News
No action taken for several years against Lankan businessman accused of al-Qaeda financing
View(s):By Duruthu Edirimuni Chandrasekera and Bandula Sirimanne
A Sri Lankan businessman, accused of financing al-Qaeda terrorism by the US authorities, came under the radar of local intelligence agencies some years ago, and his movements have been tracked since then, though no action was taken.
Businessman Mohamad Irshad Mohamad Haris Nizar, a resident of China Fort in Beruwela was designated by the US Treasury’s Office of Foreign Assets Control (OFAC) on Wednesday for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, business partner and a relative, Ahmed Luqman Talib (Talib), previously designated by the agency for facilitating the international movement of individuals and finances in furtherance of al-Qaeda’s objectives.
Sri Lanka’s intelligence services carried out their screening of this businessman and submitted their findings to the police some time ago. They are continuing investigations into his local business network and business partners who are linked to his operations in Sri Lanka.
Mr. Nizar is said to be running a foreign employment agency and allegedly engaged in human smuggling and Hawala transactions, as a foreign money changer with links to the Hawala operators. Informed official sources revealed that he is also engaged in road building and construction activities in the Northern and Eastern Provinces and in the building-material business.
Intelligence reports show Mr Nizar is also a gem merchant with businesses in Madagascar off the East Coast of Africa
It is learnt that he does not live in Sri Lanka and is possibly living in Dubai.
Meanwhile, Sri Lankan banks are running the risk of losing their correspondent banking licences after Mr Nizar was flagged by the US authorities for doing business with al Qaeda, presumably using local banking channels.
Banking sources told the Sunday Times that banks and designated non-finance businesses and professions are looking to implement financial restrictions or sanctions such as freezing accounts owned by Mr Nizar.
For the past four years, Sri Lanka’s defence and military intelligence agencies have been on his tail, the Sunday Times learns. They have been working with the US authorities to bring him to books.
Sri Lanka as a country also runs the risk of being slapped with US sanctions if the businessman is not duly dealt with, a senior banker said.
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