Compensation claims against Arab Bank thrown out by US court

Published December 10th, 2015 - 09:00 GMT

The second US Circuit Court of Appeals in New York rejected claims filed by foreign (non-American) plaintiffs against the Arab Bank.

About 6,000 plaintiffs had filed lawsuits against the Arab Bank, calling for compensation for damages under the Alien Tort Statute, in which a New York District Court rendered a first-degree ruling on 23 August 2013 rejecting these claims, which was recently supported by the Court of Appeal.

In another similar lawsuit filed by US plaintiffs, known as the Linde case, the Arab Bank reached a settlement on 14 August 2015 with the parties in the case, and thus the case came to an end.

All the lawsuits pertain to accusations against the Arab Bank, which is Jordanian bank, of passing on finances to Palestinian movement Hamas, which is internationally accused of committing acts of terrorism.

According to a statement by the Arab Bank, the bank has been and remains committed to applying the highest standards of compliance in banking operations, where the bank employs its systems effectively, consistent with all legislation, laws and regulatory requirements in the exercise of its work.

The bank added that the US government described it as an active partner in efforts to prevent the financing of terrorism, in addition to continuing the vital role of Arab Bank in the Middle East, in terms of advancing economic development, and the development of financial and banking industry in the region.


© 2019 Daily News Egypt.

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