Islamic bank in Malaysia, which was founded in 1983.
Malaysia has since played a fundamental role in the modernization of Islamic banking practices and their incorporation into the mainstream global banking system. In this country, an Islamic financial institution already existed before the establishment of the first Islamic bank. The Muslim Pilgrims Savings Corporation, founded in 1963, helped pilgrims in Malaysia perform Hajj. This corporation was later renamed Tabung Hajj and helped pilgrims invest their Hajj savings into businesses in a way that adhered to Shariah. Tabung Hajj was so successful that it eventually led to the Bank Islam Malaysia.
In fact, Tabung Hajj was responsible for 12.5% of this bank’s initial capital. Islamic banks in Malaysia currently operate conventional and Islamic banking systems side to side, reflecting the global intentions of these banks. While Bahrain was initially at the forefront of Islamic banking on the global market, Bank Islam Malaysia quickly overtook them and currently is years ahead of Bahrain in regrards to innovation.
Bank Islam, Malaysia is a pioneer of modern Islamic Banking
The first modern Sukuk was issued in Malaysia by Shell MDS in 1990, after which Malaysia has led the way in developing the Sukuk financial instrument – an interbank money market for Sukuk that was certified in 2003. With a deliberate intervention by the Malaysian government to stay at the forefront of innovation in the global Islamic market, banks in this country have a distinct advantage. It is not inaccurate to observe that Islamic banks have been largely responsible for much of Malaysia’s modernization and economic development in the last twenty years.
In Pakistan, a new attempt to create an Islamic banking system took place in 1979, gradually eliminating interest from all banking operations by 1985. It is important to note that this forced conversion to Islamic banking is characteristic of banks in Pakistan and financial institutions in countries like Sudan and Iran, which is very different from more successful financial institutions like those in Malaysia. Although Pakistan was a pioneer in Islamic banking, the idea of Profit and Loss Sharing, which is fundamental to modern Islamic banking was not carried out, with most of the banks’ transactions being carried out in other ways.
Cross Border Islamic Finance Market
Islamic Development BankThe Islamic Development Bank started operations in 1975, headquartered in Jeddah Saudi Arabia. Clause one of its charter states that it is “to foster economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of shariah.” In compliance, the IDB does not deal with interest. By the year 2000 the Islamic Development Bank had financed inter-Islamic trade to the tune of over 8 billion US dollars  and in 2014 was the single largest issuer of sukuk. It is the only body or country from Islamic lands, which is rated AAA.
Bahrain Islamic BankIn 1979, the Bahrain Islamic Bank was established, with a major investment by Prince Mohammad bin Faisal. This bank was notable in that it collaborated heavily with other Islamic Banks in the region for investments and deposits, allowing the circulation of capital throughout Muslim countries. Although not participating in foreign exchanges, this bank also became part of Bahraini financial markets. Today, Bahrain is the leader in offshore Islamic banking due to having the highest number of offshore Islamic financial institutions.
International Islamic Financial Market (IIFM)
An important agreement was signed in 2001 between institutions in Bahrain, Indonesia, Sudan, Saudi Arabia, and Malaysia to create the International Islamic Financial Market (IIFM). The main goal of the IIFM is to support the creation of an international secondary market for trading of sukuk and other Islamic financial instruments. Since there are different interpretations of Shariah governing the different governments’ sukuk issuances, the IIFM serves the important role of conciling and harmonizing these financial instruments through its Shariah Supervisory Committee. This committee is composed of Islamic scholars from the different regions and Shariah schools from the member countries of the IIFM.
International Islamic Financial Market
Thanks to the IIFM, sukuk quickly gained acceptance across national borders, a fundamental step in their popularization and establishment as legitimate, profitable financial instruments that would prove attractive to global investors. The IIFM also helped bolster cooperation among Muslim countries, strengthening economic ties and harmonizing different views of Shariah. One of the IIFM’s current top challenges is to address the increasing need for faster liquidity management that is a characteristic of modern markets and seen as the biggest weakness of Islamic financial instruments today.
Other organisations, which have been critical, are the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) a standard’s body based in Bahrain, and the International Islamic Liquidity Management (IILM) an issuer of short-term sukuk to assist with the liquidity of Islamic finance providers based in Kuala Lumpur.
