Jordan's Arab Bank starts appeal against Hamas finance ruling

By REUTERS
October 25, 2014 16:10
1 minute read.

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Jordanian lender Arab Bank Group said it had begun legal steps to appeal a US jury ruling which found it liable for financing Islamic militant group Hamas.

The US civil lawsuit brought against the Jordan-based bank has been described by lawyers as the first of its kind to reach trial. Jurors last month found it was liable for giving material support to Hamas and said it must compensate victims of two dozen attacks attributed to the group in Israel and the Palestinian territories.

Chairman Sabih Masrii said the bank was preparing an appeal against the verdict that it described as unjust and exposed not just the bank but others to "enormous liability" for providing routine services.

"We have started the preliminary actions for the submission of the appeal which is expected to take over a year. The bank has taken the appropriate measures to deal with the situation," Masri said in a statement announcing the bank's nine month results.

Similar lawsuits are pending in New York against Bank of China Ltd, which is accused of providing services to Palestine Islamic Jihad, and Credit Lyonnais SA, which is accused of aiding Hamas. Those banks have denied the allegations.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
September 22, 2018
White House optimistic on China trade; no date for more talks

By REUTERS