Fantastic news. Several more swines in the ground.
Israel and America must cut off Hamas from its current sources of funding for luxury and terror. Hamas runs the Gaza Strip and its terror operations with an estimated annual budget of $2.5 billion. The best way for Israel to destroy Hamas is attacking its financial sources.
It is well known that Hamas has several sources of funding, including a number of international donors. The Islamic Republic provides Gaza with equipment and know-how, including training. It also sends Hamas an estimated $100-$150 million a year. According to its own statements, Iran has given Hamas billions of dollars and paid for ‘every single weapon’. The terrorist group also obtains funds from Qatar through indirect channels, even though the emirate insists that it only pays the salaries of administrative officials in the Gaza Strip. Foreign support groups such as the German Samidoun, which has only now been banned, also transfer terrorist aid to the Middle East disguised as donations.
The terrorist group invests part of the Iranian, Qatari and private donations in economic sectors that generate profits. The US Treasury Department refers to a ‘global investment portfolio’ worth more than US$500 million, generating for the terrorist organization annual profits of tens of millions of dollars, which were used for its terrorist activity.
In August 2021, the newspaper
Die Welt, owned by the German media group Axel Springer Verlag, reported for the first time on secret documents detailing Hamas' network of companies and investment income. The portfolio comprised around 40 companies. They were based in Algeria, Saudi Arabia, Sudan, Turkey and the United Arab Emirates and were mainly active in the construction sector. In early 2018, Hamas stated in its own documents that the book value of the portfolio was 338 million US dollars. When it became public, the figures were said to have already exceeded half a billion dollars.
The sleek new building at Istanbul Commerce University offers stunning views of the Bosphorus. The almost 40,000-square-meter (430,000-square-foot) structure boasts advanced safety systems, its dark glass windows giving it a modern facade. The company that built it, Trend GYO, trades on Istanbul's stock market, but its official documents don't reveal its big secret, which is actually a well-known secret: it is owned by Hamas.
In Oct 2023, the US government added Amer Kamal Sharif Alshawa to its list of terrorist financiers, thereby personally targeting the managing director of Trend GYO, that was also listed in the secret documents. According to the official statement, the 59-year-old Jordanian is part of Hamas' investment network in Turkey and Algeria and sits on the executive and supervisory boards of several terrorist companies.
Since it is ruled by a hostile organization, Israel also assesses that a considerable part of the PA's payments to Gaza will be used to finance Hamas' military wing. According to the best estimates, the amount handed over by the PA is between $1 billion to $1.2 billion a year.
UNRWA's annual budget is $1.5 billion, and $325 million was earmarked for Gaza in 2023. Those funds are provided by numerous states and entities, headed by the European Union (20.4 percent on average in 2017-2023), the United States (12.3 percent), Sweden (9.4 percent), Japan (9.2 percent) and Germany (8.6 percent). Even assuming that all of this money is solely for the refugees' benefit and not one cent goes toward terror activity, these sums can be seen as part of the Gazan budget, because without them Hamas, as sovereign, would be expected to provide them.
How does overseas money reach Hamas? The short answer is through money-exchange networks worldwide and, of course, cryptocurrency. Currency exchanges normally work with banks, but the global banking system does not operate in the Gaza Strip. How do Hamas' money changers get around that? The answer is
hawala, an ancient system where money exchangers do not transfer money to each other, but instead calculate and offset continuously. According to intelligence sources, there are at least three Turkish banks that do business with Hamas currency exchangers: Turk Kuveyt, a Kuwaiti owned bank operating from Turkey; QNB Finansbank, a Turkish bank owned by Qatar; and the Turkish state-owned Halkbank.