Elsayed Abdurrahman Street
P.O Box: 10036
Postal Code: 11111
Founded in 1983, the Khartoum, Sudan-based Al Shamal Islamic Bank (ASIB) is suspected by the U.S. State Department of being a financier of the terrorist group al Qaeda. The evidence upon which this suspicion rests is rooted in a Switzerland-based bank named Dar al-Maal al-Islami (DMI). On August 15, 2002, DMI was named in a $100 trillion lawsuit filed in a Washington, DC United States District Court by the families of the 9/11 victims, alleging that the named defendants had given contributions to charities directly linked to al Qaeda. According to the brief filed by these families and State Department records, DMI was involved in "al Qaeda financing through several of its subsidiaries, including […] Faisal Islamic Bank and Al Shamal Islamic Bank."
At a post-9/11 hearing, the Chairman of the Senate Armed Services Committee testified that "Al Shamal Islamic Bank operations continue to finance and materially support international terrorism, and that there are indications that Osama bin Laden remains the leading shareholder of that bank." A 1996 State Department Fact Sheet asserts that Osama bin Laden invested $50 million in the Al Shamal bank.
During the 2001 trials of those suspected in al Qaeda’s 1998 U.S. embassy bombings in East Africa, Ahmed al-Fadl, a finance manager for al Qaeda, testified that bin Laden kept funds at Al Shamal Islamic Bank, and that the al Qaeda leader paid all members of his terrorist network through that account. Another al Qaeda collaborator, Essam al-Ridi, testified that on one occasion bin Laden had transferred $230,000 from Al Shamal to a bank in Arizona to finance the purchase of a plane that would transport Stinger missiles from Pakistan to al Qaeda’s base of operations in Sudan.