IslamicFinance.de

The banking facilities of the Al Aqsa Foundation with two banks in South Africa have been recently suspended. Even though the foundation is registered with the South African government as a bona fide charity, it is suspected by the US government to be covertly funnelling funds to Hamas. First National Bank (FNB) gave a notice to the foundation three months in advance before completely shutting its account. The move encountered rather negative reception from the South African Muslim community. It was even called for a boycott of FNB. There have been further discussions on the reasons to close the account and the relations between the bank and the US government.