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The beast now using the hawala system to funnel money.

The Enemy Beast, Al Qaeda, has adapted to post–9/11 attacks on its funding sources by now primarily using the hawala system, an Islamic banking network that uses profit sharing instead of interest, with few provisions for tracking illicit transfers, to funnel money around the globe. (*)

It is time to demand transparency reforms of the hawala system so money can be tracked through it.

This entry was posted on Saturday, November 1st, 2003 at 13:37 and is filed under Global War on Terrorism. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “The beast now using the hawala system to funnel money.”

  1. The Commissar Says:
    November 1st, 2003 at 13:40

    The hawala system is lots of small guys, operating on trust and personal relationships (with each other, not necessarily with the money senders), and without paperwork.

    Very tough to impose regulations like we do on commercial banks.