UN and US Delist Nasreddin and His Companies from Sanctions, due to connection to the Muslim Brotherhood
In Stunning Move, UN and US Delist Nasreddin and His Companies from Sanctions
By Jonathan Winer
In a move subject to no publicity whatsoever, and so far not reported by the press, the UN Security Council today without explanation removed Ahmed Idris Nasreddin and 12 of his companies from the terrorist sanctions list, freeing them from sanctions on a global basis. The UN action followed a similar action by the United States dated yesterday.
The move reflects a 180 degree change from previous assessments of Nasreddin, as articulated by the U.S. Treasury when he and his companies were designated as terrorist financiers by the G-7 on April 19, 2002 and by the UN a week later.
At that time, Treasury stated that Nasreddin operated an extensive financial network providing support for terrorist related activities through commercial holdings which included “an extensive conglomeration of businesses” from which he derived income and conducted transactions. Back then, Treasury stated without qualifiication that “Nasreddin’s corporate holdings and financial network provide direct support for Nada and Bank Al Taqwa,” themselves designated as terrorist financiers by the U.S. on November 7, 2001, and the UN on November 9, 2001.
Five years ago, the U.S. Treasury stated that Nasreddin held a controlling interest in Akida Bank, also on the terrorist finance sanctions list, which it described as not being a functional banking institution but a shell company lacking a physical presence, and which had its license revoked by the Bahamian government.
Treasury further stated that Bank Al Taqwa, for which Nasreddin was a director, was established in 1988 with significant backing from the Muslim Brotherhood, which had 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.
Previously, President George W. Bush personally announced the freezing the assets of Nasreddin’s bank, Al Taqwa after the Sept. 11 terrorist attacks on New York and Washington D.C.
Was it all some kind of mistake, and Nasreddin and his bank and companies were all on the list by error, having never helped finance any terrorist group? Or was the U.S. right the first time when it stated:
An official explanation is definitely needed to begin to make sense of this one.
November 16, 2007 04:32 PM Print
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