An online portal covering counter-terrorism issues has reported that self-described Muslim Brotherhood “Foreign MInister” Youssef Nada lost his appeal to a Swiss court asking to be removed from the Swiss list of terrorist entities implementing U.N. sanctions. According to the report, Nada based his claim on the May 2005 decision of the Swiss Federal Prosecutor to drop the charges against him and Al Taqwa Bank, following a criminal investigation opened in October 2001. According to the portal, the Swiss court ruled that U.N. decisions prevailed over decisions of member states and that procedures were in place for being removed from the list. As a previous post reported, Italian terrorism charges were also dropped in July against Nada and Ahmed Nasreddin, another figure involved in the Al Taqwa Bank. Numerous Muslim Brotherhood luminaries held shares in the offshore bank, including the bank’s Sharia supervisor Sheikh Youssef Qaradawi and his family, which was supposed to conduct business in accord with Islamic principles. The bank was closed in 2000 after what Nada said were unforeseen developments related to the Asian financial crisis and a run on the bank caused by unfavorable publicity generated by accusations that the bank was funding Hamas. No documentation of the bank’s activities has ever been produced and Nada has refused to hand over the bank records which he said were moved to Saudi Arabia. The U.S. has accused Al Taqwa of helping to finance the activities of Osama Bin Laden. Last month, Ahmed Nasreddin was removed from the U.N. list.