Al Taqwa Bank Founder Receives Token Award in Civil Lawsuit


A Swiss court has awarded Youssef Nada 5,950 Swiss francs ($4,845) in connection with a criminal investigation into Al Taqwa Management, founded by Nada in 1988 and accused by the U.S government of financial support of Al Qaida. The 76-year-old Nada, a longtime leader in the Muslim Brotherhood living in Switzerland for many years, had sued for over 27 million francs (US$22 million) in financial damages related to the investigation which was dropped by the Swiss government in 2005 for lack of evidence. Nada and others connected with Al Taqwa were designated Specially Designated Global Terrorists by the U.S. government in November 2001.

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