Good. It’s time the West opens their eyes.
British bank HSBC has ended its relationship with the Islamic Relief Worldwide (IRW), the largest international Islamic charity in the world. In other words, HSBC has closed IRW’s account with the bank and has given them their money back. The bank’s decision was a risk-based determination probably based—not just on the locations of the world where IRW operates—on a review of IRW partners and what internal controls IRW has in place to ensure that its partner organizations and field staff have been adequately screened.
IRW has a pattern of working with Hamas-affiliated entities and then claiming afterward that it didn’t know. It is either purposeful or negligent. Either way HSBC is not obliged to serve as their bank. After being excoriated for its slipshod compliance program a couple years ago, HSBC should now be applauded for applying solid standards.
From International Business Times last month:
HSBC snaps ties with Islamic…
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