Al Emaar International Bank Formed by Saleh Kamel

MANAMA, DECEMBER 2 (BNA) --

HEAD OF THE BOARD OF DIRECTORS OF THE ISLAMIC CHAMBER OF INDUSTRY AND COMMERCE SHAIKH SALEH KAMEL HAS ANNOUNCED THAT THE CHAMBER HAS DECIDED THE SET UP AL EMAAR INTERNATIONAL BANK IN BAHRAIN WITH A CAPITAL OF USD ONE BILLION AND THAT THE CHAMBER HAD OBTAINED THE PRIMARY AUTHORISATION FROM THE BAHRAIN CENTRAL BANK.

IN A REPORT PUBLISHED IN BAHRAINI DAILY 'AL AYAM' TODAY, KAMEL SAID THE BANK WILL BE OFFICIALLY INAUGURATED IN THE FIRST HALF OF 2008.

HE SAID THAT THE PROJECT AIMED AT

• ENCOURAGING BANKING COOPERATION
• EASE CAPITAL FLOW AMONG THE ORGANISATION OF THE ISLAMIC CONFERENCE (OIC) COUNTRIES
• INCREASING INVESTMENTS IN VARIOUS SECTORS SUCH AS TOURISM, LABOUR AND COMMERCIAL EXCHANGE.
• HE SAID THE CHAMBER WAS SEEKING TO INCREASE THE GDP OF THE OIC MEMBERS THROUGH THIS PROJECT.

AS FOR SELECTING BAHRAIN AS THE HEADQUARTERS OF THE BANK, KAMEL SAID ATTRIBUTED IT TO THE STATUS ENJOYED BY BAHRAIN IN THE ISLAMIC BANKING SECTOR.

HE SAID THE CHAMBER INTENDED TO SET UP FOUR LARGE COMPANIES IN THE:

• FINANCIAL
• TOURISM
• TRAINING
• CONSIDER INVESTMENT OPPORTUNITIES IN A NUMBER OF OIC COUNTRIES.

THE PURPOSE WAS TO DEVELOP THEIR ECONOMIC, COMMERCIAL AND TOURISM ABILITIES BY IMPROVING THE HUMAN CAPITAL, STRENGTHEN EDUCATION AND TRAINING LEVELS AND FULFIL THE NEEDS OF THOSE OIC COUNTRIES WHERE THE COMMERCIAL EXCHANGE DID NOT EXCEED 13 PER CENT OF THE AMOUNT OF THEIR GLOBAL COMMERCE, AND 3 PER CENT IF WE EXCLUDE OIL EXPORTS.

JNQ//BS 02-DEC-2007 10:49

Al -Shabaab Preparing for Attacks in Bakool near Ethiopia

30 November 2007
Posted to the web 3 December 2007

The governor of a region in southwestern Somalia said on Friday that Al-Shabaab militants are organizing themselves and preparing for attacks on government targets in his region.

Mohamed Abdi "Tall," the governor Bakool region adjacent to the Ethiopian border, said intelligence reports have indicated that well-armed guerrilla fighters are regrouping in Abalow village, a remote area etched between Bakool and Bay regions.

Senior Islamic Courts defense officials are among the fighters being organized in the village, according to the governor.

The governor's claim could not be independently verified.

Unconfirmed reports said the Islamists' former deputy defense chief,
Mukhtaar Abu Mansur Robow, was among guerrillas reported to be in Bakool region.

Abu Mansur is now spokesman for the Al-Shabaab fighters, the military wing of the Islamic Courts movement that began a bloody insurgency in January after Ethiopian troops backing the interim Somali government captured the capital, Mogadishu.

Bakool Governor Mohamed Tall said his weak administration lacks the resources to challenge the Al-Shabaab fighters and expel them from the region.
Mukhtaar Abu Mansur Robow

Military sources in Baidoa tell Garowe Online that extra Somali and Ethiopian troops have been stationed at new locations throughout Bay region, a precaution aimed at disrupting the insurgents' logistics.

The Rest Garlowe online via allAfrica.com

Mali-600 kilos Cocaine

From IRIN, first published 5 July 2007

Mali-Niger

Two big drug busts of more than 600 kilos of cocaine in Mauritanian and Niger in recent weeks show authorities can stem some of the flow, but U.N. officials say a far greater volume of narcotics is getting through. -May 26, 2007 alertnet

Guinnea Bissau

• The biggest happened in September [2006], when police found 674 kg of cocaine.
• A second bust of another 600 kg came in the spring [2007].
• In April, authorities in Burkina Faso intercepted 49 kg of cocaine on the border with Mali. In May, Mauritanian authorities discovered 630 kg of cocaine in an abandoned aeroplane near the airport in Nouadhibou, 500 km north of the capital Nouakchott.
  

Mauritania

• The smuggling into Mauritania of a previous batch of more than 600 kilograms of cocaine seized after a small plane made an emergency landing at the northern port of Noudhibou in May, 2007], led to a discover of 1,896 lbs (860 kilograms) of cocaine on 14 August in NOUAKCHOTT (Mauritania), were found hidden beneath sacks of rice in a parked minibus.

