AMAZING BUT TRUE: AL QAEDA BANK IN NEW YORK

 MOUNTING EVIDENCE THAT ARAB BANK PLC HAS TIES TO TERRORISM

 WEINER: SHUT IT DOWN

New York City – Today, Rep. Anthony Weiner (D-Queens & Brooklyn), a member of the House Subcommittee on Crime, Terrorism, and Homeland Security, urged the Department of the Treasury to expel the midtown branch of Arab Bank PLC from the United States.  Arab Bank has well-documented ties to terror.

The Arab Bank PLC is a Jordanian bank, largely controlled by Palestinians. Its single branch in the United States is located in midtown.

Arab Bank’s ties to terrorism are well documented:

40 to 60 customers of Arab Bank are suspected of having ties to al Qaeda, Hamas, and Hezbollah. [source: NBC News, 5/10/05]

Several jihadist fundraising websites direct prospective donors to send contributions to accounts at the Arab Bank. [source: Washington Times, 5/4/05]

Arab Bank sent roughly $3 million to the Palestinian territories in 170 transactions for the Holy Land Foundation, a front for Hamas.  [source: Wall Street Journal, 4/20/05]

The Global Relief Foundation, which Treasury officials say supports al Qaeda, sent $650,000 in 24 transactions to the Arab Bank. [Wall Street Journal, 4/20/05]

The father of suicide bomber Rami Ghanem received $14,000 from an Arab Bank account a few weeks after he blew up the London Café in Netanya, seriously wounding 35. [source: Wall Street Journal, 4/20/05]

The family of suicide bomber Issadim al-Masri received $140 a month in an Arab Bank account after al-Masri blew up a Sbarro in Jerusalem, killing 15, including pregnant American school teacher Shoshana Greenbaum.  The figure jumped to $6,000 after Israelis leveled their house. [source: NBC News, 5/10/05]

There are currently three federal law suits pending against Arab Bank, filed by victims of Middle Eastern terror.

The Arab Bank has repeatedly saved the Palestinian Authority from bankruptcy by providing bridge loans when revenues ran short. [source: Wall Street Journal, 4/20/05]

In February, the United States Comptroller of the Currency signed a “consent decree” with Arab Bank that requires the Bank to cease engaging in all fund transfer activities, not open any new deposit accounts, not destroy, alter, or remove” any documents from the premises”, report their activities to the Office of the Comptroller of the Currency’s deputy comptroller every day, and, to ensure the plaintiffs in the lawsuits can collect damages, maintain $420 million in assets in it’s New York branch.   

Today Rep. Weiner, joined by Jewish advocates, called for more substantial steps.

First, Weiner urged the Comptroller of the Currency to require the Arab Bank to keep reserves in its New York branch sufficient to compensate those suing the bank in civil litigation.

Second, Weiner demanded that Arab Bank settle the cases with both Israeli and American victims of terror.

Third, Weiner called on the Treasury Department to make public all of their records of Arab Bank activities.

Fourth, Weiner urged the Comptroller of the Currency to expel the bank from the United States.

“Any bank that funds terrorism against Israel has no business doing business anywhere in the United States or New York City,” said Rep. Weiner.  “The Arab Bank has proven itself to be a terror bank.  We should shut it down, and expel it from the United States.”