The US Treasury is running a new campaign against Al-Qaeda in Turkey
September 19, 2021, 9:56 am

The US Treasury is running a new campaign against Al-Qaeda in Turkey

The United States

The United States imposed sanctions on 16^th_Sept 2021on five al Qaeda supporters working out of Turkey to provide financial services and travel help to the militant group, The US Treasury Department confirmed.

The five are a mix of Turkish and Egyptian nationals who Treasury said provided various forms of support to senior members of the organization that carried out the 9/11 attacks and other plots against the U.S. Treasury’s designation of the men freezes any assets they have under U.S. jurisdiction and shuts them out of much of the global financial system. It is part of a long-running campaign against the support network for al-Qaeda.

Three Turkish nationals, Cebrail Guzel, Soner Gurleyen, and Nurettin Muslihan, were accused of having helped facilitate Al-Qaeda's network across Turkey and into neighbouring Syria. The Erdoğan government stopped the criminal investigation -Turkish al-Qaeda member Musa Abu Jafar who moved to Syria’s Idlib province . Musa Abu Jafar is a Salafist cleric who has worked in various countries from Pakistan to Egypt. He was the target of a Turkish prosecutor in Istanbul who was investigating al-Qaeda networks in Turkey in 2011 as part of case file No. 2011/2221. He was in Pakistan and embedded with al-Qaeda cells there,

Under pressure from 9/11 victims and their families, President Joe Biden on Sept. 3 directed the Justice Department and other federal agencies to declassify some documents from the FBI's investigation into the terrorist attacks. The partially redacted 16-page document released by the FBI on the 20th anniversary of the attacks detailed contacts between the hijackers and several Saudi officials.The US Treasury's decision to impose sanctions on members of Al-Qaeda in Turkey came in the wake of US President Biden's announcement that the September 11 investigations had been revealed after twenty years.

Financing Terror

There is no doubt that terrorists and terrorist organizations rely on money to carry out terrorist acts. Money for terrorists comes from a wide variety of sources. The ability to prevent and detect money-laundering is a highly effective means of identifying criminals and terrorists and the underlying activity from which money is derived. The application of intelligence and investigative techniques can be one way of detecting and disrupting the activities of terrorists and terrorist organizations.

Anti-Money Laundering

The Anti-Money Laundering Global Task Force (GTF-AML) works with anti-money laundering experts, and organizations such as the Financial Action Task Force (FATF), the World Bank, the International Monetary Fund (IMF), the United Nations Office on Drugs and Crime (UNODC), Interpol, the Egmont Group, and Transparency International. The GTF-AML has developed a complementary approach to combating money laundering, in particular the laundering of corrupt money, and promotes the use of practical tools and techniques to limit or arrest such activity.

The UK anti-money laundering legislation is dictated by the Proceeds of Crime Act 2002 (POCA), the Terrorism Act 2000 and the Money Laundering, Terrorist Financing and Transfer of Funds 2017. The UK is a member of FATF and, accordingly, the UK anti-money laundering legislation meets FATF’s global standards. Similarly, while the UK left the EU on January 31, 2020, it is committed to transposing the AML/CFT standards set out in EU’s 5th and 6th anti-money laundering directives (AMLD).

Results

It is likely, that the names on the US Treasury list are related to the events of September 11, i.e. Funding and give logistical support to Al-Qaeda. However, it seems that this decision is useless, because Erdogan's government was known for not supporting the policies of law enforcement, combating terrorist financing or combating terrorism. The Erdogan government had been involved in smuggling some al-Qaeda members after the US Treasury had put pressure on Erdogan's government, i.e. smuggling Musa Abu Jaafar in 2020

This could spoil the value of the US Treasury's decision to combat money laundering and the financing of extremist organizations. More, members of AL-Qaeda and extremist groups are well aware of international laws, and know how to get away.

By: Jassim Mohamad - Bonn

The Suspicious Qatari Role in Post-US Afghanistan Qatar's contradictory relationships

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.