LONDON (Reuters) - U.S. authorities expressed concerns that Britain’s growing sharia banking sector may be exploited to channel funds to terrorists, the Daily Telegraph reported, citing diplomatic cables released by WikiLeaks.
According to WikiLeaks, the U.S. State Department’s concerns were such that it ordered diplomats in London to compile a report on the activities of sharia banks in Britain.
The report cited a cable sent from the office of Condoleezza Rice, former President George Bush’s then Secretary of State, in June 2006.
This cable requested information on “Islamic financial institutions’ vulnerability to exploitation for illicit or terrorist purposes, such as structuring accounts to mask illicit activity or money laundering,” the report said.
Reporting by Sudip Kar-Gupta; Editing by Dan Lalor