After London and Geneva, recent revelations have brought to light that a new financial nerve centre is being coveted by the nebulous financier linked to the Muslim Brotherhood. It concerns Luxembourg, another European country which subscribes to banking secrecy.By Atmane Tazaghart
It has been known for a long time that the Grand-Duchy of Luxembourg is a financial centre open to ‘Islamic finance’. It welcomes openly ‘Islamic’ financial groups, such as the ‘Faisal Finance Luxembourg’ and the ‘Dar Al Mal Al Islami Trust’ (DMI Trust). These groups are well established and work in complete legality. Yet, this is not the case for other entities linked to the nebulous financier of the Muslim Brotherhood, which cultivates circumvention and secrecy.
The financial backers who act as figureheads for Tanzim al-Dawli, the international branch of the Muslim Brotherhood, now avoid establishing openly Islamic financial institutions, for fear of attracting suspicion. This was the case, in the aftermath of September 11, 2001, for the Al Taqwa bank, founded and managed by the mystery treasurer of the Muslim Brotherhood, Youssef Nada.
To guard against such risks, the financial backers of the Muslim Brotherhood currently operate a kind of financial taqiyya (deception), in the form of an entryism which enables them to discretely infiltrate financial groups to all appearances ‘smooth’, whose respectability is undoubted and who have no apparent links to ‘Islamic finance.’
The most recent revelations on this subject concern the investment fund ‘Eurozone Equity Company SA’, one of the most flourishing financial actors in the Luxembourgian financial centre, which holds assets in the most prestigious investments in the Euro zone. A recent investigation has established that several investors , who have long been known as being clandestine financiers of the Muslim Brotherhood, are members of ‘Eurozone Equity Company SA’ Board of directors.
The main one amongst them is the Egyptian Gamal Attia. A major figure in Tanzim al-Dawli, close to Youssef Nada, he was the founder of the ‘International Islamic Bank of Luxembourg’, connected to the Muslim Brotherhood (dissolved in 1994). Alongside him we find another Egyptian, no less well-known, Abdelatif Sayed, former Director of ‘Solidarity Takafol SA’, a Luxembourg insurance company, also criticised for its connections with the Muslim Brotherhood.
According to our sources, the Eurozone Equity Company’s Board of Directors includes also two investors from Bahrain, equally known for their links with the Muslim Brotherhood: Ahmed Abdulla Bucherry and Ziad Hassan Rawashdeh.