Financing of Terrorism in BiH: Financial Center of Terrorism Is in Sarajevo
Patriot - September 20, 2004

by: Patriot’s Team

Regardless of irrefutable evidence for it, this bank keeps functioning undisturbed and does suspicious financial transactions. The fact that the “Vakufska Bank” leaders do not even hide its connections with the world financial centers of terrorism speaks about how much freedom in BiH was given to the terrorist circles, which pose a threat to entire civilized world. Moreover, they talk about it in the media publicly even claiming “everything is legal.”

This Bank’s website contains the name of a Turkish Al Barak Bank, commonly known by its connections with Al Qaeda, among the names of its correspondents. However, the BiH authorities do nothing to cut off the channels of financing the terrorism, which go through this country even after numerous warnings constantly coming from the world antiterrorist circles.

Not even powerful international organizations, led by the OHR, ask this from these authorities even though they know that a portion of evidence was collected in BiH two years ago under the U.S. pressure testifying about the presence of dangerous groups in this country.

It can be seen from the report, sent to the BiH authorities by the lawyer’s office in New York representing the families of the September 11 victims, what kind of connections of “Vakufska Bank” and dangerous radical groups it is about.

Speaking about the role of “Vakufska Bank” in financing Islamic terrorism the New York lawyers referred to an investigation, conducted by the Federal Financial Police, checking up on financial dealings of Zenica’s firm of “Engra d.o.o.” This investigation established that the owner of the aforementioned firm, Edin Balta, did not register funds he had received from the humanitarian (!?) organization of the Saudi High Commission for Relief.

The money laundering in this case was also done through “Vakufska Bank.” The Saudi High Commission for Relief Organization is marked by the international intelligence agencies as the financier of Al Qaeda’s operatives in BiH. “Engra d.o.o.” conducted financial transactions within the period from 1998 to 2000 on behalf of an organization, affiliated with Bin Laden through bank accounts opened at the “Vakufska Bank Sarajevo,” Zenica Branch Office, and accounts of the former “Depozitna Bank Sarajevo.”

“Depozitna Bank” or “Vakufska Bank” has been connected with financing Islamic projects in BiH for years. During “antiterrorist activities” in BiH in 2002 two bank accounts were frozen at “Vakufska Bank.” One bank account belongs to Yassin Al Khaddi and the other one belongs to Saudi Mahmal Investment Company.

It is interesting that the funds on both accounts amounted in 3.5 million KM each. In 2002 the U.N. Security Council was even informed about this by the former BiH Ambassador to the UN, Mirza Kusljugic.

This was the time when the FBiH authorities were in a very unenviable situation due to the U.S. pressures to conduct a wider fight against terrorism. Freezing of these two bank accounts Kusljugic of course tried to present as a great success in that fight. The thing that Al Qaeda is still a co-owner of “Vakufska Bank” speaks about how sincere engagement of Bosniak political representatives in the operation of disclosing and crushing of radical Islamic elements it was.

“Vakufska Bank” is one of the main correspondents to Al Barak Turkish Bank, known to the world antiterrorist circles. The reports of the world’s intelligence agencies, which quote this bank as the financier of Al Qaeda’s cells in Spain, are not the sufficient indicators to the BiH authorities to conduct the operation on uncovering this terrorist financial network.

The report, delivered by New York’s lawyers to the jurisdictional people in BiH, reads that the Al Qaeda’s financial leader in Spain, Mohamed Zouyadi, transferred $97,000 to Bin Laden’s courier for Europe, Mohamed Baiakhakh, through the Al Barak Bank in July 2000.

According to the Spanish Police’s documentation, Mohamed Zouyadi has used this bank several times for transferring money to Al Qaeda’s operatives. Besides this, the jurisdictional agencies in the FBiH also discovered in 2002 that the Al Barak Bank provided support to Al Haramain’s operations and helped transferring money for Bin Laden’s operations.

The Investigation and Documentation Agency (AID) even presented that the “material, available for 1998, shows the money flow onto so called ‘operative’ account of humanitarian organizations in ‘Depozitna Bank Sarajevo’ from the ‘main’ bank accounts, sent from Saudi Arabia through Deutsche Bank and Al Barak Bank in Turkey. The amount was 1,059,687 DM ($2.13 million).”

The NGO “Young Muslims,” which was under investigation along with the “Active Islamic Youth” in 2001, due to suspicions of having been affiliated with radical Islamic movements, published an appeal for financial aid on its website. As its website states, the aid to this organization can be paid in through “Vakufska Bank” or Turkish Al Barak Bank.

On this website, the “Young Muslims” organization openly calls on creating Islamic state of BiH, which is not strange since one of the leaders of this organization was also Alija Izetbegovic. He created the famous “Islamic Declaration” at that time. This is a document, which calls on creating Islamic state with the explanation that it is impossible to create it as long as non-Muslim nations live in it.
 

Source: Patriot (Serbian national bi-monthly from Banja Luka), September 20, 2004 ; pg 30 & 31 of 52
Translated by: U.S. Army Open Source Intelligence (OSINT) Cell, ACofS G2 MNB(N)

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