Arab Bank Helped Saudi Charity Pay Bomber Families, Suit Says
A Saudi charity that has collected more than $100 million for Palestinians made payments to the relatives of suicide bombers through Arab Bank Plc, which has a branch on New York’s Madison Avenue, according to a lawsuit.
The Saudi Committee in Support of the Intifada Al-Quds paid $5,316 to relatives of Izz Ad-Din al-Masri, who killed himself and 15 others at a Sbarro Inc. pizzeria in Jerusalem on Aug. 9, 2001, according to the complaint by the families of U.S. citizens slain by Palestinian terrorists. Payments to the families of five other bombers and gunmen are also on the group’s Web site, according to the Jan. 21 filing in federal court in Brooklyn.
Amman, Jordan-based Arab Bank knew the payments were designed to encourage terrorism, according to the civil complaint, which seeks $2 billion. The lawsuit follows a similar action filed in July and contains more details about the payments. The bank called the allegations in the first suit "unfair and untrue."’
Source: [Bloomberg]
I don’t know if these allegations have even a smidgen of truth to them, but regardless, I thought I’d vent a bit about what really annoyed me about Arab Bank during the three years I had an account there. I could not stand their run-down, dirty, smoking-friendly branches! They didn’t appear willing to invest even a little of those big dollars they’ve got in the branches. They didn’t seem to care at all about providing customers with a more comfortable environment. Unlike many banks in Jordan that are constantly refurbishing and improving their offices, Arab Bank branches always seemed to be at a standstill. Grrrrr!
Just to clarify that – Israel heavily funded Hamas as a local threat to Arafat’s Fatah, which was the real danger in the 70s and 80s.
Like I always said… Hamas has Israel to thank for its early years.
Isam,
I don’t think bombing a pizzeria and killing 15 people helps the Palestinian cause. As a result I won’t be thrilled if I know that my bank was supporting these acts. And of course, at the same time I would be furious if my US bank supported the IDF! Actually, I won’t be happy if my bank supports any political cause. I wish they would just stick to business!
It is support for a cause in the US too, just a cause that the state frowns on supporting.
It is interesting that they say the bank knew it was designed to encourage terrorism, because in general I don’t think you can expect a bank to research the recipient of every $5K wire. I wonder what their support for that is.
Would it be different if they were donating money to the families of the 9-11 terrorists?
Sami, what may be considered a crime and allegation in USA, is support for a cause in Jordan. There are 2 perspectives here.
This is not the point. We are not talking about their service performance. We were talking about whether the allegations are right or wrong.
The flipside of the coin….even though I bank at one of these:
http://www.adc.org/index.php?id=2394
This topic really touched a nerve with me. I absolutely abhor the banks in Jordan. Simply put, the are very unorganized, unprofessional, have many workers who have no idea what they are doing, and are not customer friendly.
I have read about how much these banks make from us depositing our money with them…it is outragious when you think of the service you get in return. Most of the workers are lazy, have no idea how to do things without the manager coming to help them, there is no organization, getting charged outragious amounts to cash traveller’s checks, and extremely poor service. Simple things as depositing and W/D take way too much time. Customers must sign this and then sign that….Bank Rep: “I’ll be right back, I have to check with the manager.”, “Sir, the signatures don’t match so this is not you”….”Yes, I can see that your ID identify’s you…but since your signatures don’t match we cannot help you.”, “Sir you opened your money at the Amman branch, and you have to go there to modify your account….Yes we are the same bank.”, “We don’t allow you to withdraw US dollars here even though you can deposit them here”
I really dread going into any bank there. Cairo-Amman is the worst. The Housing Bank is better in some locations…but not by much. Wherever you do you banking, you bascially have to yell, bite, push, shove and fight your way to the teller window.
Should I expect the bank to go bankrupt soon after you two have closed your accounts. By the way, what does the Arab bank give as an interest on long term investments ! Maybe it does not have to go bankrupt anymore ! (just kidding folks ! )
2 days ago, I was asked by the company I work for to open an Account there. I totally refused, asking them to have my salary transfered to my existing account in another bank, and I am willing to take any delay or comissions related to it. Last thing I ever want is to have to deal regularly with the Arab Bank. They have this “Take it or leave it” and “Take-your-money-and-go” toward thier clients which I really can’t stand.