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Moorish Granada was an incredibly wealthy city even in its final years, and Muhammad XII "Boabdil" of Granada remained very rich when he went into exile in Morocco, building a palace in Fez. And Christopher Columbus's request had already been declined by Genoa, Venice, England, Portugal, and France over a period of 7 years.
What if Ferdinand and Isabella turned him down, so Columbus converts to Islam and asks the Emir-in-exile to finance his western voyage to "India"?
Columbus seems opportunistic enough that he would easily convert to another religion if it suited him. Also, when Muhammad XII had originally succeeded to the throne of Granada, he invaded Castile despite the immense odds against him, for a chance at gaining some prestige. So I think he would be eager enough to accept Columbus's offer, hoping to become wealthy from the profits of trade with India.
What would result from a New World voyage by Morocco/financed by the emir of Granada?