posted by Christopher W. Holton Hezbollah is stepping up a campaign to place its allies at the heart of Lebanon’s banking system as the US seeks to disrupt the armed group’s financial networks… https://www.thenational.ae/world/hezbollah-steps-up-campaign-for-control-of-lebanon-s-financial-system-1.1006054
posted by Christopher W. Holton In a story that has been mostly overlooked in the media, the U.S. secured the release of U.S. citizen Amer Fakhoury from custody without charge in Lebanon. You can read all about the coup at the Jerusalem Center for Public Affairs, but the relevance from a financial standpoint is that […]
posted by Christopher W. Holton There are rumblings that Washington is preparing more wide-ranging sanctions aimed at the Jihadist terrorist organization Hezbollah. These sanctions are well-deserved and overdue. Not only did Hezbollah kill 241 US Marines, sailors and soldiers in Beirut on 23 October 1983, they also participated heavily in the insurgency in Iraq, trained […]
posted by Christopher W. Holton Gilbert Chagoury donated millions of dollars to the Clinton Foundation. He also donated to a Lebanese organization with financial ties to Hezbollah, designated as a Foreign Terrorist Organization by the U.S. State Department. Let that sink in. Hillary Clinton was Secretary of State. A huge donor to her family foundation […]
By Christopher W. Holton The Islamic State is back at their “fundraising” efforts, which always seem to involve some form of monstrously illegal activity. Whether it’s black market oil sold through our “allies” in Turkey or black market antiquities sold to unscrupulous art dealers in the West…or simple ransom…the Islamic State has a great need […]
The Union of Arab Banks is holding a forum entitled ‘Drying up the Sources of Terrorism Financing’ on 14-15 May 2015 in Beirut, Lebanon, under the patronage of HE Nihad Hanged, Minister of Interior and Municipalities in Lebanon, and in the presence of HE the Secretary General of the Council of Ministers of the Arab […]
From the Washington Free Beacon… The Bill, Hillary and Chelsea Clinton Foundation accepted millions of dollars from a former deputy prime minister of Lebanon known for defending Hezbollah… Issam Fares, a Lebanese billionaire, …has given between $1 and $5 million in donations to the Clintons’ foundation with donations coming as recently as last year… Fares was […]
FBI: Former Venezuelan Ambassador to Lebanon Was Hezbollah Fundraiser
The connection between Venezuela’s socialist dictatorship and the Shariah-ruled Islamic Republic of Iran has been well-documented over the years. And that relationship naturally extends to Iran’s proxy: the Jihadist terrorist group Hezbollah. But up to now the level of cooperation between Venezuela and Hezbollah was largely unknown. No any more. A new report has emerged […]
Australian Money Transfer Firm Shut Down Amid Suspicions of Terror Financing
An Australian money transfer business owned by the sister and brother-in-law of a convicted Sydney terrorist named Khaled Sharrouf has been shut down amid concerns it was sending millions of dollars to the Middle East to finance terrorism. Damour Sharrouf and her husband Ahmed Alwash have had their Lakemba firm Bisotel Rieh Pty Ltd suspended after the […]
A Lebanese bank that laundered money from drugs and other operations for clients tied to Hezbollah terrorists agreed to pay US authorities $102 million to settle the charges. Beirut-based Lebanese Canadian Bank was targeted in February 2011 for moving hundreds of millions of dollars for criminal groups and traffickers operating in Latin America, West Africa […]
Hezbollah Raises Money for Jihadist Terror in Europe
Linked below is an excellent article that details how the European Union’s intransigence and refusal to declare Hezbollah a terrorist group has led to the Jihadist organization using Europe as a base for fundraising… Lebanese Shiite communities in Europe provide good recruiting pools for the Party of God and often donate money to Hezbollah-sponsored charities […]
The drug trade is widely used to fund Jihad. This is especially true of Hezbollah, as this case illustrates, but the drug trade also provides extensive financing for the Taliban in Afghanistan. An Iranian man faces a sentence of life in prison after he was convicted in federal court in New York of conspiring to […]
A Lebanese bank can face claims in New York of negligence and breach of duty in a lawsuit brought by U.S., Israeli and Canadian victims of Hezbollah rocket attacks and their families, the state’s highest court ruled. http://www.bloomberg.com/news/2012-11-20/hezbollah-victims-may-bring-claims-in-n-y-court-rules.html
In a move that illustrates the incredible weakness of US counterterrorism efforts, the US Treasury, in what can only be described as a cynical gesture, has “triumphantly” announced sanctions against a Hezbollah jihadist terrorist who killed and tortured US GIs in Iraq. The US could have and should have remanded this monster into permanent custody, […]
Hussein Fahs, who is considered Hezbollah’s CFO and head of the organization’s operational communications network, has reportedly fled Lebanon and defected to Israel…and he brought with him a considerable sum of money, along with documents and maps… It seems he may have been caught embezzling from the Jihadist terrorist group and decided that defecting to […]
“Ethical Investing” from Countries Overrun With Corruption?
