Arab Bank Major Supporter of Terrorism
Charles Johnson
Thu Apr 21, 2005 at 3:30 pm PDT • Views: 320
The tiny minority of extremist Muslims apparently had the Arab world’s largest bank on their side: Arab Bank funded Hamas, al-Qaida. (Hat tip: LGF readers.)
The New York branch of the Arab Bank was instrumental in financing Hamas, Al-Qaida and dozens of other terrorist groups, and some of those transactions were also handled by banks in the United States and Israel, according to a report in Wednesday’s Wall Street Journal.
Arab Bank funneled more than $20 million to and from terrorist groups and charities affiliated with terrorist groups, including payments to the families of Palestinian suicide bombers who perpetrated attacks in Israel, the report said. The bank now may be subject to criminal charges for not disclosing to the US government suspicious transactions that resulted in the financing of terrorists.
Arab Bank already is the subject of a lawsuit by US and Israeli victims of terrorist attacks, who are seeking more than $1 billion in damages, and it is the subject of a criminal investigation by the US Justice Department. In February, the bank agreed to stop accepting deposits at its US branch.
Officials at the bank’s headquarters in Amman said they were not aware of the money transfers among the terrorist financiers and would have put a stop to them had they known.
Please.
Frank says: