Money Jihad blog has an informative video posted that points out that hawala is just a method by which money flows to Jihad. It is not the source of funding for Jihad. Until those who fund Jihad are made to pay a stern price in the form of military retaliation or imprisonment, we cannot defeat the […]
Opium Trade Flourishes in Afghanistan; Taliban Benefit
Despite previous efforts by the US to reduce Afghan dependence on the opium trade, opium production and exports are soaring once again in Afghanistan. This is bad news in and of itself, but the worst aspect is that it enriches Taliban Jihadis… “The Taliban’s involvement with the narcotics trade has increased steadily over time,” Colin […]
Are Politics Stalling the War on Terrorism Financing?
We would maintain that the active denial of the true nature of Shariah and Shariah-compliant finance has meant that the war on terrorism financing has never been properly waged to begin with, but nevertheless, the article below from the Journal of International Security Affairs is well worth a look. … it is obvious that the war […]
…hawala dealers, also called hawaladars, need bank accounts to operate — and most American banks are reluctant to work with them, fearing the money could wind up in the wrong hands. And it has: In 2011, two Somali-American women from Rochester, Minn., were convicted of funneling money to the terrorist group al-Shabab. A bill from Democratic Rep. Keith […]
Kazakhstan’s state-controlled bank, BTA, has been implicated in a transfer allegedly made by the bank to the benefit of an unnamed terrorist group. Security watchers have started to recognise the diversification and long-distance integration of terrorist networks – in particular away from the Middle East. “For years, individuals and charities based in Saudi Arabia were the most […]
The military web site Strategy Page has an interesting synopsis of the largely successful efforts to counter jihad in Bangladesh. In that synopsis, the folks at Strategy Page detail the role of Islamic charities in supporting and spreading jihad: JMB (Jamaat-ul-Mujahideen Bangladesh) survived largely through the efforts of local and foreign Islamic charities, including al […]
Despite onerous sanctions that have basically shut Iran out of the global financial system, the country is still finding some ways to bypass them, the Treasury Department said Thursday, describing what it called a small but “emerging threat” to the effectiveness of the sanctions effort. Adam Szubin, director of the Treasury’s Office of Foreign Assets […]
Bangladesh, Banking and Terrorism Financing
“Some linkages between Islamic Banking and terrorist organizations have now been brought into the open, but the networks have not been dismantled.” Bangladesh has a long history of weakness on money laundering and the use of banks to funnel money to Jihadist terrorist organizations. The country is now on the verge of being blacklisted for […]
An investigation by Indian authorities into an August bomb attack in Pune, India has uncovered a significant Saudi connection to the deadly and infamous Jihadist terrorist organization, Lashkar e Taiba. That connection appears to center around a Saudi citizen named Fayyaz Kagzi: Asad travelled to middle-east, especially Saudi Arabia, several times to meet Kagzi and spent […]
More Details on Funding for the Taliban
Not long ago we mentioned that the Taliban had gone online to raise money for their violent Jihadi activities. In that same post we mentioned that US intelligence sources had indicated that most of the Taliban’s financing sources remained intact since US forces engineered their overthrow way back in 2001. This continued financing provides one […]
In Somalia, Fears Over U.S. Wire Transfer Block
Over the past 18 months or so, SFW has covered the raising of funds by Al Shabaab terrorists in Somalia. These Al Qaeda-affiliated Jihadists have used several methods to raise money and they have been quite successful at it. They have used everything from extortion and intimidation to charity fronts collecting zakat. Some of this […]
Al-Shabaab has become a top-tier terrorist organization from its extensive revenues. Their wealth is largely based on Islamic taxes that al-Shabaab imposes in accordance with the Koran. It is following the same broad-based sharia revenue model that launched the Taliban from being an obscure students’ movement into an multinational financial hegemon. http://moneyjihad.wordpress.com/2011/08/16/al-shabaab-economic-powerhouse/
How Counterfeit Money Fuels Jihad in India
India faces an increasing inflow of counterfeit currency, produced primarily in Pakistan, and terrorist and criminal networks use this money to finance their activities in the country according to the US government’s 2011 International Narcotics Control Strategy Report of the State Department. Noting that India is a significant target for terrorist groups, both external and […]
The US State Department has tagged “remittances from overseas Filipino workers,” or OFWs, as a possible external funding source of the terrorist Abu Sayyaf Group (ASG), along with Middle East-based extremist groups. Abu Sayyaf Group had previously appealed for funds and recruits on You Tube by featuring a video of its late leaders Abdurajak and […]
Hawala network tied to Times Square bomb plot
Hawala is an informal international Islamic money brokerage system with Shariah origins. It operates around the world, but exclusively in Islamic communities. It’s sort of like a Western Union system without any oversight. It is also used by money launderers to move wealth outside of the view of law enforcement and intelligence agencies. Hawala is also […]
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