Boko Haram resorts to cattle poaching to raise funds
posted by Christopher W. Holton The savage jihadist group Boko Haram has added another method of funding jihad: cattle rustling… http://www.vanguardngr.com/2016/03/boko-haram-now-sells-stolen-cattle-to-fund-terror/
Nigeria has been wracked by Boko Haram’s violent Jihad in recent years, something that is expected to escalate, now that Boko Haram has pledged allegiance to the Islamic State. One Nigerian official at least recognizes the importance of financial flows to Jihad… Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Lamorde, has advocated […]
Hezbollah’s Jihadist tentacles spread far and wide. The latest evidence comes from Nigeria, where Hezbollah is involved in extensive drug trafficking and money laundering activities to finance its terrorism… https://moneyjihad.wordpress.com/2015/03/03/hezbollah-financier-in-nigeria-exposed/
Boko Haram Trafficking Drugs in India to Raise Money for Jihad
Boko Haram is the latest dreaded outfit to slither into India. Riding on the back of the Nigerian drug syndicate, Dawood Ibrahim’s proximity with Al-Qaeda and his tentacles in India, the Nigerian outfit which recently triggered worldwide panic by abducting 276 schoolgirls, has penetrated the African drug-cartel operating in India, top Intelligence sources told The […]
Shariah Gaining Foothold in Africa Through Shariah Bond Offerings
African markets are starting to open to Shariah finance, primarily through governments’ debut sales of sovereign sukuk (Shariah bonds). Regimes across Africa are using Shariah bonds as a way to attract cash-rich Islamic investors, with South Africa making a $500 million issue in September and Senegal raising 100 billion CFA francs ($208 million) in June. The Tunisian government could […]
This article is significant for two reasons: 1. It illustrates the economic cost of Jihad inflicted on nations around the world. 2. It shows specifically what Nigeria is undergoing thanks to the vicious Jihadist organization Boko Haram, which evidently is growing more powerful all the time. Someone is supporting Boko Haram. Someone is funding them… […]
The excellent Terror Finance blog recently published an article on a little known aspect of the jihadist terrorist organization Boko Haram’s financing structure. We’ve all received emails over the years trying to lure us into a scam involving Nigerian fraud. It turns out that those emails may be more than mere pranks and beyond emails, […]
The financial jihad is coming to Africa. Africa presents a high growth opportunity for Islamic banking products — more particularly in East and West Africa, given these markets are home to the largest number of Muslim residents. Nigeria has the largest Muslim population in Africawith around 80 million people. Across Sub-Saharan Africa, the number of Muslim residents is expected to […]
Linked below is an analysis of how Boko Haram raises money to finance its operations. The only disagreement we would have about this article is the reference to “fake” charities. The concept of charity in Shariah is quite different from what the rest of the world is used to. The charities are not fake, but […]
The central bank of Ghana says it will consider granting a license for Shariah-compliant banking…meanwhile, Shariah finance is running into understandable resistance in neighboring Nigeria… But the introduction of Islamic banking in Nigeria is bringing some divide within the country’s religious (both Christians and Muslims) leaders.A Voice of America (VOA) report July 15, 2011 indicates […]
Funding for the Nigerian Jihadist terrorist organization is believed to be “vast and varied,” as the organization has conducted increasingly sophisticated attacks with more lethal and modern weaponry. Foreign Jihadist groups, like Al Qaeda in the Islamic Maghreb, are suspected of funding Boko Haram, but the group’s income also comes from a much wider variety […]
Nigerian Indicted in Brooklyn Court on Material Support for Terrorism
A Nigerian national, Lawal Babafemi, was arraigned last week in a U.S. Federal Court in Brooklyn, New York on charges of providing material support to al Qaeda and criminal use of firearms. Mr. Babafemi, 33, also known as “Ayatollah Mustapha”, was arraigned on a four-count charge of indictment including conspiracy, providing material support to al […]
Here we have one of the starkest examples yet of the use of Shariah-finance to basically extort borrowers into adhering to Shariah. The head of Nigeria’s central bank all but says that if African nations want to secure funding for their infrastructure projects, they better turn to Islamic finance. Islamic finance is of course a […]
Sukuk, sometimes known as Islamic bonds, continue to be the vehicle of choice for Shariah-compliant finance. Oman just granted regulatory approval for its first sukuk… http://www.reuters.com/article/2013/06/26/oman-sukuk-idUSL5N0F21BW20130626 And Morocco…with the help of the Islamic Development Bank…has launched its first sukuk… http://www.cpifinancial.net/news/post/21528/moroccos-first-sukuk-being-backed-by-the-islamic-development-bank And last but not least, Nigeria’s first sukuk will be launched in July… http://www.reuters.com/article/2013/06/25/nigeria-osun-idUSL5N0F12J220130625 […]
