Columbia International Affairs Online: Policy Briefs

CIAO DATE: 07/2009

Financial Setbacks for Hamas

Matthew Levitt

December 2008

The Washington Institute for Near East Policy

Abstract

Over the past few weeks, Hamas's international financial support network suffered a series of setbacks, most notably the U.S. federal court conviction of the Holy Land Foundation for Relief and Development (HLF) and five of its leaders on charges of providing material support to Hamas. Despite these convictions and the broad sanctions in place against Hamas, however, the group remains capable of raising substantial funds, through both traditional and innovative means.