The Arab Bank in Beirut. (The Daily Star/Mahmoud Kheir)
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Arab bank, on trial in New York for allegedly supporting terrorism, is one of the biggest and most prestigious Arab banking giants in the world.In 1948, when the state of Israel was established, the bank relocated to Amman.The lawsuit was filed by the families of Americans killed in Hamas attacks, who claim that in transferring such monies, the bank was in violation of the 2001 Anti-Terrorism Act.Experts and economists believe the bank will emerge unscathed with flying colors, dismissing the case as a political attempt by American Zionist organizations looking to discredit the Palestinian cause.What is without doubt is that the bank has impeccable credentials.Today the Shoman family is no longer directly involved in managing the bank and owns less than two percent of the business.Experts say that the bank has been through worse and will thrive.
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