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<\/a>The \u2018Zombie\u2019 Caliphate: While the World Celebrates the Muslim Brotherhood\u2019s Demise, Its Billion-Dollar Empire Thrives in Plain Sight<\/a><\/strong><\/span><\/span><\/h3>\nAmine Ayoub<\/strong><\/span><\/p>\n \u00b4 In Washington and Arab capitals, a comforting narrative has taken hold: The Muslim Brotherhood is finished. We are told that the Sisi regime in Egypt has crushed them, that Jordan has shuttered their offices, and that the \u201cIslamist Winter\u201d is finally over. The recent executive order by President Trump to review the group for terror designation is seen as the final nail in the coffin.<\/span><\/p>\n But if you look away from the empty political offices and follow the money, you will find a terrifying reality. The Muslim Brotherhood hasn\u2019t gone bankrupt; it has simply gone corporate.<\/span><\/p>\n While Western intelligence agencies applaud the closure of dusty headquarters in Amman, they are ignoring the \u20ac27 million mega-complexes rising in France, the \u20ac4 million real estate fortresses in Berlin, and the terror-linked holding companies trading openly on the Istanbul Stock Exchange. The Brotherhood has transformed from a mass movement into a transnational financial conglomerate \u2014 a \u201cZombie Caliphate\u201d that is legally bulletproof and wealthier than ever.<\/span><\/p>\n <\/b>The myth of the Brotherhood\u2019s destruction starts in Egypt. The regime\u2019s \u201cInventory Committee\u201d boasts of seizing assets worth a staggering 300 billion EGP (approx. $16.7 billion), and liquidating the schools, hospitals, and businesses that formed the movement\u2019s spine.<\/span><\/p>\n But the crackdown is porous. In July 2023, an Egyptian court quietly ordered the unfreezing of assets for 146 alleged Brotherhood figures, ruling that the state failed to prove the funds were illicit. This legal \u201coops\u201d likely allowed millions in liquid capital to flee the country, funneling straight into the offshore networks now appearing in Istanbul and London.<\/span><\/p>\n Then there is the case of Safwan Thabet, the tycoon behind Juhayna Food Industries. Arrested for refusing to hand over his empire to the state, he was released in 2023. His survival teaches a harsh lesson: the Brotherhood\u2019s money is so deeply integrated into the legitimate economy that the state cannot tear it out without killing the patient. The \u201cdeep state\u201d of Brotherhood finance remains alive, hiding behind the facade of legitimate dairy giants and retail chains.<\/span><\/p>\n <\/b>If Egypt is the extraction point, Turkey is the laundromat. Despite President Erdogan\u2019s desperate diplomatic pivot toward Cairo, Istanbul remains the operational heartbeat of this financial insurgency.<\/span><\/p>\n Western policymakers need to look closely at the Borsa Istanbul. There, trading openly under the ticker TDGYO, is Trend GYO \u2014 a real estate investment trust designated by the US Treasury Department for being 75% owned by Hamas. In a rational world, a NATO member would not host a publicly traded company that funds a designated terror group. In Erdogan\u2019s Turkey, however, Trend GYO continues to develop luxury apartments, such as the recent project in Istanbul\u2019s Alibeyk\u00f6y district, subcontracting construction to obscure local firms to wash the proceeds.<\/span><\/p>\n This is the new model: \u201cTerrorism Inc.\u201d Yemeni billionaire Hamid al-Ahmar, operating freely from Istanbul, chairs Investrade Portfoy, an investment firm that commingles legitimate business with funds allegedly destined for Hamas. Meanwhile, the Brotherhood\u2019s elite send their children to Al-Nahda International Schools in Istanbul \u2014 private institutions run by exiled cadres that ensure the next generation is indoctrinated in the ideology of the \u201cGroup\u201d while generating tuition revenue.<\/span><\/p>\n <\/b>As the environment in the Middle East becomes hostile, the Brotherhood has executed a strategic pivot to Europe, replacing \u201cliquid\u201d assets (cash) with \u201cfixed\u201d assets (real estate) protected by Western property laws.<\/span><\/p>\n In Austria, the failure of \u201cOperation Luxor\u201d serves as a cautionary tale. In 2020, police raided 60 Brotherhood-linked sites. The result? Zero terrorism convictions. Courts declared the raids unlawful. The Brotherhood didn\u2019t just survive; they lawyered up and won, proving that without a specific designation, European criminal law cannot work against them.<\/span><\/p>\n In Germany, the UK-based Europe Trust purchased a massive property in Berlin\u2019s Wedding district for \u20ac4 million. This isn\u2019t just a building; it is a command center for the Deutsche Muslimische Gemeinschaft (DMG), insulated from German intelligence by British corporate deeds.<\/span><\/p>\n In France, the situation is even more brazen. The Al-Noor Center in Mulhouse \u2014 a massive complex featuring a mosque, school, and swimming pool \u2014 was built at a cost of \u20ac27 million. Intelligence links it to Qatar Charity\u2019s \u201cGhaith Initiative,\u201d which has poured over \u20ac120 million into 140 such projects across Europe. These are not community centers; they are forward operating bases for a parallel society, subsidized by Doha and protected by European property rights.<\/span><\/p>\n The West is fighting a 21st-century financial empire with 20th-century police tactics. We raid homes in Vienna while they move crypto in Istanbul. We seize crumbling offices in Jordan while they buy prime real estate in Berlin.<\/span><\/p>\n The Muslim Brotherhood is not dead. It is alive, well, and trading on the Istanbul Stock Exchange. Until the US and its allies target the\u00a0enablers<\/i>\u00a0\u2014 the Turkish banks clearing Trend GYO transactions, the Qatari transfers to Mulhouse, and the shell companies in London \u2014 we are merely cutting the grass while the roots grow deeper.<\/span><\/p>\n Amine Ayoub<\/strong>, a fellow at the Middle East Forum, is a policy analyst and writer based in Morocco. Follow him on X:\u00a0<\/span>@amineayoubx<\/span><\/a><\/em><\/p>\n Zawarto\u015b\u0107 publikowanych artyku\u0142\u00f3w i materia\u0142\u00f3w nie reprezentuje pogl\u0105d\u00f3w ani opinii Reunion’68,<\/em> The \u2018Zombie\u2019 Caliphate: While the World Celebrates the Muslim Brotherhood\u2019s Demise, Its Billion-Dollar Empire Thrives in Plain Sight Amine Ayoub \u00b4Supporters of the Muslim Brotherhood in the Jordanian capital, Amman, chanting pro-Palestinian slogans in April 2018. Photo: Reuters \/ Muhammad Hamed. In Washington and Arab capitals, a comforting narrative has taken hold: The Muslim Brotherhood […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[33,24],"_links":{"self":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts\/127011"}],"collection":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127011"}],"version-history":[{"count":7,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts\/127011\/revisions"}],"predecessor-version":[{"id":127027,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=\/wp\/v2\/posts\/127011\/revisions\/127027"}],"wp:attachment":[{"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.reunion68.se\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n![](\"https:\/\/www.algemeiner.com\/wp-content\/uploads\/2019\/01\/muslimbrothers.jpg\")
Supporters of the Muslim Brotherhood in the Jordanian capital, Amman, chanting pro-Palestinian slogans in April 2018. Photo: Reuters \/ Muhammad Hamed.<\/span><\/em><\/p>\nThe Egyptian \u201cCatch-and-Release\u201d<\/b><\/h4>\n
Turkey: The NATO Safe Haven for Terror Finance<\/b><\/h4>\n
Europe: The \u201cConcrete\u201d Fortress<\/b><\/h4>\n
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