US Treasury Department lifts assets freeze on MB leader Youssef Nada

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The US Treasury Department has lifted a freeze of assets imposed on Youssef Nada, a prominent leader of the Muslim Brotherhood, a few months after he was taken off the terrorist list which was compiled by the US administration in 2001, Al-Jazeera news network has reported.

The decision will include Al-Taqwa, a Bahamas-based bank and a financial network that was among the earliest post 9/11 targets of the US Treasury Department that ordered freezing of the assets and bank accounts because of possible connections to terrorism.

Nada, 77, an Egyptian who carries Italian citizenship, is considered one of the most prominent leaders and financiers of the international Muslim Brotherhood organisation.

Residing in Switzerland, he is the Brotherhood’s so-called diplomatic representative.

A lack of evidence of wrongdoing prompted the US treasury to lift the freeze which had been in place since 2001 in an attempt to choke off the MB leader and his assets, according to Al-Jazeera.

In 2010, the UN Security Council quietly dropped Nada from an international sanctions list directed at curbing the activities of alleged terrorist financiers.

The Muslim Brotherhood reportedly operates in nearly 80 countries across the world but the group is currently listed among terrorist organisations in Egypt, Saudi Arabia, the UAE and Russia.

In December 2013, the Egyptian government declared the Muslim Brotherhood a terrorist group after a spate of deadly attacks on security personnel in which the Brotherhood has repeatedly denied any involvement.