U.S. law firms sue Turkish bank for terrorist support

Three U.S. law firms have sued a leading Turkish Islamic bank on behalf of an American family for aiding and abetting terrorist activity, Washington based law firm Stein Mitchell Beato & Missner said in a press release on Monday.

Stein Mitchell and two other firms say the government of Turkey, which is one of the bank’s largest shareholders, has permitted Palestinian militant organisation Hamas to operate within its borders. Hamas is considered a terrorist organisation by Israel, the United States and the European Union, but not by Turkey.

The case against Kuveyt Türk Katılım Bankası A.Ş. is one of many seeking to “bring justice against international banks that have provided material support to or aided and abetted terrorist organizations,” the press release said.

Founded in 1989, Küveyt Türk is the largest of five participation banks in Turkey providing interest free banking.

As of 2017, the bank had 392 branch offices employing 5,600 staff. It’s shareholders include Kuwait Finance House holding at 62,24 percent, Turkish General Directorate of Foundations holding at 18 percent, Kuwaiti Public Institution for Social Security holding at 9 percent, and Islamic Development Bank holding 9 percent.

Source: Ahval News