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 […]
U.S. Treasury Department Sanctions Three Senior Al-Qaeda Terrorists
9/7/2011 WASHINGTON – The U.S. Department of the Treasury today announced the designation of three senior al-Qa’ida leaders based in Pakistan: leader and commander Abu Yahya al-Libi; senior leader ‘Abd al-Rahman Ould Muhammad al-Husayn Ould Muhammad Salim; and al-Qa’ida facilitator, courier and operative Mustafa Hajji Muhammad Khan. “We are targeting two of al-Qa’ida’s top strategists […]
3 Boston Islamic charity leaders convicted for support of jihad
A federal appeals court on Thursday overturned the acquittal of a Libyan man and two associates who were accused of conspiring to dupe the U.S. government into granting tax-exempt status to a defunct Muslim charity by hiding its pro-jihad activities. The appeals court reinstated the jury’s guilty verdict against Libya’s Emadeddin Muntasser together with Samir […]
The Treasury Department added three members of Jemaah Islamiyah (JI), an al Qaeda affiliate based in Southeast Asia, to its list of specially designated global terrorists earlier this month. Two of the three, Abdul Rahim Ba’asyir (Abdul Rahim) and Muhammad Jibril Abdul Rahman (Jibril), were identified as senior members of JI’s al Ghuraba cell in Karachi, […]
Another Apologist Attempts to Rewrite History for Cat Stevens
Most of SFW’s readers probably know who Cat Stevens is. He was a folk singer who converted to Islam in the late 1970s and changed his name to Yusuf Islam. At the time of his conversion, he swore off his music and devoted himself to his new-found faith. A few years later he found himself […]
Al Qaida raises funds online to ‘feed widows and orphans’ of ‘the martyred’
Al Qaida in Iraq has acknowledged that it lacked money for support operations in the insurgency war in Iraq. A leading Al Qaida agent said this has hampered payment to families of those killed in attacking Iraqi and U.S. targets. Read more at World Tribune: http://www.worldtribune.com/worldtribune/WTARC/2011/me_terror0994_08_08.asp
Al Qaeda’s Financial Ties to Iran Exposed
During the 2008 presidential campaign, the Obama campaign belittled Senator John McCain for alleging ties between Iran (which is Shiite-ruled) and Al Qaeda (which is a Salafist Sunni organization). At the time, your SFW editor wrote an article for National Review on the subject: http://www.nationalreview.com/articles/223992/iranian-entanglements/christopher-w-holton Now, more than three years later, Obama’s US Treasury Department […]
Emotions are running very high in Nigeria and the issue of the country’s central bank governor insisting on introducing Shariah-compliant banking is front and center in a clash of civilizations within the African nation… At a time when the Nigerian polity is on fire and the Islamic radicalism is the celebrity of death, one wonders […]
Here is the latest development in the saga involving creeping Shariah and the effort to impose Shariah finance in Nigeria. If you recall, previously we reported on how the central bank chief in Nigeria is attempting to circumvent regulations to allow Shariah finance to gain a foothold in the west African nation. Then came reports […]
In what may be the most absurd outrage to date from the disgraceful Eric Holder Justice Department, there is now a motion afoot to free convicted Al Qaeda terrorist and Muslim Brotherhood operative Abdurahman Alamoudi. Abdurahman Alamoudi was convicted and sentenced to 23 years for his role in financing Al Qaeda and for his role (he […]
Mallam Sanusi, the Shariah scholar who also unfortunately chairs the central bank of Nigeria and is championing Shariah Banking in that African nation, claims that Al Qaeda attempted to open a Shariah-Compliant bank in Nigeria in the 1990s but was turned down because it could not meet the licensing requirement. This claim is remarkable and […]
Another former Gitmo resident turned Al Qaeda fundraiser
The good folks at Money Jihad blog came across a story we overlooked last month and, because it involves financing for Al Qaeda and a former Guantanamo prisoner, we felt it important to post it here. Hat tip to Money Jihad via Miami Herald… The State Department Thursday added a freed Guantánamo detainee to its […]
The good folks over at Jihad Watch have posted a very important story about the Saudi-controlled International Islamic Relief Organization, a terrorist NGO that funds Al Qaeda in Pakistan: From Jihad Watch: We consistently see the juxtaposition of armed jihad and social services in groups like Hamas and Hizballah, and other organizations in the Muslim world, […]
British Muslim Charged With Raising Funds for Jihadist Terrorism
A British Muslim has been charged with three counts of raising funds for terrorism. Shabaaz Hussain, 27, from east London, is accused of providing money or property for terrorism purposes on 12 April, 6 July and 3 September 2010. He is also accused of playing a part in preparing for acts of terrorism in Somalia […]
From time to time, we here at SFW have been critical of The Economist. In the past The Economist has run what amount to advertorials for Shariah-Compliant Finance and even their more balanced articles have ignored the real concerns surrounding Shariah Finance. Then there was the time that The Economist lashed out at those Americans […]
