Al Shamal Islamic Bank
Encyclopedia
The Al-Shamal Islamic Bank of Khartoum
, founded in 1983, is one of the major financial institutions of Sudan
, and one of the leading Islamic banks worldwide.
A declassified U.S. Department of State report dated August, 1996 and a French investigation into Al Shamal Islamic Bank separately concur that Osama bin Laden
invested $50m of his inherited fortune in the bank on his arrival in Sudan in 1991, in a joint venture with senior National Islamic Front
members.
The bank itself that among its five "main founders" and principal shareholders is another Khartoum bank, the Faisal Islamic Bank of Sudan. According to public records, 19 percent of the Faisal Islamic Bank is owned by the Dar Al-Maal Al-Islami Trust
, or simply DMI Trust, also headed by Prince Faisal. The $3.5 billion DMI Trust, whose slogan is "Allah is the purveyor of success," was founded in 1981 to foster the spread of Islamic banking across the Muslim world. Its 12-member board of directors includes Haydar Mohamed Bin Laden, a half-brother of Osama bin Laden, according to a DMI spokesman.
Other shareholders include:
Khartoum
Khartoum is the capital and largest city of Sudan and of Khartoum State. It is located at the confluence of the White Nile flowing north from Lake Victoria, and the Blue Nile flowing west from Ethiopia. The location where the two Niles meet is known as "al-Mogran"...
, founded in 1983, is one of the major financial institutions of Sudan
Sudan
Sudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
, and one of the leading Islamic banks worldwide.
A declassified U.S. Department of State report dated August, 1996 and a French investigation into Al Shamal Islamic Bank separately concur that Osama bin Laden
Osama bin Laden
Osama bin Mohammed bin Awad bin Laden was the founder of the militant Islamist organization Al-Qaeda, the jihadist organization responsible for the September 11 attacks on the United States and numerous other mass-casualty attacks against civilian and military targets...
invested $50m of his inherited fortune in the bank on his arrival in Sudan in 1991, in a joint venture with senior National Islamic Front
National Islamic Front
The National Islamic Front is the Islamist political organization founded and led by Dr. Hassan al-Turabi that has influenced the Sudanese government since 1979, and dominated it since 1989...
members.
Shareholders
According to public records, among the investors in the Al Shamal Islamic Bank include a Geneva-based financial services conglomerate headed by Prince Mohammed al-Faisal al-Saud, son of the late King Saud and a cousin of the current Saudi monarch, King Fahd.The bank itself that among its five "main founders" and principal shareholders is another Khartoum bank, the Faisal Islamic Bank of Sudan. According to public records, 19 percent of the Faisal Islamic Bank is owned by the Dar Al-Maal Al-Islami Trust
DMI Trust
Dar al-Maal al-Islami Trust , founded in 1981, is a leading Islamic financial institution with affiliates on four continents and assets under management of over $3.6 billion USD, operating in accordance with Zakat principles of Islamic banking...
, or simply DMI Trust, also headed by Prince Faisal. The $3.5 billion DMI Trust, whose slogan is "Allah is the purveyor of success," was founded in 1981 to foster the spread of Islamic banking across the Muslim world. Its 12-member board of directors includes Haydar Mohamed Bin Laden, a half-brother of Osama bin Laden, according to a DMI spokesman.
Other shareholders include:
- Adel BatterjeeAdel BatterjeeAdel bin Abdul-Jalil Batterjee is a noted Saudi Arabian businessman and philanthropist, most widely known as the incorporator of the U.S., Canadian, and Saudi Arabian branches of the purported terrorist funding conduit Benevolence International Foundation...
, also chairman as recently as 2002. - Al Baraka Investment and Development CorporationDallah Al-BarakaDallah Al-Baraka , is a Saudi Conglomerate founded and owned by Sheikh Saleh Abdullah Kamel. The word Dallah is the diminutive name of Abdullah - it also translates to "coffee pot" in Arabic....