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Arab Bank lawsuit

Last updated: 2004-07-08

Arab Bank

Arab Bank

A number of American families have filed a lawsuit against the Arab Bank on the grounds that it sponsors Palestinian terrorism.

Five families who had loved ones killed or severely injured in Israel or the Palestinian territories are seeking $875 million from the Jordan-based bank.

The lawsuit, filed Friday in a U.S. federal court, accuses the bank's New York branch of laundering Saudi aid to terrorists.

Plaintiffs say the bank has been sending money to branches in the West Bank and Gaza Strip. There, the suit alleges, the money is paid out to terrorists and their families, as well as terrorist groups.

The suit also accuses the Arab Bank of working with Hamas to distribute money to the families of suicide bombers.

Arab Bank officials had no immediate comment.

Story supplied by: VOAnews