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Sunday, June 24, 2007

Sanctioned Nasreddin Companies

NASREDDIN GROUP INTERNATIONAL HOLDING LIMITED,
(a.k.a. NASREDDIN GKOUP INTERNATIONAL HOLDINGS LIMITED);
C/o Arthur D. Hanna & Company; 10 Deveaux Street, Nassau, Bahamas;
P.O. Box N-4877, Nassau, Bahamas.

15. NASCO NASREDDIN HOLDING A.S.,
Zemin Kat, 219 Demirhane Caddesi, Zeytinburnu, Istanbul ,Turkey.

16. NASCOTEX S.A.,
(a.k.a. INDUSTRIE GENERALE DE FILATURE ET TISSAGE);
(a.k.a. INDUSTRIE GENERALE DE TEXTILE);
KM 7 Route de Rabat, BP 285, Tangiers, Morocco;
KM 7 Route de Rabat, Tangiers, Morocco.

17. NASREDDIN FOUNDATION,
(a.k.a. NASREDDIN STIFTUNG);
C/o Rechta Treuhand-Anstalt, Vaduz, Liechtenstein.

NASCOSERVICE S.R.L.,
Corso Sempione 69, 20149 Milan, Italy;
Fiscal Code: 08557650150;
V.A.T. Number: IT 08557650150.

NASCO BUSINESS RESIDENCE CENTER SAS DI NASREDDIN AHMED IDRIS EC,
Corso Sempione 69, 20149 Milan, Italy;
Fiscal Code: 01406430155;
V.A.T. Number: IT 01406430155.

NASREDDIN COMPANY NASCO SAS DI AHMED IDRIS NASREDDIN EC,
Corso Sempione 69, 20149 Milan, Italy;
Fiscal Code: 03464040157;
V.A.T. Number: IT 03464040157.

NASREDDIN INTERNATIONAL GROUP LIMITED HOLDING,
(a.k.a. NASREDDIN INTERNATIONAL GROUP LTD. HOLDING);
C/o Rechta Treuhand-Anstalt, Vaduz, Liechtenstein;
Corso Sempione 69, 20149, Milan. Italy.


(Waht follows is from from 2002 UN Report. These assets have been frozen or restructured,or are still operating somewhere)

II. Nada/Nasreddin Network
Based on information available to Italy and the United States, Youssef Nada ("Nada") and Ahmed Idris Nasreddin ("Nasreddin"), through commercial holdings, operate an extensive financial network providing support for terrorist related activities. In the case of Nada and Nasreddin, this involves an extensive conglomeration of businesses from which they derive their income or through which they conduct transactions. Based on evidence of their support of terrorism, Nada and Nasreddin were previously designated by the international community as financiers of terror. Nada was designated by the United States on November 7, 2001, and by the United Nations on November 9, 2001. Nasreddin was designated by the G7 on April 19, 2002, and by the United Nations on April 24, 2002. Nasreddin's corporate holdings and financial network provide direct support for Nada and Bank Al Taqwa, which was also previously designated by the United States on November 7, 2001, and the United Nations on November 9, 2001. This designation of fourteen additional entities owned or controlled by either Nada or Nasreddin will further restrict their assets and their network by precluding these companies from being used to provide funding or support for terrorism.
Nasreddin and Nada, who have worked closely together for many years, are both directors of Bank Al Taqwa and Akida Bank. Nada holds a controlling interest in Bank Al Taqwa and Nasreddin holds a controlling interest in Akida Bank. Bank Al Taqwa and Akida Bank are not functional banking institutions in the conventional sense. They are shell companies lacking a physical presence and sharing the same address in the Bahamas where they were licensed. For this reason the licenses of Bank Al Taqwa and Akida Bank have been revoked by the Bahamian government.
Bank Al Taqwa, for which Nasreddin is a director, was established in 1988 with significant backing from the Muslim Brotherhood. They have been involved in financing radical groups such as the Palestinian Hamas, Algeria's Islamic Salvation Front and Armed Islamic Group, Tunisia's An-Nahda, and Usama bin Laden and his al-Qaida organization. Bank Al Taqwa was established in the Bahamas and is a close affiliate of the Al Taqwa Management Organization, which changed its name in the spring of 2000 to the Nada Management Organization. In 1997, it was reported that the $60 million collected annually for Hamas was moved to Bank Al Taqwa accounts. As of October 2000, Bank Al Taqwa appeared to be providing a clandestine line of credit to a close associate of Usama bin Laden and as of late September 2001, Usama bin Laden and his al-Qaida organization received financial assistance from Youssef M. Nada.
Nada and Nasreddin own or control a number of business entities through direct ownership, control, or in cooperation with each other. Fourteen of these entities are being designated in furtherance of the prior designations of these two individuals to disrupt their use of assets under their ownership or control that could be used to finance terrorist activities.




  • NASREDDIN GROUP INTERNATIONAL HOLDING LTD.
  • NASCO NASREDDIN HOLDING A.S.; NASCOTEX S.A.; NASREDDIN FOUNDATION;
  • BA TAQWA FOR COMMERCE AND REAL ESTATE COMPANY LTD.
  • NASCOSERVICE S.R.L.;
  • NASCO BUSINESS RESIDENCE CENTER SAS DI NASREDDIN AHMED IDRIS EC; NASREDDIN COMPANY
  • NASCO SAS DI
  • AHMED IDRIS NASSNEDDIN EC;
  • NADA INTERNATIONAL ANSTALT;
    NASREDDIN INTERNATIONAL GROUP LIMITED HOLDING
  • THE AID ORGANIZATION OF THE ULEMA
  • AHMED IDRIS NASREDDIN
  • YOUSSEF NADA
  • ABDELKADIR MAHMOUD ES SAYED;

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