What do anti-Semitism, racism and Islamophobia have in common? In fact, nothing.
Whoever coined the term “Islamophobia” was quite shrewd. Notice the intellectual sleight of hand here. The term is not “Muslim-phobia” or “anti-Muslimist,” it is Islam-ophobia—fear of Islam—yet fear of Islam is in no way the same as hatred of all Muslims. One can rightly or wrongly fear Islam, or more usually, aspects of Islam, and have absolutely no bias against all Muslims, let alone be a racist.
http://www.townhall.com/Columnists/DennisPrager/2007/07/31/why_islamophobia_is_a_brilliant_term