Transparency.org has publishes a Corruption Perceptions Index that rates the level of corruption in the world’s nations. The most recent year for which there is data is 2011. The results are instructive for observers of Shariah Compliant Finance. Shariah-Compliant Finance is often touted by the financial jihadists as “ethical” investment. There are a variety of […]
U.S. officials said last week that they seized $150 million connected to a scheme in which entities linked to Hezbollah allegedly used the U.S. financial system to launder money through West Africa and back to the group’s base of Lebanon. The seizure stems from a civil lawsuit filed last year by federal prosecutors in Manhattan […]
The excellent organization United Against Nuclear Iran issued a report just before the Independence Day holiday on the role of Lebanese banks in providing funding for Hezbollah… UANI Reveals Lebanese State-Sponsored Iran/Hizballah Money Laundering Scheme that Fraudulently Supports Lebanon’s Sovereign Debt Market, Calls for Bondholder Divestment UANI Investigation Uncovers Scheme to Artificially Support Lebanon’s Sovereign […]
WASHINGTON – The U.S. Department of the Treasury today designated four individuals and three entities involved in laundering the proceeds of narcotics trafficking for drug kingpin Ayman Joumaa. Treasury also designated a Colombia-based individual under its terrorism authority, Executive Order (E.O.) 13224, for directing Hezbollah’s fundraising activities in the Americas. This individual was previously designated under […]
A year ago SFW reported on a Toledo, Ohio couple who had conspired to send money to the Jihadist terrorist group Hezbollah: https://shariahfinancewatch.org/2011/05/24/ohio-lebanese-american-couple-pleads-guilty-in-hezbollah-terror-funding-case/ This week the husband, Hor Akl, was sentenced to just over 6 years in prison for his role in the scheme. This sentence is so lenient as to be insulting to the […]
The Yassine family of Austin, Texas is apparently quite the enterprising group. Led by Hussein “Mike” Yassine, the Yassines were quite diversified. They own 8 bars. According to law enforcement authorities they are also a one-family crime wave. They are involved in murder, money laundering, drug dealing–and they have a brother back in Lebanon who […]
The Washington Institute for Near East Policy has published a good report on the Jihadist terrorist group Hezbollah’s (spelled in the report as “Hizballah”) criminal activities, their money laundering and finance activities in particular, which will no doubt be of interest to SFW readers. Here are some excerpts and a link to the full report: […]
Hezbollah is often referred to as the “A” team of terrorist organizations, with capabilities, support and financing unsurpassed in the world of jihad. In fact, many analysts in the US military, intelligence and law enforcement communities worry more about Hezbollah than they do about Al Qaeda. It has been known for decades that Hezbollah works […]
The US Department of the Treasury took action against the Lebanese Canadian Bank SAL this week, charging that the bank facilitates Jihadist terrorist group Hezbollah’s money laundering activities. In its 14 page report the Treasury Department designated the bank as being of “primary money laundering concern,” the effect of which is to place sanctions on […]
Sukuk “Alert”
Official and private entities in Jordan, Indonesia, Abu Dhabi, Malaysia, Saudi Arabia, Qatar, Dubai, Luxembourg, Sudan, Pakistan, Kazakhstan, Lebanon, Kuwait, Thailand, Islamic Development Bank and General Electric (GE) all are contemplating or planning Sukuk (Islamic bond) offerings in the near future… http://www.bloomberg.com/news/2010-06-22/jordan-indonesia-islamic-development-bank-plan-sales-islamic-bond-alert.html
A Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica and Forbes.com
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to replace capitalism and our free enterprise system: http://www.forbes.com/2009/12/10/islamic-finance-after-dubai-business-oxford-analytica-islamic-finance.html?feed=rss_business In fact, the article reads less like journalism and more like a press release from […]
Just a few days ago, the Kuwaiti News Agency (KUNA) was proclaiming that Islamic banking was thriving in Lebanon. It appears that all is not actually so great in Lebanon when it comes to Islamic finance, but we won’t hold our breath waiting for KUNA to report this story. It seems Hezbollah has gotten its […]
Once again courtesy of the Kuwait News Agency (KUNA), we get a nice fictional piece about the performance of Shariah banks in the current economic crisis…and the news that the industry is thriving in Lebanon. http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2042518&Language=en
A prominent Lebanese businessman was charged over the weekend with embezzlement, distributing invalid checks and violating Lebanese fiscal laws in a case that local media have estimated could represent a loss of hundreds of millions of dollars to investors. Salah Ezzedine, a financier and business mogul from Lebanon’s Shiite Muslim community who has ties to […]
The Dow Jones Islamic Index, a product which has already caused embarrassment for Dow Jones when it was fully disclosed that the hateful Jihadist Mufti Taqi Usmani sat atop its Shariah advisory board last year, is now set to expand by 11 countries to 68 total nations. Nothing is more illustrative of the march of […]
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