Saudi Arabia Accedes to U.S. Request to Monitor Suspect Bank Accounts

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Monday, April 1, 2002
Bruce Zagaris
On February 6, 2002, the media reported that U.S. and Saudi officials knowledgeable about the issues have said the Saudi Arabian Monetary Authority (SAMA), which is the central bank, is monitoring at the request of U.S. law enforcement agents bank accounts of some of item most prominent businessmen in a bid to prevent their use wittingly or unwittingly for the transmission of funds to organizations. In the aftermath of the September 11 terrorist incidents in the U.S., officials have asked the SAMA to monitor these accounts, as well as four Saudi charities and eight businesses were also among 141 world-wide names given to Saudi Arabia. While Saudi Arabia has frozen the accounts of several businessmen suspected by the U.S. of having funded terrorism, such as those of Jidda-based Yassin al Wadi, the agreement to monitor the accounts means that these accounts will at present escape freezing. Mr.Qadi who the U.S. accuses of being associated with terrorism, has challenged the freezing of assets in a British court as well as at the European Court of Justice.