al Taqwa Bank

...... Switzerland's Secret Service has long maintained that the Geneva Islamic Center has been used to train terrorists from Algeria and Afghanistan.

The Islamic Center in Rue des Eaux Vives, Geneva contains a large mosque, a cultural center, a school and a lecture hall.

• In 1977, it was revealed that this mosque was funded by the Muslim World League. Following its official inauguration by Saudi King Kahled Bin Abdul Aziz, it now annually receives $5,066,130 from the Saudi establishment. It is now headed by Said Ramadan's son Hani, who in 2002 was fired as a public school teacher for defending the Sharia practice of stoning adulterous women to death.
  
  The Geneva center has been linked with the establishment of a Muslim Brotherhood bank, called the Al Taqwa bank, in 1988. This funded terrorist enterprises. According to a 2003 US Treasury report (p. 71): "Terrorist use of online banking services is facilitated in part by banks that have terrorist ties. For instance, Al-Taqwa Bank, founded by the Muslim Brotherhood in the Bahamas in 1988, maintained branches in


• Algeria,


• Liechtenstein,


• Italy, Malta,


• Panama


• Switzerland

and provided banking services to al-Qaeda and HAMAS until it was shut down by sanctions in the wake of September 11, 2001."

March 15, 2002

According to an unpublished list obtained by Salon, the Al Taqwa bank, part of a network of financial companies named by the Bush administration as a major source and distributor of funds for Osama bin Laden's terrorist operations, has shareholders that include prominent Arab figures from numerous countries in the Middle East.

• Among the shareholders are the grand mufti of the United Arab Emirates and prominent families in the UAE and Kuwait.


• Two sisters of Osama bin Laden are also on the list, undermining the bin Laden family's claim that it separated itself from his terrorist pursuits after he was expelled from Saudi Arabia in 1994.

The Rest @ Salon.com
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January 2002

In a January 2002 letter to Swiss authorities, a senior Treasury official privately spelled out the U.S. government’s case that the Bahamian bank—one arm of an international financial network known as Al-Taqwa (Arabic for “Fear of God”)—had a lengthy history of “financing and facilitating the activities of terrorists,” including providing millions of dollars in funding for Al Qaeda and Hamas.

The Treasury letter, and another one involving Saudi businessman
Yassin A. Kadi, provide a revealing new window into the murky world of terror finance—at least as viewed by U.S. counterterrorism officials. Based largely on secret intelligence sources, the Treasury documents attempt to show how Kadi and Al-Taqwa and its founder, Youssef M. Nada, used concealed bank accounts, complex land deals and other hard-to-trace methods to steer large sums of money to terrorists.


The Rest published on June 7th, 2007, @ Family Security Matters

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Ahmed Idris Nasreddin was a director at the Bank. The US froze most of his assets,
but MSNBC Reported in 2005 that he was operating in Nigeria under a company named NASCO. Here is their website.

According the MSNBC Report, Nasco Investment & Property Company Ltd. Is owned by the Family.
-Shimron

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According to the Secretary of the Commonwealth of Massachusetts, the following companies are susspected Terrorists organizations:

• Nasco Business Residence Center


• SAS di Nasreddin Ahmed Idris


• ECNasco Nasreddin Holding


• A.S.Nascoservice S.R.L.


• Nascotex S.A. (a.k.a. Industrie Generale de Filature et Tissage; a.k.a. Industrie Generale de Textile)


• Nasreddin Company Nasco SAS di Ahmed Idris Nasreddin


• ECNasreddin International Group Limited Holding (a.k.a. Nasreddin International Group Ltd. Holding)


• Nasreddin Foundation (a.k.a. Nasreddin Stiftung)


• Nasreddon Group International Holding Limited (a.k.a. Nasreddin Group International Holdings Limited)

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