…from the Economic Times of India…
Al-Qaida awash in funds despite meltdown
16 Oct, 2008, 2157 hrs IST, AGENCIES
CAIRO-EGYPT: The meltdown in the global financial system may spare al-Qaida.
Buoyed by years of record oil revenues in the Gulf and Afghanistan’s
booming drug trade, al-Qaida and other Islamic terrorist groups are thought to
have access to strong potential funding sources – and thus might dodge fallout
from the global crunch devastating others.
Yet all is not lost in the effort to rein in money for terror groups. One
principal reason the groups may avoid fallout now is because they’ve been forced
to pull away from banks, relying instead on less-efficient ways to move money.
Those methods – including hand-carrying money and using informal money-transfer
networks called hawalas – likely will shield extremists from the current banking
But the methods also are slower and less efficient ways to move money – and thus
could hamper efforts to finance attacks, analysts say.
contine reading at…….http://economictimes.indiatimes.com/articleshow/msid-3605315,prtpage-1.cms