Saudi Investment Company
Encyclopedia
The Saudi Investment Company (SICO), headquartered Geneva
, Switzerland
and founded on May 19, 1980, represents the worldwide interests of the Saudi Binladin Group.
and Curaçao
. The Curaçao branch, established in 1984, manages the bin Laden group's partnership with the American Daniels Realty Corporation (Duspic), part of the Fluor Corporation conglomerate. It is partly through the bin Ladens' influence that the Fluor group was one of the major recipients of reconstruction contracts in Kuwait.
. Board members include Beatrice Dufour (a sister-in-law of Yeslam), noted Swiss lawyer Baudoin Dunant, Charles Rochat, and Tilouine el Hanafi.
Included among SICO's more notable business partners is the Pakistani businessman Akberali Moawalla
, who, on December 5, 2001, would come under the scrutiny of French investigative authorities for his role in a €241 million transfer made to Pakistan in 2000 from an account belonging to a company called Cambridge, an SBG subsidiary, that was opened at Deutsche Bank
in Geneva, according to the Le Monde
. U.S. authorities were aware of the existence of those funds, which they believe were transferred into an account belonging jointly to Osama bin Laden and someone of Pakistani nationality, according to the French paper.
Geneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
and founded on May 19, 1980, represents the worldwide interests of the Saudi Binladin Group.
Overview
The Geneva-based SICO is the parent house for the Group's international financial activities and investments, with branches in LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and Curaçao
Curaçao
Curaçao is an island in the southern Caribbean Sea, off the Venezuelan coast. The Country of Curaçao , which includes the main island plus the small, uninhabited island of Klein Curaçao , is a constituent country of the Kingdom of the Netherlands...
. The Curaçao branch, established in 1984, manages the bin Laden group's partnership with the American Daniels Realty Corporation (Duspic), part of the Fluor Corporation conglomerate. It is partly through the bin Ladens' influence that the Fluor group was one of the major recipients of reconstruction contracts in Kuwait.
Personnel
The company is chaired by Yeslam bin Laden, a half-brother of the more infamous Osama bin LadenOsama 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...
. Board members include Beatrice Dufour (a sister-in-law of Yeslam), noted Swiss lawyer Baudoin Dunant, Charles Rochat, and Tilouine el Hanafi.
Included among SICO's more notable business partners is the Pakistani businessman Akberali Moawalla
Akberali Moawalla
Akberali Moawalla is a prominent Pakistani businessman, notable for his business connections to the Bin Laden family of Saudi Arabia. He is a former business partner of Yeslam bin Ladin, half-brother of the more famous Osama bin Ladin, and of the Geneva-based Saudi Investment Company , which...
, who, on December 5, 2001, would come under the scrutiny of French investigative authorities for his role in a €241 million transfer made to Pakistan in 2000 from an account belonging to a company called Cambridge, an SBG subsidiary, that was opened at Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
in Geneva, according to the Le Monde
Le Monde
Le Monde is a French daily evening newspaper owned by La Vie-Le Monde Group and edited in Paris. It is one of two French newspapers of record, and has generally been well respected since its first edition under founder Hubert Beuve-Méry on 19 December 1944...
. U.S. authorities were aware of the existence of those funds, which they believe were transferred into an account belonging jointly to Osama bin Laden and someone of Pakistani nationality, according to the French paper.