A Natural Modern Era Evolution
There is clearly a natural evolution that has taken place in Islamic banking since the initial failure of the first Islamic bank in Pakistan. Throughout the 1970s, commercial banking operations using Islamic financing were the most common type of Islamic banking operation. In 1980, Islamic banks moved into syndication and project finance. The 1990s brought about the idea of equity and Ijarah (leasing,) which greatly diversified the potential avenues for Islamic banking. The 2000s were the most important decade in global Islamic banking. This is thanks to the emergence of sukuk and other structured Islamic financial assets which surfaced, along with the proliferation of a robust capital market. Since 2005, Islamic banking has innovated increasingly more sophisticated Islamic financial instruments capable of greater flexibility and agility in liquidity management.
Islamic financial services have quickly expanded outside of the GCC states and Malaysia and 2014 was a pivotal year, as it marked the issuance of sukuk by the United Kingdom, the first Sovereign sukuk issued by a non OIC country. The UK was very quickly followed by Luxembourg and South Africa.
The listing on the London Stock Exchange of the United Kingdom’s Sovereign Sukuk, the first issued by a non OIC member.
Perhaps there are other reasons why Islamic banking has proved so attractive to investors around the world. By operating in a way to does not conflict with Shariah, Islamic banking has carefully established the foundations for a promising new financial system. The Islamic banking system is unique in that it is entirely interest free, which has been around nearly since money itself. This interest free system, which avoids Riba, gambling, uncertainty, and ambiguity, could be the key to avoid the recurring burst bubbles, crashes, and schemes that have a characteristic of the conventional global banking system in the last decades. Islamic banking flies in the face of consumerism, of the idea that you can pay tomorrow for what you consume today.
Conventional banking enslaves poor countries by crushing them under debt to rich countries. In the Muslim world, Interest does not exist, with financial transactions being based on real world value and development rather than in easily manipulated factors. It is essentially a banking system with a conscience, one of the most decried flaws of conventional banking by regular consumers.
NIGERIA HAS THE MOST CRIMINAL AND CORRUPT BANKING SYSTEM IN THE WORLD. NO MORAL COMPASS IN NIGERIA.
President Obasanjo of Nigeria, Statement as G8 Summit
The Islamic banking movement has been revolutionary in that it has quietly demonstrated that the established practices of conventional banking are not unmovable, that banking can have a moral compass.
Those MODERNIZED ISLAMIC BANKING structures whether in MALAYSIA/KUWAIT/JORDAN/SUDAN/NIGERIA------are LYING when they sell to the 99% of WE THE ISLAMIC citizens whether in their own nations but especially here in global banking 1% WALL STREET that these ISLAMIC BANKS are staying within SHARIA LAW.
Even cavemen in NEW GUINEA know today's global banking is CASINO GAMBLING----forbidden by any religion especially CHRISTIAN AND ISLAM tied to CANON LAW BANKING.
'Casino Gambling on Wall Street
Casino Gambling on Wall Street Case 4.5
Casino Gambling on Wall Street CDO stands for “ collateralized debt obligation,” and before the financial meltdown of 2008, hardly any nonspecialists were familiar with this arcane acronym. A CDO is a collection of individual debts ( for example, home mortgages) that are bundled together in one investment'
'Khalfan Abdallah Salim
Dar es Salaam, Tanzania
Professionally, I am Islamic Banker having practised Islamic banking since 2008. I hold MBA (Islamic Banking and Finance) from Academy of International Modern Studies (AIMS) UK, Post Graduate Diploma In Islamic Banking and Insurance (Takaful) from IIBI (UK) as well as Certified Islamic Finance Executive (CIFE) from Ethica Institute of Islamic Finance in Dubai. My first degree was on Business Studies specialising in Banking and Finance from Islamic University in Uganda. I founded and worked with Amana Bank Limited as Head of Product Development and Sharia Compliance. Currently, i work with Gulf African Bank based in Nairobi, Kenya as Manager (Head) Sharia Department'.
'The Church With the $6 Billion Portfolio
- The New York Timeswww.nytimes.com/2019/02/08/nyregion/trinity...
The current Trinity is the third church to be built at Broadway and Wall Street. Designed in a Gothic Revival style by Richard Upjohn and completed in 1846, the brownstone building was the tallest ...'
