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Bush Announces Closure of Two "Terrorist-Financing" Networks
Wednesday, November 7, 2001

"The authorities in [Emirates and the United States] seized the accounts and assets of these institutions to ensure that their activities would no longer present a danger to world security and legal business activities,"

WASHINGTON -- News Agencies
U.S. President George W. Bush announced on Wednesday that authorities shut down the U.S. offices of two financial networks accused of financing terrorists blamed for the September 11 attacks on the U.S.

He said assets of people and groups linked to the networks were frozen.

"Today, we are taking another step in our fight against evil. We are shutting down two major elements of the terrorists' international financial network, both at home and abroad," Bush said in a speech at a U.S. Treasury office.

"Acting on credible and solid evidence, the Treasury of the United States today blocked the U.S. assets of 62 individuals and organizations connected with two terrorist-supporting financial networks, the al-Taqwa and the al-Barakaat," he said.

The organizations are money exchange networks, known in Arabic as hawalas, which have offices in the United States. They essentially operate as unlicensed banks.
(More: Islam-Online.com News Source)
2001 © Newswire.

Dan