Arab Bank Plc in trial in the U.S. for financing Hamas
Arab Bank Plc ARBK.AM faces accusations that it provided material support to the Palestinian group Hamas. The bank will go under trial next week in New York making it the first financing case in the United States.
The Jordan-based bank was sued in 2004 from about 300 U.S. citizens, victims or relatives of the victims in militant attacks by Hamas in Israel and the Palestinian territories for the period of 2001 to 2004.
The relevant accusations concern violation of the U.S. Anti-Terrorism Act, which give the right to the victims of U.S.-designated foreign terrorist organizations to seek compensation.
Arab Bank denied of causing or providing material support for the attacks.
According to the U.S. Judge Brian Cogan, who is presiding over the case in Brooklyn federal court, the trial could go as much as 60 days.
Evidence for the trial will include bank records and newspaper advertisements illustrating that Arab Bank maintained accounts for Hamas operatives and executed payments for the families of suicide bombers.
In a statement issued on Tuesday, the bank said it “provided routine banking services in compliance with applicable counter terrorism laws and regulations, and had no intention of providing support to Hamas or any other known terrorist organization.”
The case is Linde et al. v. Arab Bank, U.S. District Court for the Eastern District of New York, No. 04-2799.
Source: Reuters