'Pastor Jack Schaap’s Indiana Megachurch is Being Sued for ...friendlyatheist.patheos.com/2016/05/08/pastor...
He would provide parishioners with “financial, investment, budgeting and debt counseling.” Pastor Schaap informed parishioners from the pulpit that Mr. Kimmel’s financial services would provide them with more money which would, in turn, allow them to give more money to Defendant First Baptist Church and aid its ministry and mission'.
Wednesday, July 16, 2014
Psychopaths on Wall Street.
By:Ronald Schouten, MD, JD |
Psychopaths are the subject of endless fascination. We tend to apply that term loosely to people who engage in bad acts, ranging from pathological lying and repeated deception to major fraud and serial killing. Psychopaths rival pedophiles in the panoply of those we despise and fear. Given this fascination with psychopathy, and the public's current negative view of Wall Street (see Greg Smith's op-ed column in The New York Times about his resignation from Goldman Sachs), it is no surprise that Twitter, the blogosphere, and traditional media have been buzzing about "The Financial Psychopath Next Door," an article in CFA Magazine by Sherree DeCovny (subscription required).
The headline-grabbing factoid in the article was an estimate that 10% of people in the financial services industry are psychopaths. And that's a conservative estimate, according to Christopher Bayer, a Wall Street psychotherapist cited by DeCovny.
DeCovny describes "financial psychopaths" as individuals who seek thrills, lack empathy, don't care about what others think, are charming and intelligent, and are skilled at lying and manipulation. Citing Richard Peterson, managing partner of MarketPsych (a firm that provides psychological and behavioral finance training for the industry), DeCovny notes that these are some of the traits that also predict success on Wall Street.
To understand the implications of all this, it helps to define psychopathy. It is a psychological condition based on well-established diagnostic criteria. These include glibness and superficial charm, conning and manipulative behavior, lack of remorse and empathy, refusal to take responsibility for one's behavior, and others.
Determining whether a person is a psychopath is generally done using a test like the Psychopathy Checklist-Revised (PCL-R), developed by Robert Hare and his colleagues. People who are "normal" invariably score a few points on such scales. True psychopaths score in the top 25%.
Using formal diagnostic criteria, researchers have estimated that about 1% of Americans — about 3 million people — are psychopaths. Based on statistics alone, there are some true psychopaths on Wall Street, as there are in all walks of life. The odds increase further when we consider the competitive advantage that some of the characteristics of psychopathy, including willingness to take risks, can provide in the field.
Psychopathy is mistakenly regarded as an all or nothing affair: you either are a psychopath or you aren't. If that were the case, saying that 10% of people on Wall Street are psychopaths could actually be somewhat comforting, since it implies that the remaining 90% are not and so shouldn't cause us any concern.
That yes-or-no approach dangerously ignores the fact that psychopathic behavior exists on a continuum. A great deal of damage can be done by individuals who fall in between folks who are "normal" and true psychopaths. These are individuals who would never be diagnosed as a psychopath, but whose behavior to varying degrees can be just as deceptive, dangerous, and remorseless as that of a full-blown psychopath. These individuals are sub-clinical psychopaths, what my colleague James Silver and I refer to as "almost psychopaths" in our upcoming book, Almost a Psychopath.
Two things should be noted about the claimed estimate that 10% of people in the financial services industry are psychopaths. First, it is just that — an estimate — and not based on a scientific study. Second, it is likely an overestimate of true psychopaths in the industry, but an underestimate of those who fall into the "almost" category. Formal studies indicate that as much as 15% of the general population can be characterized as almost psychopaths. And if we consider that the financial services industry may select for people with characteristics of psychopathy, it is fair to say that the number of people in the industry who fall into the "almost" range is at least that high. As such, individuals predisposed to fraud, deceit, manipulation, and insider trading may be far more numerous than the 10% estimate that has attracted so much attention.
