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Friday, 23 August, 2002, 16:07 GMT 17:07 UK
Islamic bank defends terror funding claims
Ground Zero, November 2001
The bank denies any responsibility for the destruction
Saudi finance and media group Dallah Al Baraka has vowed to defend itself in a US court against accusations of funding terrorism.


We have cooperated with international legal sides and refuted unfounded accusations since 11 September

Sheik Saleh Kamel, chairman, Al Baraka Investment and Development
The group's banking subsidiary, Al Baraka Investment and Development (ABID), has been named in a $1,000bn lawsuit filed by relatives of victims of last year's 11 September attacks on the US.

"We have co-operated with international legal sides and refuted unfounded accusations since 11 September which confirms the soundness of our position," said ABID chairman Sheik Saleh Kamel.

The suit is believed to have been filed in an attempt to seek vengeance for the attacks, and cripple entities accused of funding terror.

Not notified

The group said it was responding to the accusations even though it had not yet been formally notified of the lawsuit.

"As a group of international repute, and although we have received no official complaint, we are monitoring the developments," the ABID chairman said.

With investments totalling $9bn in 300 companies in 43 countries, Dallah Al Baraka is one of the Middle East's leading companies.

ABID, founded in 1982, is one of the world's largest Islamic financial institutions, with operations in 29 countries.

The federal suit has also named the Sudanese government, some members of Saudi Arabia's royal family, and Islamic charities and banks as defendants, claiming that they have helped finance terrorists.


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See also:

22 Aug 02 | Business
21 Aug 02 | Business
17 Aug 02 | Americas
16 Aug 02 | Middle East
16 Aug 02 | Americas
12 Mar 02 | Americas
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