Wall Street Journal: Arab Bank funneled money into terrorist groups

The Jordan-based Arab Bank has worked as a front for Al-Qaeda, Hamas and other terrorist groups, according to the American daily "Wall Street Journal". The bank’s New York branch was involved in the transfer of more than US$ 20 million to and from terrorists, or terrorist groups, including Al-Qaeda, Hamas and the Islamic Jihad, the paper reported. The bank recently agreed to suspend its American operations under pressure from American regulatory officials. Several American and Israeli victims of terrorist attacks have filed lawsuits against the Arab Bank, accusing it of transferring funds to its branches in Palestinian areas for payouts to suicide bombers’ families. But with the approval of both American and Israeli authorities, the bank has the widest commercial network in the West Bank and Gaza Strip.