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Islamophobia or an important weapon? An analysis of the US financial war on terrorism

Ryder, Nicholas; Turksen, Umut


Nicholas Ryder

Umut Turksen


This article considers the impact of the terrorist attacks of September 11, 2001 (9/11) on the legislative and policy response by the United States towards terrorist financing. This article is divided into three parts. Part 1 considers the alleged association between Islamic banking systems and terrorist finance. The second part of the article critically considers the ability of the US authorities to freeze the assets of organisations who are suspected of financing terrorism by virtue of Presidential Executive Order 13 224. The final part of the article considers the reporting requirements imposed by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act 2001 (USA PATRIOT Act 2001). The third part also highlights some provisions and practices that raise the spectre of racial profiling in the United States, and critiques the fairness and success of such measures imposed on particular group of persons. The objective is not to provide a comprehensive analysis of the laws and policies, but to emphasise areas that have not yet been subject to sufficient scrutiny from the perspective of success and equality of the application of the law.

Journal Article Type Article
Publication Date Sep 1, 2009
Journal Journal of Banking Regulation
Print ISSN 1745-6452
Publisher Palgrave Macmillan (part of Springer Nature)
Peer Reviewed Peer Reviewed
Volume 10
Pages 307-320
APA6 Citation Ryder, N., & Turksen, U. (2009). Islamophobia or an important weapon? An analysis of the US financial war on terrorism. Journal of Banking Regulation, 10, 307-320.
Keywords terrorist attacks, September 11, 2001 (9/11), United States, terrorist financing, Islamic banking, racial profiling
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