But there is good news. First of all, it is possible to screen out almost and full-blown psychopaths during the hiring process and after. Some of the key indicators are:
•Glibness and superficial charm
•Lack of empathy
•Consistent decisions in their self interest, even where it is ethically questionable
•Chronic, sometimes transparent lies, even with regard to minor things
•Lack of remorse
•Failure to take responsibility for their actions, and instead blaming others
•Persistent focus on gratifying their own needs at the expense of others
•Conning and manipulative behavior
The only way to deal with a true psychopath is to get him or her out of the organization as fast as possible. While full-blown psychopaths are not deterred by fear and do not learn from punishment, "almost psychopaths" can get the message that adverse consequences will follow misconduct. As a result, strictly enforced firm policies can be effective in deterring those who may be tempted to engage in illicit conduct. As long as the firm wants to deter them.
Muslims on Wall Street, Bridging Two Traditions
By KEVIN ROOSEAPRIL 14, 2012
NAIEL IQBAL’S co-workers couldn’t figure him out.
He’d just started at a Midtown Manhattan hedge fund — the kind of elite enclave where overachievers in button-downs go to make a few hundred grand before heading off to Harvard Business School. But Mr. Iqbal, 27, a graduate of the Wharton School, wasn’t acting like a typical finance guy. He didn’t introduce himself around the office. Nor did he grab lunch with the other traders.
In fact, he didn’t eat at all. Or drink. Not coffee, not soda, not even a sip of water from a Nalgene bottle on his desk. All day, he just sat there, staring into his Bloomberg terminal. Was he sick? Nervous? A modern Bartleby?
None of the above: It was Ramadan, and Mr. Iqbal, a Muslim, was exhausted from fasting daily till sundown.
“I’m actually a huge foodie,” he recalls with a laugh. “When Ramadan ended, I was, like: ‘Guys, let’s go to this restaurant! Let’s go to that one!’ Nobody had seen that side of me.”
Mr. Iqbal — who doesn’t drink or smoke — is among a growing number of young Muslims who are disrupting Wall Street’s old-boy culture. Seen from a certain angle, the Street can still look like a monolith -- a cohort of white males with Ivy League degrees and Roman numerals attached to their names. (This is especially true the higher you look; there are, for example, no black, female or openly gay chief executives at the nation’s largest banks.)
But as the Street adapts to greater regulation, lower profits and tighter costs, it is also experiencing change within its ranks. Among entry-level financiers, especially, a years-long recruiting effort at major banks has resulted in a diverse group of aspiring Masters of the Universe.
Young Muslims, one of the newest groups to make inroads in American finance, can face steep barriers to entry. Some obstacles are remnants of a less tolerant era. But prominent, too, are the limitations of Islam itself — a faith whose tenets, Muslim workers say, often seem at odds with Wall Street’s sometimes bacchanalian culture.
“I’m always the one drinking Diet Coke at happy hour,” Mr. Iqbal said.
Granted, for the many Muslims in New York and elsewhere who have made peace with a more secular culture, working on Wall Street may not pose any problem. And Muslims, of course, aren’t the only ones whose values can clash with the ways of Wall Street. Orthodox Jews, conservative Christians and other faithful working in finance have all, at one point, had to square their beliefs and practices with an environment in which money, not God, is king.
But for observant Muslims hoping to keep the values and practices of Islamic law, known as Sharia, intact even as they climb the ladder, the calculus can be messy.
For Aisha Jukaku, a former health care analyst at Goldman Sachs, getting started in finance carried additional challenges. Ms. Jukaku has worn a head scarf, or hijab, since she was 11. Like many conservative Muslim women, she avoids physical contact with men outside her family. (She makes exceptions for handshakes extended to her in a business setting that
In the financial world, Muslims’ religious tenets are often tested. From left are Naiel Iqbal, who works for a hedge fund; Ali Akbar, of RBC Capital Markets; and Aisha Jukaku, a financial consultant. Credit Ruth Fremson/The New York Times
“Wall Street is basically blind to religion,” said Mr. Siddiqui at Thomson Reuters. “What it’s concerned about is deal flow, assets under management and transactions.”
Mr. Malik, the former Citigroup trader, said it another way: “You could be worshiping Satan. As long as you’re making money, they’re happy.”
We take this time not to discuss the OBVIOUS---our WESTERN RELIGIONS are corrupted and criminal because our US COURTS have been taken CANON LAW-----whether Jewish/Islam/Christian------while our US BANKING system has been taken CANON BANKING-----whether Jewish/Islam/Christian. Each religious faith is always found in all global FOREIGN ECONOMIC ZONES all of them operating as if WORLD BANK/IMF is operating a LEGITIMATE business.
