Committee on International Relations
U.S. House of Representatives
Henry J. Hyde, Chairman

CONTACT: Sam Stratman, (202) 226-7875, March 16, 2005

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Starving Terrorists of Money:
Role of Middle Eastern Financial Institutions

Royce, Kelly Schedule Wednesday Joint Oversight Hearing 

BACKGROUND:  Efforts to combat terrorist financing are seen as pivotal in the fight against terrorism.  The 9/11 Commission recommended that tracking terrorist financing "must remain front and center in U.S. counter-terrorism efforts."  Terrorist organizations such as al-Qaeda allegedly use a variety of methods to finance operations that stretch across the globe, including: Islamic charities, wealthy donors, hawalas, financial institutions, drug trafficking, conflict diamonds and other commodities. Tracking terrorist financing has proven an effective way not only to disrupt terrorist plots and organizations, but also to glean intelligence on terrorist operatives.  However, because of its complexity and variety of methods, terrorist finance is a "hard target" for the United States government.  This joint hearing of the Subcommittee on International Terrorism and Nonproliferation and the Financial Services Subcommittee on Oversight and Investigations will examine progress made and challenges ahead in understanding the role of Middle Eastern financial institutions in tracking terrorist assets. 

WHAT:                             Joint Subcommittee Oversight Hearing: 
                  Starving Terrorists of Money: The Role of Middle Eastern Financial Institutions

                  International Relations Subcommittee on International Terrorism and Nonproliferation,

                  U.S. Rep. Edward Royce (R-CA), Chairman

                  Financial Services Subcommittee on Oversight and Investigations

                  U.S. Rep. Sue Kelly, (R-NY), Chairwoman

WHEN:                             2:00 p.m., Wednesday, May 4, 2005

WHERE:                           Room 2128 Rayburn House Office Building

WITNESSES:                   Stuart Levey, Under Secretary, Office of Terrorism and Financial Intelligence, Department of the Treasury;
                                           Paul Simons
, Deputy Assistant Secretary for Energy, Sanctions and Commodities, Bureau of Economic and
                                           Business Affairs, Department of State;
                                           John Byrne
, Director, Department of Compliance, American Banking Association, and
                                           Zahid H. Bukhari
, Director, American Muslim Studies Program and Fellow, Center for Muslim-Christian Understanding,
                                           School of Foreign Service, Georgetown University.

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