Poor financial decisions with a Chicago futures brokerage firm lost an alleged al-Qaeda operative with links to Osama bin Laden some $20 million dollars in just eight months, according to a lawsuit filed recently in Chicago by the U.S. Department of Justice. Federal officials said Abu al Tayyeb, through an associate, deposited nearly $27 million […]
Osama Bin Laden played host to Taliban leaders and wealthy supporters while he was living in his Abbottabad compound in Pakistan. An Afghan leader of the Taliban said he had visited Bin Laden in the Abbottabad compound. He said other members of Al Qaeda met with Bin Laden too, as did Taliban allies and Arab […]
Matthew Levitt was the lead man for the US Treasury Department on the issue of terrorism financing for several years. He was especially effective when it came to sanctions against Iran. Now he is in the non-profit sector and has written an interesting article for Foreign Policy magazine about the potential impact of the slaying […]
CNN has a pretty good article that summarizes just where Al Qaeda is getting its money. Regular readers of Shariah Finance Watch will not be surprised by what CNN points out. CNN’s article identifies 4 primary sources of funding for Al Qaeda: “…wealthy individual patrons, infiltrated charities, criminal activities and legitimate businesses.” They are incorrect […]
British taxpayers’ money meant for destroying Afghanistan’s poppy crop was instead used to fund Al Qaeda. The Daily Mail quoted documents leaks by Wikileaks as saying that over 300,000 pounds of British aid budget was paid to Afghan politician, Mullan Haji Rohullah, but he used it to support Al Qaeda while continuing to traffic in […]
Al-Qaeda linked Al-Shabaab Jihadists in Somalia have ordered school teachers in the Middle Shabelle region to register their students within 10 days in a bid that militants want to push their fund raising program forward. Sheik Mohamed Abu Yahya, an Al-Shabaab commander in charge of finance, told school teachers in the region’s provincial capital Jowhar […]
Al Qaeda called a ‘money making machine’ by British official–that’s not even HALF the story
The article below from The Telegraph in Great Britain quotes a British Foreign Office director as describing Al Qaeda as a “money making machine,” due to Al Qaeda in the Islamic Maghreb’s practice of ransoming hostages for money. Evidently, Italy, Spain, Austria and Switzerland have all paid such ransoms to the Jihadist terrorist organization. This […]
One of the chief concerns surrounding Shariah-Compliant Finance is the whole issue of zakat, a form of tithing in Islam. According to Shariah law texts, one of the approved destinations of zakat is to “those fighting in the way of allah,” defined as those who are conducting Islamic military operations who are not on the […]
Investigators in Peru say that they have found proof that the Jihadist terrorist organization al Qaeda is routing money to India from Europe. The Peruvian Financial Intelligence Unit (FIU) shared with the US that it has tracked the movement of money by al Qaeda elements to India via Peru, leaked US cables released by wikileaks […]
The latest via Money Jihad… “funding for the FIOE is derived largely from Gulf sources, including some of the ruling families of the United Arab Emirates. The FIOE has strong ties to Hamas and Hamas fund-raising organizations, and some FIOE member organizations show evidence of links with Al-Qaida. http://moneyjihad.wordpress.com/2011/02/08/focus-on-fioe-funding/
Wall Street firms received briefings from US security officials about a potential threat after the publication of the most recent issue of Inspire Magazine ran a cover story advocating jihadists target banks and other institutional wealth centers. The briefings took place in January, according to NBC news. The fourth issue of Inspire was published on […]
A top Al Qaeda leader has urged extremists to steal from non-Muslims to fund their activities. A five-page article in online terror magazine Inspire, written by Anwar al-Awlaki, a US-origin Yemeni radical cleric regarded by many as one of Al Qaeda’s most dangerous leaders, gives Islamic justification to rob non-believers to fund jihad or holy […]
Great work by Money Jihad blog on the Zakat-Terror Finding Nexus
Over the past week, Money Jihad has posted some excellent work on the use of zakat funds for Jihad. These postings are not to be missed… 1. British Muslims are the Taliban’s Greatest Source of Revenue http://moneyjihad.wordpress.com/2010/10/22/british-muslims-are-taliban’s-“greatest-source-of-revenue”/ 2. Osama Bin Laden calls for a new mega-Islamist charity http://moneyjihad.wordpress.com/2010/10/24/just-what-the-world-needs/ 3. Zakat money flows uninterrupted to Jihadist […]
14 Indicted by Justice Department for Supporting Al Qaeda-affiliated Al Shabaab
“The two Jihadists arrested this week—females who were naturalized U.S. citizens and residents of Minnesota—have been charged with raising money to support al Shabaab through door-to-door solicitations and teleconferences in Somali Muslim communities in Minnesota and other locations in the U.S. and Canada. The Justice Department claims that in some cases, funds were raised under […]
The Philippines’ state-owned Al -Amanah Islamic Bank may sell the nation’s first Shariah- compliant bonds to finance development in Muslim Mindanao the poorest region and base of Abu Sayyaf separatist militants. Global sales of debt that conform to Shariah law fell 29 percent to $6.65 billion this year, according to data compiled by Bloomberg. Mindanao […]
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