An increasing number of Muslim NGOs are likely to suffer the same fate as three groups that were told their bank accounts are to close because they are too risky, a finance and security expert has warned.
Because rampant Islamophobia, right..?
“The result of these decisions [by HSBC] might look like Islamophobia but I am certain no UK bank is actively going to close out Islamic charities. They made decisions that predominately affects Muslim charities given the regions they operate in.”
The Financial Action Task Force (FATF), an international body dedicated to combatting terrorist financing and money laundering among other things, says that non-profit organisations are “vulnerable for abuse by terrorists or terrorist networks”, and rates governments’ compliance with its recommendations. “Why would I provide services to NGOs when I am told by the global standard setter that they are particularly vulnerable to abuse by terrorist organisations,” said Keatinge, who worked in banking for 20 years.
Why indeed? But what does he know, anyway? He’s just a banking expert, not an expert in identity politics or political pandering….