Youssef Nada

Youssef Nada has claimed to be the acting “foreign minister” for the Muslim Brotherhood and was one of the founders and majority shareholders of the notorious Al-Taqwa Bank, formerly  located “offshore” in the Bahamas. Numerous Muslim Brotherhood luminaries held shares in the bank, including the bank’s Sharia supervisor Global Muslim Brotherhood leader 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. In 2010, the UN dropped anti-terrorist sanctions against Mr. Nada and other sanctions and restrictions on Mr. Nada by Switzerland were also removed. He remains designated as a terrorist by the US government.