Glance at Islamic terror money

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Glance at Islamic terror money


Oct 16, 5:39 PM (ET)

By The Associated Press

A look at the ways analysts say al-Qaida and other Islamic terrorist groups get money and how it has changed over time:

- Soviet war in Afghanistan:

Many Islamic terror groups have their origins in the Soviet war in Afghanistan that started in 1979. During the war, the U.S., Saudi Arabia and other countries funded Islamic militants who eventually drove the Soviets to withdraw in 1989.

- Al-Qaida's early years:

Saudi Arabia denied Osama bin Laden access to much of his inherited wealth in the early 1990s after he became critical of the Saudi royal family. He then relied more heavily on wealthy donors and Islamic charities in the Gulf.

A U.S. investigation into the Sept. 11 attacks said it cost al-Qaida an estimated $30 million per year to sustain its activities before the attacks - with almost all the money raised through donations.

A 2004 U.S. investigation found banks in the United Arab Emirates had unwittingly handled most of the $400,000 spent on the Sept. 11, 2001 attacks.

- Post-Sept. 11 attacks:

Crackdowns on banks and other financial institutions by the U.S. and its allies disrupted terrorist financing networks in the wake of Sept. 11.

The groups continue to rely heavily on wealthy donors and Islamic charities in the oil-rich Gulf, especially in Saudi Arabia.

The groups have also benefited from the drug trade in Afghanistan that boomed after the U.S.-led invasion in 2001. Former U.S. drug czar Gen. Barry McCaffrey estimates al-Qaida and the Taliban are principally funded by some $800 million from the drug trade.

http://apnews.myway.com/article/20081016/D93RRB0G1.html
 
Analysts: al-Qaida has funds despite economic woes

Oct 16, 3:08 PM (ET)

By SEBASTIAN ABBOT


CAIRO, Egypt (AP) - Al-Qaida, which gets its money from the drug trade in Afghanistan and sympathizers in the oil-rich Gulf states, is likely to escape the effects of the global financial crisis.

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Al-Qaida and the Taliban have benefited from the drug trade's growth in Afghanistan after the U.S.-led invasion in 2001, and the booming business likely will not be affected by the global slowdown.

Opium cultivation has fallen slightly this year but is still about 20 times higher than in 2001, according to the U.N. Office on Drugs and Crime.

Former U.S. drug czar Gen. Barry McCaffrey, who recently consulted with U.S. and NATO officials in Afghanistan, issued a report in July saying al-Qaida and the Taliban "are principally funded by what some estimate as $800 million a year derived from the huge $4 billion annual illegal production and export of opium/heroin and cannabis."

In addition, wealthy donors and Islamic charities in the oil-rich Gulf, especially Saudi Arabia, continue to be "one of the most significant sources of illicit financing for terrorism," said Matthew Levitt, a former Treasury Department terrorism expert now with The Washington Institute for Near East Policy.

http://apnews.myway.com/article/20081016/D93RP4781.html
 
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