When our raging criminal GLOBAL WALL STREET crashes and kills all wealth assets of 99% of WE THE PEOPLE and our sovereign governments-----the CANON LAW which would protect these investors are busy asking
WHAT ARE YOU DOING IN A CRIMINAL CASINO BANKING STRUCTURE----YOU ARE A SINNER ------YOU GET NO JUSTICE.
This is why our US 99% WE THE PEOPLE cannot get any justice from massive banking frauds. This global banking trading structure is now only for global 1% and their 2%------no matter whether US or immigrant citizens black, white, and brown.
IT'S A GAME OF PRETENDING------CORRUPT CHURCH/SYNAGOGUE /TEMPLE RELIGIOUS LEADERS SAY THEY ARE INVESTING UNDER CANON LAW---WHEN THEY ARE NOT---AND THEN CONDEMN INVESTORS FOR SINNING IN A CASINO, GAMBLING MARKET.
BUT, all those global hedge fund IVY LEAGUE investments are PROTECTED. Today, global hedge fund IVY LEAGUES include lots of 5% freemason/Greek players ---MOVING FORWARD those players are OUT OF THIS MARKET.
Revising the Code of Canon Law (1983)
For Roman Catholics, canon law is another term for Church or ecclesiastical law. The word canon comes from the Greek word kanon, which is a “measuring reed.” When used to describe a body of laws and procedures for adjudication, canon law refers specifically to the regulations applying to all the Catholic faithful, both clergy and laity alike, all over the world.
Unlike Divine Positive Law (commands directly from God as found in divine revelation) and Natural Moral Law (ethical mandates known by anyone and everyone who is rational), canon law is considered “human law” just as is civil law in secular society. As such, canon law can and has changed over the centuries, while Divine Positive Law and Natural Moral Law are eternally the same and binding at all times on all people. Before Pope John Paul II, the last time the entire Code of Canon Law had been revamped was in 1917 — so by 1983, it was necessary to overhaul the system once again.
Identifying the changes
In 1959, Pope John XXIII (1958–1963) announced his desire to revise the Code of Canon Law, which had become slightly archaic in only 40 years. Before beginning the work of updating the laws of the Church, the pope saw the need to first summon and convene an ecumenical council. The Second Vatican Council met from 1962 through 1965 and issued 16 documents.
It would take three more popes and another 20 years before the Code of Canon Law would finally be revised. After John XXIII came Paul VI (1963–1978), then John Paul I, who reigned for only a month and was succeeded by John Paul II in 1978.
Because reforms of Vatican II were well under way (including performing services in the common language of the congregation, ecumenical dialogue, and involvement of the laity) the canon laws of the Church needed to reflect not only the legal realities but the philosophy and theology that were behind them. The spirit of the law and the letter of the law needed to coincide and be known and applied by everyone.
Here’s a summary of the changes made to the Code of Canon Law by the Second Vatican Council:
- A reduction in the number of laws: There are 1,752 canons in the 1983 Code of Canon Law, compared to the 1917 Code of Canon Law, which had 2,414 canons.
- A shift in the “spirit” of the law: Whereas both codes are legalistic in the sense that they contain official and binding legislation on the Universal Church, in the revised (1983) code, the purpose of Church law keeps coming across again and again. It is best summarized in the last canon (canon 1752), which has a concluding phrase: “salute animarum . . . in Ecclesia . . . suprema semper lex . . .” (the salvation of souls is always the supreme law in the Church).
- An enhancement of theological context: Both the 1917 and the 1983 codes contain a lot of legal jargon and stuff that concerns canon lawyers more than the average Catholic in the pew. Nonetheless, the revised code gives theological context within legal parameters, unlike the older code before it.
- A reaffirmation of the equality of all Christians: Though still very much a hierarchy — with the pope as supreme head, the bishop as leader of the diocese, and the pastor as leader of the parish — the 1983 Code of Canon Law affirms the union of exercising jurisdiction with the ordained ministry (bishop, priest, and deacon). At the same time, however, the revised code also reiterates Vatican II, Lumen Gentium #32 in canon 208, when it declares the equality of all the Christian faithful by virtue of their Baptism.