Dominique Lebleux published this report (Article is in French) in September, 2007, which gives a detailed analysis of European Drub Busts of traveling Africans, in 2007, including this:

January 2007: - Flight Bamako (Mali)-Amsterdam (Belgium).

• Three [aleged] Nigerians were stopped at the airport of Casablanca (Morocco).
• Alltogether they transported altogether 4.5 kg of drugs in the form of a 209 capsules ingested.

The Libyan Islamic Fighting Group, or LIFG Joins Al qaeda

There is apparaently a new al Qaeda Franchise in Libya.

Ayman al-Zawahiri

• On November 3, 2007, a new video from al-Qaeda media production house as-Sahab was circulated on jihadi forums.
• Entitled “Unity of the Ranks,” the video featured senior al-Qaeda leaders Ayman al-Zawahiri and Abu Laith al-Libi.
• This video marked the announcement of the long anticipated merger between al-Qaeda and al-Jama’a al-Islamiyya al-Muqatila (The Libyan Islamic Fighting Group, or LIFG).

Source: Jamestown Foundation

Al Qaeda Giving up on AQIM for LIFG?

Al Qaeda, which must surly be frustrated with the failure of AQIM to acheive any real objectives. It seems to be courting al-Jama’a al-Islamiyya al-Muqatila (The Libyan Islamic Fighting Group, or LIFG) to take over its North-West Africa Campaign. Are Both of these Groups going to fight like brothers to see which is their Father's favorite? This may be exactly what al-Zawahiri, Abu Laith al-Libi have in mind....

-Shimron

Bank Mellat Statement about Being on OFAC Sanctions List - and Comments

Bank Mellat in Iran has issued a statement about it being on the US Treasury Department's Office of Foregin Asset Control list, prohibiting any US Company from doing business with the Bank directly or indirectly. Bellow is the statement, as quoted by World - Check. My comments are in Red.

-Shimron

• The statement of Bank Mellat on the illegal and baseless economic sanctions imposed by US is as below:
  
• There is no justification in international law for economic sanctions on financial institutions and banks for political reasons, and sanctions should not be used for the purpose of superimposing political aims or exert illegal pressure on other financial entities. It is US Pressure impacting US Business, but other countries may be impacted
  
• Bank Mellat strongly insists that its operation is and always has been limited to mere economic activities and there has never been a single example of the involvement of the Bank in any illegal activity. Except the Iranian Nuclear Program and support of Revolutionary Guard and Kuds financial transiactions supporting Iraqi and Hezbollah terrorist activities.
• Since international financial and banking markets are quite sensitive to any signal and accusation, imposition of false allegations will endanger worldwide economy and international business. We hope so.
  
• Bank Mellat has been engaged in a wide range of banking activities, such as banking operations in the name and on behalf of people of Iran, for various activities like opening and holding current and deposit accounts, providing banking and financing services for people's daily banking services, offering mortgages and housing facilities, as well as other commercial banking services inside and outside the country. We are glad they do some good things, too.
• one of the leading banks of Iran, Bank Mellat, through the years, has successfully and fully satisfied its customers and domestic and foreign regulators in all its overseas branches and subsidiaries. Probably true, but how deep do regulators check into Iranian government accounts?
• The recent allegations made by the USA against Bank Mellat has absolutely no justification and legal ground, and is simply based on illegal and baseless accusations. It is certainly contrary to international law, thus should have no value and effect. It Interesting that they do not site any real laws the sactions violate.
• Therefore, bank Mellat expects all international banks, and financial institutions and organisations particularly WTO, IMF, World Bank group, IFC as well as all other monetary, financial and commercial institution(s) not to permit any government to undermine internationally recognised principles for the purpose of gaining political advantages. Sounds like a threat to us...
• Ultimately, Bank Mellat reserves its rights, without prejudice to any of its other rights and privileges, to take any legal action against the current US administration and other concerned USA authorities in and and all domestic and international jurisdictions or organisations, particularly those of financial and monetary institutions, for any losses or damages as may be inflicted on the Bank, on the grounds of libel and defamation, on its personnel, branches, subsidiaries, affiliates and customers, directly or indirectly, by this irresponsible conduct. Yes, definately a threat...

Bank Mellat 20 October, 2007

62 Adults, 3 children drown trying to immigrate from Somalia to Yemen

About 65 would-be migrants die off Yemen coast


ADEN, Nov 22 (Reuters) - Sixty-five people including three children drowned in the Gulf of Aden while trying to cross from Somalia to Yemen, official Yemeni media said on Thursday.
About 15 others swam to safety after a vessel carrying the migrants sank close to the southeast coast of the Arabian Peninsula country, said the Saba news agency, adding that the survivors were Somali nationals.

The Yemeni navy and fishermen pulled 50 bodies from the sea while 15 bodies were found on the beach.

The Rest @ Reuters Africa