SOURCES OF BIN LADEN’S FUNDING
Osama bin Laden is believed to rely on three principal sources to finance his terrorist network and its activities:1. personal inheritances and investments;2. funding from Arab supporters of al Qaeda; and 3.charitable contributions from Islamic organizations.
Bin Laden is believed to have exhausted most of his own money, however, and is thus likely depending on the latter two sources.
1) Personal investments
Osama bin Laden is the son of a billionaire Saudi construction magnate with close ties to the country's royalty. Bin Laden inherited an estimated $250-300 million from his family in the early 1990s, which he has invested in a range of businesses or placed in bank accounts around the world.
According to the FBI, bin Laden manages a range of lawful businesses across North Africa, Middle East, Europe and Asia. While in Sudan between 1991 and 1996, he reaped profits from a holding company called Wadi al Aqiq, which acted as an umbrella for a number of businesses.
He is linked to agriculture, construction, transportation and investment firms in Sudan.
The Islamic Cultural Institute in Milan is considered the nucleus of the al Qaeda network in Europe. The institute is believed to have had direct involvement in the bombing of U.S. embassies in 1998. Sources say a company named Arketa in Cyprus also helped launder money for bin Laden by moving funds between its subsidiaries and foreign banks it used.
In addition it provides cover for movements of soldiers and funds, and procurement of weapons and chemicals within the al Qaeda network.
Furthermore, bin Laden is believed to own investments in Mauritius, Singapore, Malaysia, the Philippines, and possibly Panama. He holds bank accounts in Hong Kong, Malaysia, Vienna, Dubai and London. Hundreds of millions of dollars are secured in real estate in Paris and London.
2) Arab supporters
According to reliable sources, about $16 million is funneled every year from the Arab world to bin Laden's terrorist network. Most of the amount, however, is believed to be illegal support from wealthy Arabs in Saudi Arabia — some of whom were probably blackmailed — who either sympathize with bin Laden's cause or seek protection from terrorist activities in their countries.
3) Charity organizations
Islamic charities collect billions of dollars a year, and much of it is used for the generous causes the charities openly support.
Some of the donations, however, are secretly handed over to Islamic terrorists and fighters by sympathizers.
Gulf Arab governments' abilities to investigate the activities of charity organizations are often held back not only because they must respect members' religious sensibilities, but also because most of these charities are lawful and often well respected.
U.S. authorities have maintained a secret list of suspect charity organizations around the world, but have been reluctant to make it public due to the sensitivities involved.
Osama bin Laden is believed to rely on three principal sources to finance his terrorist network and its activities:1. personal inheritances and investments;2. funding from Arab supporters of al Qaeda; and 3.charitable contributions from Islamic organizations.
Bin Laden is believed to have exhausted most of his own money, however, and is thus likely depending on the latter two sources.
1) Personal investments
Osama bin Laden is the son of a billionaire Saudi construction magnate with close ties to the country's royalty. Bin Laden inherited an estimated $250-300 million from his family in the early 1990s, which he has invested in a range of businesses or placed in bank accounts around the world.
According to the FBI, bin Laden manages a range of lawful businesses across North Africa, Middle East, Europe and Asia. While in Sudan between 1991 and 1996, he reaped profits from a holding company called Wadi al Aqiq, which acted as an umbrella for a number of businesses.
He is linked to agriculture, construction, transportation and investment firms in Sudan.
The Islamic Cultural Institute in Milan is considered the nucleus of the al Qaeda network in Europe. The institute is believed to have had direct involvement in the bombing of U.S. embassies in 1998. Sources say a company named Arketa in Cyprus also helped launder money for bin Laden by moving funds between its subsidiaries and foreign banks it used.
In addition it provides cover for movements of soldiers and funds, and procurement of weapons and chemicals within the al Qaeda network.
Furthermore, bin Laden is believed to own investments in Mauritius, Singapore, Malaysia, the Philippines, and possibly Panama. He holds bank accounts in Hong Kong, Malaysia, Vienna, Dubai and London. Hundreds of millions of dollars are secured in real estate in Paris and London.
2) Arab supporters
According to reliable sources, about $16 million is funneled every year from the Arab world to bin Laden's terrorist network. Most of the amount, however, is believed to be illegal support from wealthy Arabs in Saudi Arabia — some of whom were probably blackmailed — who either sympathize with bin Laden's cause or seek protection from terrorist activities in their countries.
3) Charity organizations
Islamic charities collect billions of dollars a year, and much of it is used for the generous causes the charities openly support.
Some of the donations, however, are secretly handed over to Islamic terrorists and fighters by sympathizers.
Gulf Arab governments' abilities to investigate the activities of charity organizations are often held back not only because they must respect members' religious sensibilities, but also because most of these charities are lawful and often well respected.
U.S. authorities have maintained a secret list of suspect charity organizations around the world, but have been reluctant to make it public due to the sensitivities involved.