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U.S. Tracks Saudi Bank Favored by Extremists

[Wall Street Journal] Glenn R. Simpson - U.S. intelligence reports, heretofore secret, describe how Al Rajhi Bank has maintained accounts and accepted donations for Saudi charities that the U.S. and other nations have formally designated as fronts for al-Qaeda or other terrorist groups. The wealthy Al Rajhis are a clan long at odds with the ruling Saud family. The Al Rajhi name appeared on a list of regular financial contributors to al-Qaeda that was discovered in Sarajevo, Bosnia, in 2002. A 2003 German police report said Sulaiman Al Rajhi and other family members had contributed more than $200,000 in 1993 to a charity that financed weapons for Islamic militants in Bosnia. Al Rajhi Bank maintained at least 24 accounts for Al-Haramain foundation - a charity that Treasury officials say has acted as a front for al-Qaeda in 13 countries - until the Saudi government ordered the charity shut down in 2004. A November 2002 CIA report said the Saudi government "has made little independent effort to uncover terrorist financiers, investigate individual donors, and tighten the regulation of Islamic charities," largely because of "domestic political considerations."
2007-07-30 01:00:00
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