September 23, 2014 | Quote

Jordan Unlikely to Retaliate Against US Over Arab Bank Case

Jonathan Schanzer, vice president for research at the Foundation for Defense of Democracies and a former terrorism finance analyst at the US Department of the Treasury, told The Jerusalem Post on Monday that there will be concern among the banking community about the practices of Arab Bank, which is essentially the state bank of Jordan.

“The US will undoubtedly go to great lengths to reassure the international community that Jordan’s financial sector is trustworthy and strong,” asserted Schanzer, noting that “Jordan remains a pivotal player in the Middle East, and is shouldering a mighty load with the influx of Syrian refugees.”

Schanzer predicts that “America will have Jordan’s back” regarding this case.

Further, it should be mentioned that the crime transpired a decade ago, he said, adding that “the bank has had plenty of time to clean up its act.”

“One concern moving forward will be the role of the bank in the provision of financial assistance to Gaza for reconstruction as the Arab Bank remains the primary conduit for Gaza,” said Schanzer. 

“I suspect that the funds will not flow as freely as they did in the past, as Arab Bank seeks to identify vetted parties to accept transactions.”

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