The US Treasury claims that its targeted sanctions program is hitting Al Qaeda and rogue nations, such as Iran, hard.
We’ve no doubt that Iran, the world’s most active state sponsor of terrorism, has been substantially effected by sanctions and we would concede that Al Qaeda has no doubt been impacted in some way.
But we would point out that Al Qaeda is but one enemy in the global Islamic insurgency and recent reports have indicated that the Taliban’s funding sources remain largely intact, for instance.
Most worrying to us is the fact that we know that the US Treasury’s longstanding position of promoting Shariah Finance and the complete denial that there may be something to be concerned about with regard to zakat.
In fact, readers may recall that in his famous speech to the Muslim world in Cairo a few years ago, President Obama pledged to ease scrutiny of zakat. This came despite the details in the bipartisan 9/11 Commission Report in which it was revealed that Al Qaeda received substantial funding through the zakat system.
For this reason, we have to remain skeptical that Al Qaeda’s funding sources have dried up due to US sanctions policy…