In Nigeria, a bank offering “interest-free” loans to poor farmers back in 2009 in conjunction with a Shariah court judge, is now under investigation for fraud. Readers may want to take note that Nigeria is being wracked by a violent jihad these days: http://vinienco.com/2012/11/26/twelve-christian-pastors-killed-muslims-nigeria/ http://vinienco.com/2012/11/26/muslim-suicide-bombers-kill-eleven-christians-attending-sunday-church-service-nigeria/ As has so often been the case, violent jihad is […]
Nigeria is a country that has been wracked by violence from Boko Haram Islamic terrorists. They have been particularly brutal in their attacks on Christian worshippers in churches on Christian holy days, such as Christmas and Easter. Now the financial jihad has come to Nigeria. At a zakat seminar (NOTE: zakat is used to fund […]
Al Qaeda turns to hostage taking across Africa to raise revenue
After years of limiting its kidnap operations to Mali, Niger, Mauritania, and occasionally Algeria and southern Tunisia, it would seem that al-Qaeda, through its Maghreb branch al-Qaeda in the Islamic Maghreb (AQIM) is currently attempting to expand its profitable “kidnapping trade” to other countries to locate new sources of funding. According to Algerian authorities, kidnapping […]
Promoters of Shariah Compliant Finance have often exaggerated and even fabricated the benefits of Shariah-Compliant Finance. They have declared it “ethical” despite all of the sukuk defaults, the zakat money finding its way into terrorist hands and the large shariah-compliant financial institutions that have even been sanctioned due to their ties to terrorism. Sometimes, the […]
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 […]
Each new day brings another story over the seeming clash of civilizations in Nigeria. Though it has not been reported separately and is not the primary subject of the article linked below, evidently, an organization calling itself the Supreme Council for Sharia in Nigeria has threatened to start a war if Nigeria does not adopt […]
We’ve been watching developments in Nigeria closely as of late. Lamido Sanusi is that country’s central bank governor and, unfortunately, he is also a Shariah scholar of sorts. As we have reported previously, he is pushing hard for Nigeria to embrace Shariah-compliant finance and has pulled all sorts of strings to facilitate it. This has made […]
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 […]
Readers of SFW may notice that we have devoted several posts in recent weeks to Nigeria. The chief of the central bank in Nigeria, Mallam Sanusi, is an unapologetic financial jihadist and describes himself as a “shariah scholar.” He has been pushing hard for Shariah banking and finance in Nigeria, so hard in fact, that 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 […]
Lately we’ve been watching the story of how Shariah Banking has begun to infiltrate Nigeria by bypassing the political process there and winning special regulatory concessions that conventional banks don’t enjoy. Now we offer an article that identifies the personality behind the financial Jihad in Nigeria, Lamido Sanusi, “a Shariah/Arabic scholar,” who heads Nigeria’s central bank […]
The approval given by the Central Bank of Nigeria (CBN) for the operation of Islamic banking in the country is generating disquiet in the polity. Reasons for this are not difficult to fathom. The apex bank, apparently unimpressed by reservations expressed on the initiative in some quarters, last week, announced its approval in principle of […]
Note the typical tactic on the part of the financial jihadists to claim–falsely–that Shariah compliance is protection against economic and financial dislocation… CBN Governor, Mallam Sanusi Lamido Sanusi, and indeed other Islamic financial experts have touted NIB as the panacea for the ills of the overly capitalist driven financial systems of the world in the […]
The Central Bank of Nigeria, CBN, yesterday announced minimum capital base requirements for Islamic banks. Critics faulted the central bank on the introduction of Shariah banking, pointing out that Nigeria is a secular state and the CBN Act does not empower the central bank to introduce Shariah banking. Faulting the central bank on the introduction […]
Egypt delays sukuk as financial jihad comes to South Africa and elsewhere
The political unrest in Egypt has forced that country to delay setting up the structure for sukuk (Islamic) issuance, but the financial jihad is moving into Nigeria, Kenya and, most ominously, South Africa. The delay in Egypt will no doubt be short-lived, given the growing influence of the Muslim Brotherhood in the political power structure […]
Nigeria, a country wracked by Jihadist violence in recent years, is poised as a growth market for the financial jihad. The West African nation plans to license at least two Shariah-Compliant financial institutions this year. In addition, three non-Islamic banks have expressed interest in opening Shariah-compliant “windows.” Nigeria also signed an agreement with Malaysia’s central […]
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