At least $50 million has been paid to the Al-Qaeda-affiliated jihadist group Jama’at Nasr al-Islam wal Muslimin (JNIM) for the release of a UAE royal family member abducted near Bamako, along with a Pakistani and an Iranian associate. The hostages, all involved in the gold trade, were freed in late October after months of negotiations.
JNIM, a key part of Al-Qaeda’s West African network, has been aggressively targeting foreign interests while attempting to enforce Sharia law in Mali under a strategy it calls “economic jihad,” relying heavily on ransom payments and control of fuel supplies. In June 2025, the group warned it would attack any foreign company or factory operating in Mali without its consent, a threat it has since carried out through attacks on oil tankers, mines, and factories, alongside a sharp rise in foreign abductions.
Global conflict-monitoring group ACLED reports that at least 22 foreigners were abducted between May and October 2025, nearly double the 13 recorded in 2022. Victims have included Chinese, Indian, Egyptian, Emirati, Iranian, Serbian, Croatian, and Bosnian nationals.
The September 26 kidnapping near Bamako is now considered the largest known ransom in the region. Security sources say initial negotiations demanded proof of life and an initial payment of 40 million CFA francs (over $700,000), but the deal ultimately settled at $50 million. The ransom also secured the release of roughly 30 JNIM prisoners held by Malian intelligence, along with several Malian military personnel.
Analysts say the payout provides a significant financial boost to JNIM, strengthening Al-Qaeda’s operational reach in West Africa and underscoring the persistent threat to foreign nationals and commercial operations in the region.