Holy Orders do make a man a cleric and, as such, he can exercise ecclesiastical authority and jurisdiction, but the dignity and importance of a person derives not from his vocation, but from his (or her) Baptism, which makes that person a child of God. This principle of radical equality means that each and every single individual in the Church — pope, layperson, ordained, married, single, consecrated religious — has the same destiny and same opportunity. All the baptized — not just the priests and nuns — are called to holiness. Although the ordained have authority in the Church, they do not have a monopoly on grace and sanctity, which is equally given to all the baptized.
Considering similarities and differences
The 1983 Code of Canon Law reflects the mind of Vatican II in that the essentials and substance of the faith have been retained, while the way in which they are explained, communicated, and experienced have been adapted to modern times. Just as the Second Vatican Council did not deny or modify any dogmas or doctrines, or deviate from previous councils and popes on substantive elements of faith and morals, so, too, the revised code did not change the mechanism of ecclesiastical law. Roman law and not English common law, remains the foundation of the canonical system (specifically, the search for truth and the decision made by a judge rather than a jury).
At the same time, the adversarial goal of protecting and balancing rights emerges in the 1983 Code of Canon Law when the rights and obligations of all the Christian faithful, as well as specific rights of the laity and of the clergy, are spelled out and a means to defend, protect, and remedy their violation is guaranteed in law.
Structural similarities and differences between the 1917 and 1983 codes are as follows:
- Both introduce themselves with general norms and principles in section one.
- Section two of the revised code is titled “The People of God,” which is directly taken from Vatican II. The former code called that section “On Persons.”
- The new code starts with a list (bill) of rights of all the Christian faithful, which one receives by virtue of Baptism (see the nearby sidebar, “The rights and obligations of all the Christian faithful”), and then delineates further into subsections on the laity, the clergy, the religious, and so on. The 1917 Code of Canon Law dealt with the laity last; the 1983 Code of Law deals with them first.
'Protestant Episcopal Church v. Episcopal Church'
Let's be clear---nothing MOVING FORWARD ONE WORLD ONE CENTRAL WORLD BANK has anything to do with RELIGION. The point is this: all our sovereign banking was built upon RELIGIOUS CANON ------the US was founded as PROTESTANT ----with EPISCOPALIAN wealth fueling our US public banking structure.
'The Church With the $6 Billion Portfolio
- The New York Times
The current Trinity is the third church to be built at Broadway and Wall Street. Designed in a Gothic Revival style by Richard Upjohn and completed in 1846, the brownstone building was the tallest ...'
Back then the ideals of CHRISTIANITY tied to NO USURY----banking justice for the poor was IN PLACE. Today, raging CASINO USURY AND CRIMINAL BANKING has killed all three Western religious banking tenets......ISLAM, CHRISTIANITY (CATHOLIC AND PROTESTANT), AND JEWISH.
Global 1% OLD WORLD KINGS are ARABIC/EUROPEAN CATHOLIC/JEWISH.......no PROTESTANT OLD WORLD KINGS survive.
THE TUDOR AND KING HENRY VIII-----THOSE ANGLICAN/PROTESTANT KINGS ARE BEING KILLED.
Below we see the progression------ANGLICAN AND EPISCOPAL are merging returning to ROMAN CATHOLIC while ROMAN CATHOLIC banking mirrors JEWISH BANKING----
'Trinity Church (Manhattan) - Wikipediaen.wikipedia.org/wiki/Trinity_Church_(Manhattan)
Trinity Church is a historic parish church in the Episcopal Diocese of New York located near the intersection of Wall Street and Broadway in the Financial District of Lower Manhattan, New York City, New York. Known for both its location and endowment, Trinity is a traditional high church, with an active parish centered around the Episcopal Church and the worldwide Anglican Communion in missionary, outreach, and fellowship'.
Hmmmmm, is this the 'US' vs 'THEM'? Well, as we say-------
there are too many ways to define this-----each population group has those 5% freemason/Greek players tied to GLOBAL BANKING killing all our Western religions.
This is what is meant when US national media says our US global Wall Street banking IS RIGGED.
Facing More Episcopal Church Decline
The Rev. Dr. David Goodhew
August 30, 2018
Church of England, Commentary, The Episcopal Church
By David Goodhew
The Episcopal Church’s statistics for 2017 are just out, and this article updates the picture I discussed last July, when I drew from an analysis by Dr. Jeremy Bonner, a Durham-based researcher.
