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Steven Emerson,
Executive Director
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January 6, 2016
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Britain's
Largest Bank Cuts Off Islamic Relief UK Over Alleged Terror Connections
by John Rossomando • Jan 6, 2016
at 4:59 pm
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Britain's largest bank, HSBC, no longer will do business with the
charity Islamic Relief UK due to worries over its alleged terror ties. The
Sunday Times of London reported last weekend that the banking giant decided to
cut off the Muslim charity a year ago, but the move went unreported until
now.
Islamic Relief UK receives millions of pounds from the British
Department of International Development, the Times reported. Israel
banned the charity from the West Bank in 2014, accusing it of laundering
money for Hamas. The Israel Ministry for Foreign Affairs designated the group's parent organization, Islamic
Relief Worldwide (IRW), as a terrorist front in 2006.
"The IRW provides support and assistance to Hamas's infrastructure.
The IRW's activities in Judea, Samaria and the Gaza Strip are carried out
by social welfare organizations controlled and staffed by Hamas operatives.
The intensive activities of these associations are designed to further
Hamas's ideology among the Palestinian population," Israel's Ministry
for Foreign Affairs wrote.
IRW also received a $50,000 check from Osama bin Laden in 1999
and received £60,000 – approximately $115,000 – from an Al-Qaida front group between 2003 and 2008.
The United Arab Emirates (UAE) blacklisted Islamic Relief in November 2014.
This is not the first time the bank has targeted an Islamic institution
accused of terror ties. HSBC ended its relationship with the Cordoba Foundation –
another group listed by the UAE as a terrorist group – headed by British Muslim Brotherhood leader Anas
Altakriti in July 2014.
The Guardian reported that UAE threatened to stop cooperating with
the U.K. if it did not take action against the Muslim Brotherhood, which it
labels a terrorist organization.
The Swiss bank UBS likewise closed Islamic Relief's accounts and barred donations
in 2012 over similar concerns.
Islamic Relief UK denies the terror claims.
"We were and remain extremely surprised at HSBC's stance," it said in a statement. "... Not supporting a
civilian population who happen to live in a warzone is inhumane and
unjustifiable. We believe the breadth and vagueness of counter-terrorism
regulation has created a fog of uncertainty for both banks and charities
that governments need to help us navigate our way through."
HSBC itself has faced scrutiny for abetting money-laundering activities.
U.S. Treasury officials ordered the bank to end its involvement with Iranian financial institutions
in 2012. That same month, Treasury officials ordered the bank to pay $1.9 billion in fines because it allowed Mexican
drug cartels to circulate hundreds of millions of dollars through accounts
in the U.S.
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