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Sharia Banks That Fund Terrorism

Sharia Banks That Fund Terrorism

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Published by Vienna1683

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Published by: Vienna1683 on Jan 08, 2013
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Sharia banks that fund terrorism
January 7, 2013
The relationship is simple. Jihadists know they can trust sharia-compliant banks to maintaintheir anonymity, not ask too many questions, and facilitate high-dollar transactions on behalf of their terrorist groups. Some Islamic financial institutions, such as National Commercial Bank andIslami Bank Bangladesh, have taken the relationship a step farther by donating a portion of their
bank profits in the form of zakat as an act of corporate “charity” to terrorist organizations, or in
the case of Al Rajhi, through private zakat donations of leading bankers. Saudi Arabiaand Iran are key bases for these activities, but this is a global phenomenon.
s short list of the worst offenders:
 Al Rajhi Bank: The Saudi financial institution has served as the sharia bank of choice for the
world’s jihadists, including East Africa embassy bomber Mamduh Mahmud Salim, Al Qaeda leader
Ayman al-Zawahiri, and organizations like Indonesian Kompak and Al-Haramain. Bank co-founderSulaiman Al-Rajhi appeared on the infamous Golden Chain document of Al Qaeda financiers. These allegations were reinforced by the recent U.S. Senate investigation into 
correspondent relationships. Al Shamal Islamic Bank: Osama Bin Laden co-founded the Al Shamal in Sudan and invested $50 million there. During the 1990s and early 2000s, Al Qaeda distributed money to itscells through Al Shamal. Funds passed through Al Shamal were used in preparation for terrorist attacks.National Commercial Bank:
Offering conventional and sharia banking services, Saudi Arabia’s
self-described first, largest, and most prominent bank is NCB. Among other misdeeds, a Saudi audit revealed that NCB transferred $74 million in the 1990s as zakat through its charitable frontorganizations to Al Qaeda (see here, here,and here). Khalid bin Mahfouz, the head of the

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