New Delhi, September 17
Despite the noise made internationally to block Al-Qaida’s access to money, the shocking fact is that Osama bin Laden’s outfit is still commanding huge funds (up to $ 300 million), thus putting it in a position to finance future terrorist attacks.

Disclosing this disturbing fact, a draft United Nations report says Al Qaida’s financial backers in North Africa, West Asia and Asia manage at least $30 million in investments for the group, with some estimates going as high as $300 million.

The money reportedly includes investments from Mauritius, Singapore, Malaysia, the Philippines and Panama.

The Al-Qaida is also suspected of having bank accounts under the names of unidentified intermediaries in Dubai, Hong Kong, London, Malaysia and Vienna.

Besides, private donations to the group, estimated at $ 16 million a year, are believed to “continue, largely unabated,” says the 43-page draft report of the Monitoring Group on the Al-Qaida which is expected to be released shortly.

The Al-Qaida continues to draw on funds from the personal inheritance of Osama bin Laden, the Saudi-born militant who heads the network, as well as from investments and money diverted or embezzled from charitable organisations.

In the months immediately after the September 11 attacks, the USA and other UN members moved to shut down Al-Qaida’s financial network, freezing more than $112 million in assets belonging to suspected members and supporters of the organisation.

US President George W. Bush announced the freezing of assets of dozens of organisations and individuals linked to the Al-Qaida and US diplomats harnessed the authority of the UN Security Council behind the effort. The UNSC adopted a resolution requiring the UN’s then 189 members (now 190) to seize the assets of individuals placed on a UN list of suspected associates of the Al-Qaida.