The church deserves congratulation for the detail, accuracy, and especially candor it shows in sharing its data. Beyond that, it has to be said that the news is bad. The church is a movement, and the Episcopal Church is moving downward. The data from 2016 showed decline, but some optimists hoped the decline was slowing. This is not borne out by the data from 2017, when membership and attendance continued to drop at the same rate as in 2016 or, in some instances, at a sharper rate.
Year Baptized MembershipAverage Sunday Attendance
There are always individual churches and dioceses that buck the trend, but the trend is clear. Baptized membership dropped in domestic dioceses by 19.1 percent in the decade up to 2017 and this continues, with a drop of 1.9 percent in 2016-17.
The Episcopal Church shrank in the 1980s and ’90s by a number of measures, but the pace picked up from around 2000. The pace of decline increased markedly again between 2005 and 2010. Since 2010, it has continued to decline: at a slower pace than 2005-10, but faster than 2000-05. In other words, things are not be quite as bad as they were in 2005-10, but they are bad.
Baptized membership and Sunday attendance has been dropping at a roughly even rate since 2010. The drop in Average Sunday Attendance in 2016 and 2017 is smaller than 2013-15, but the drop in 2017 was bigger than in 2016.
There is wide variation between dioceses, as the chart below, sampling four very different dioceses, shows:
Fond du Lac9,7365,8594,833
As can be seen from the table above, the rate and relative timing of decline varies markedly, but almost all dioceses are in decline to some degree.
The steady fall in the number of parishes and missions has slightly slowed in the last couple of years, but continues and is large over time. There was a net fall of 753 between 2004 and 2017, a drop of over 10 percent.
YearNumber of Parishes and Missions
The Episcopal Church has made attempts to promote evangelism and church planting in recent years. While such efforts will take time, it is pertinent to ask what is happening. Data on congregation size and congregational closures suggest that the long-term aging of the church continues, as do its deleterious effects. It is striking that the percentage of congregations with big falls in Average Sunday Attendance in the last five years has significantly risen (from 52% to 57%), while the percentage of congregations growing markedly in the last five years has fallen (from 19% to 15%). This suggests much faster action is needed both to start new congregations and rescue those that are shrinking.
Hard data can be a friend, for it allows us to ask hard questions. How many new congregations have been formed in the last three years? What is their demographic profile and growth trend? Which dioceses and parts of the country have most potential for growth, and in which dioceses is that potential not yet being acted upon?
Numbers are not everything, but the virtue of hard data is that it makes churches face tough questions.
Holy Trinity Anglican Church is a Parish of the Reformed Episcopal Church (REC) and is affiliated with the Anglican Church in North America (ACNA).
We uphold “the faith once delivered to the saints” as recorded in Holy Scripture and passed on to us through the ancient Church to the Church of in England, also known as the Anglican Church.
The 16th century English Reformation, unlike some Protestant movements, sought not so much to replace the medieval Roman Catholic Church, as to restore it to its Biblical and historical foundations. The standard of this reform was the teaching of Holy Scripture as understood and applied through the Tradition of the Church and holy reason. Its goal was to restore that Catholic faith and practice which had been held by all Christians for the first thousand years prior to the division of the Eastern and Western Church. Because of its ancient history, the Anglican Church was well positioned to revive and restore this ancient faith. Today, our Anglican heritage is evident in our liturgical worship, biblical teaching, evangelical preaching and loving fellowship.
As Anglicans, we are defenders of the Faith as well as defenders of freedom with regard to non-essentials. Our doctrines arise from the three catholic Creeds (Apostles’, Nicene, Athanasian), the 39 Articles of Religion, and The Book of Common Prayer. Beyond these essentials of the faith, we enjoy the freedoms offered through a conscience renewed by the grace of God through Jesus Christ.
While our parishioner may hold varying views on the non-essential elements of the faith, the parish as a whole believes that it is our calling to bear witness of Christ the Redeemer as He is revealed in Holy Scripture. In obedience to Holy Scripture, we seek first to conform our own lives to the Gospel of Christ and secondly, to bring those outside the Church into a saving knowledge of our Lord and Savior Jesus Christ.