Jonathan Schanzer: Saudi Arabia’s Terror Finance Problem
An excellent article from noted expert Jonathan Schanzer on Saudi Arabia’s citizens’ support for Jihad…Keep in mind that this is the same Saudi citizenry heavily involved in Shariah Finance, yet we are expected to believe that there is no threat of Jihadist terrorism benefiting from Shariah Finance…
The Saudis produce, thanks to proceeds from the West’s insatiable thirst for petroleum, far more jihadist philanthropy than any other Muslim country. One former State Department official estimates that Saudis donate between $3 and $4 billion annually to Islamic causes. According to one source, from 1973-2002, the Saudi government spent some $80 billion on Islamic institutions, mosques, Islamic centers, Muslim colleges, and Islamic schools. Given the opaque nature of Saudi society, many terror finance analysts have tried and failed to pinpoint the exact percentage of those funds earmarked for terrorism and extremist causes. But if it’s just ten percent (a lowball estimate), that would be $8 billion. The real number is likely higher.